The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
Handout
Resolute Forest Products Inc. chief financial officer Remi Lalonde recalls tense times for the company last spring, when the outlook seemed bleak for lumber demand.
“I think that when you look at 2020 and the pandemic-induced challenges that we had, there were some pretty scary moments, especially in March, April and May,” he said in an interview, days before he becomes Resolute’s new chief executive officer next week.
TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (18,041.97, up 126.06 points.)The Supreme C
Resolute posts fourth-quarter 2020 loss, sales up from year-ago period
February 4, 2021
February 4, 2021
Topics
Resolute Forest Products has reported a net loss for the fourth quarter of 2020 of US$52 million, or $0.63 per share, compared to a net loss of US$71 million, or $0.79 per share, in the same period in 2019.
The Montreal-based company keeps its books in U.S. dollars.
Sales were $769 million in the quarter, an increase of $101 million from the year-ago period. Excluding special items, the company reported net income of $45 million, or $0.55 per diluted share, compared to a net loss of $53 million, or $0.59 per share, in the fourth quarter of 2019.
Resolute Reports Preliminary Fourth Quarter and 2020 Results
News provided by
Share this article
Adjusted EBITDA of $129 million in the quarter / $338 million for the full year
Net debt down by $93 million to $448 million / year-end liquidity at $693 million
Repurchased 2.1 million shares in Q4 / 6.9 million (8%) in 2020
Completed private offering of $300 million 4.875% senior unsecured notes
MONTRÉAL, Feb. 4, 2021 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported a net loss for the quarter ended December 31, 2020, of $52 million, or $0.63 per share, compared to a net loss of $71 million, or $0.79 per share, in the same period in 2019. Sales were $769 million in the quarter, an increase of $101 million from the year-ago period. Excluding special items, the company reported net income of $45 million, or $0.55 per diluted share, compared to a net loss of $53 million, or $0.59 per share, in the fourth quarter of 2019.
Investors will see financial results from some of the big names in the oilpatch this week. Imperial Oil will host a conference call with analysts to discuss its fourth-quarter results on Tuesday and Suncor will release its results after the close of markets on Wednesday followed by a conference call Thursday. Canada s oil and gas producers are expected to maintain spending discipline in 2021 as optimism from stronger oil prices is offset by fears of weak demand due to new strains of the COVID-19 pandemic.
January jobs numbers
Statistics Canada will release its labour force survey results for January on Friday. The agency reported that the economy lost 63,000 jobs in December, the first decline in jobs since April amid tightened public health restrictions, and that economists expect the losses to continue as the number of new COVID-19 cases continued to rise.