“In my first eight weeks at Cascades, I have been inspired by the drive to create value for our customers. We expect stronger third quarter results, driven by improved Containerboard performance and stable Specialty Packaging results,” says President and CEO Hugues Simon.
“However, higher pulp prices and a less favorable sales mix may impact the Tissue Papers segment. Our focus remains on ramping up the Bear Island facility, implementing price increases in Containerboard, and enhancing profitability and efficiency.”
Q2 2024 Highlights:
• Sales: $1,180 million (up from $1,109 million in Q1 2024 and $1,168 million in Q2 2023)
• Operating Income: $34 million (up from $9 million in Q1 2024, but down from $64 million in Q2 2023)
• Net Earnings per Common Share: $0.01 (compared to a net loss of $0.20 per share in Q1 2024 and net earnings of $0.22 per share in Q2 2023)
• Adjusted EBITDA: $112 million (up from $103 million in Q1 2024, but down from $141 million in Q2 2023)
• Adjusted Net Earnings per Common Share: $0.08 (compared to $0.00 in Q1 2024 and $0.27 in Q2 2023)
• Net Debt: $2,093 million as of June 30, 2024 (up from $2,020 million as of March 31, 2024)
• Capital Expenditures: $23 million in Q2 2024 (down from $41 million in Q1 2024 and $104 million in Q2 2023)
corruga.expert
