Feb 5, 2020
Norbord posts US$12-million quarterly loss as sales drop
The Canadian Press
TORONTO -- Norbord Inc. reported a loss of US$12 million in its latest quarter as sales at the oriented strand board producer fell sharply.
The company says its fourth-quarter saw lower North American OSB prices as well as lower shipment volumes compared with a year ago.
Norbord, which keeps its books in U.S. dollars, says its loss amounted to 15 cents per share for the quarter ended Dec. 31 compared with a loss of US$28 million or 32 cents per share in the last quarter of 2018 when it took an US$80-million impairment charge.
Sales in the quarter totalled US$373 million, down from US$501 million.
On an adjusted basis, Norbord says it lost US$11 million or 13 cents per share in the fourth quarter compared with an adjusted profit of US$26 million or 30 cents per share in the same quarter last year.
Norbord has 17 plant locations in the United States, Canada and Europe.
