Executive Summary
◦Second quarter 2017 net sales of $4.6 billion decreased 1 percent compared to the year-ago period, as organic sales were down 1 percent. Organic sales fell 2 percent in North American consumer products, reflecting category softness, less promotion shipments and competitive activity. Outside North America, organic sales declined 3 percent in developed markets and rose 2 percent in developing and emerging markets.
◦Diluted net income per share for the second quarter was $1.49 in 2017 and $1.56 in 2016. Results were impacted by lower sales and input cost inflation, while the comparison benefited from cost savings. Second quarter adjusted earnings per share were $1.53 in 2016, which excludes items described later in this release.
◦Full-year 2017 net sales and organic sales are expected to be similar, or up slightly, year-on-year. The company's previous estimate was for sales and organic sales to be up 1 to 2 percent.
◦The company anticipates full-year 2017 earnings per share will be at the low end of its target range of $6.20 to $6.35. Click Read More below for additional details.
Interfor Corporation recorded Net earnings in Q3’22 of $3.5 million, or $0.06 per share, compared to $269.9 million, or $4.92 per share in Q2’22 and $65.6 million, or $1.05 per share in Q3’21. Adjusted net earnings in Q3’22 were $31.5 million compared to $280.2 million in Q2’22 and $46.7 million in Q3’21.
Kruger Inc. announced a $6.5-million investment to implement an innovation project aimed at diversifying production at its Wayagamack Mill in Trois-Rivières. The initiative will enable the production of innovative label paper grades, reinforcing the Wayagamack Mill's leadership in Québec and North America. The new, state-of-the-art equipment will enhance the Mill's capacity for innovation, versatility and sustainability, helping to secure the future of its operations and its 285 jobs. The project was unveiled in the presence of Jean Boulet, Member for Trois-Rivières, Québec Minister of Labour and Minister Responsible for the Mauricie Region, the Abitibi-Témiscamingue Region and the Nord-du-Québec Region (on behalf of Maïté Blanchette Vézina, Minister of Natural Resources and Forests and Minister Responsible for the Bas-Saint-Laurent Region and the Gaspésie–Îles-de-la-Madeleine Region), and Sylvain Bricault, General Manager of the Kruger Wayagamack Mill. The initiative was made possible by a $2.5 million funding from the Government of Québec under the Programme Innovation Bois of the ministère des Ressources naturelles et des Forêts.