Resolute Reports Second Quarter 2022 Results

• Q2 GAAP net income of $256 million / $3.29 per diluted share
• Adjusted EBITDA of $260 million
• Net cash position at $53 million and liquidity at $1.3 billion at quarter-end
• GHG emissions reduction targets approved by the Science Based Targets initiative (SBTi)
• Entered into agreement to be acquired by Paper Excellence Group

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported net income for the quarter ended June 30 of $256 million, or $3.29 per diluted share, compared to net income of $268 million, or $3.34 per diluted share, in the same period in 2021. Sales were $1,058 million in the quarter, a decrease of $82 million from the year-ago period. Excluding special items, the company reported net income of $155 million, or $2.00 per diluted share, compared to net income of $300 million, or $3.74 per diluted share, in the second quarter of 2021.

The company reported operating income of $217 million in the quarter, compared to $235 million in the first quarter. The $18 million variation mainly reflects higher shipments ($47 million) across all segments, more than offset by higher manufacturing costs ($55 million), mainly related to fiber ($25 million) and maintenance ($19 million) costs, as well as energy prices ($7 million). The overall impact of pricing was neutral as higher realized transaction prices in the pulp and paper segments were offset by lower average transaction prices in the wood products segment. The company also recorded higher freight ($8 million) and selling, general and administrative expenses ($4 million).
details at: https://resolutefp.mediaroom.com/2022-08-04-Resolute-Reports-Second-Quarter-2022-Results

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