Western Forest Products Inc. (“Western” or the “Company”) reported adjusted EBITDA of $29.5 million in the second quarter of 2020. Despite the negative financial impacts and significant uncertainty arising from the novel Coronavirus pandemic (“COVID-19”), Western maintained employment and operating levels, and continued to service customers. Net income of $8.5 million ($0.02 net income per […]
U.S. Department of Commerce Preliminarily Finds Dumping of Wood Mouldings and Millwork Products from China; Issues Negative Preliminary Determination for Brazil
Today, the U.S. Department of Commerce (“Commerce”) announced an affirmative preliminary determination in the antidumping duty (“AD”) investigation of imports of wood mouldings and millwork products from China, and a negative preliminary determination in the AD investigation of imports of wood mouldings and millwork products from Brazil. Commerce preliminarily determined that exporters from China have […]
Freddie Mac: Mortgage Rates Drop Hitting Another Record Low in August 6th Report
Freddie Mac released the results of its Primary Mortgage Market Survey® (“PMMS”®), showing that the 30-year fixed-rate mortgage (“FRM”) averaged 2.88 percent, the lowest rate in the survey’s history dating back to 1971. “The resilience of the housing market continues as mortgage rates hit another all-time low, giving potential buyers more purchasing power and strengthening demand,” […]
Verso Corporation Announces $3.00 Special Cash Dividend and Reports Second Quarter 2020 Financial Results
Verso Corporation (“Verso”) reported financial results for the second quarter of 2020 and announced that it will pay a special cash dividend of $3.00 per share of common stock and a quarterly cash dividend of $0.10 per share of common stock, each to be paid on September 28, 2020. Second Quarter 2020 Highlights: – Net […]
Mohawk Industries Reports Q2 Results
Mohawk Industries, Inc. announced a 2020 second quarter net loss of $48 million and diluted loss per share of $0.68. Adjusted net earnings were $26 million, and earnings per share (“EPS”) was $0.37, excluding restructuring, acquisition and other charges. Net sales for the second quarter of 2020 were $2.0 billion, down 21% as reported and […]
Stella-Jones Reports Record Second Quarter 2020 Results
Stella-Jones Inc. (“Stella-Jones” or the “Company”) announced financial results for its second quarter ended June 30, 2020. “We are pleased with our financial performance, as each of our three core product categories continued to deliver improved results. Bolstered by exceptional demand for residential lumber, we realized double-digit sales growth of 15% and increased EBITDA by […]
Norbord Reports Second Quarter 2020 Earnings; Declares Quarterly Dividend
Norbord Inc. (“Norbord” and the “Company”) reported Adjusted EBITDA of $84 million for the second quarter of 2020 compared to $75 million in the first quarter of 2020 and $36 million in the second quarter of 2019. The quarter-over-quarter increase was primarily due to lower manufacturing costs, partially offset by lower shipment volumes, while the […]
BlueLinx Announces Distribution of LP® SmartSide® Products in the Northeast U.S.
BlueLinx Holdings Inc. (“BlueLinx”), a leading distributor of building and industrial products in the U.S., announced a new distribution agreement with LP Building Solutions (“LP”) in Northeast U.S. markets. BlueLinx will now distribute LP® SmartSide® and LP® SmartSide® ExpertFinish® Trim & Siding from its Bellingham, MA; Buffalo, NY; Burlington, VT; Denville, NJ; Long Island, NY; […]
Koppers Holdings Inc. Reports Second Quarter 2020 Results
Koppers Holdings, Inc., an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds, reported net income attributable to Koppers for the second quarter of $29.2 million, or $1.39 per diluted share, a second-quarter record, compared to net income of $14.7 million, or $0.70 per diluted share, in the prior year quarter. […]
Rayonier Advanced Materials Announces Second Quarter 2020 Results
Rayonier Advanced Materials Inc. (the “Company”) reported a loss from continuing operations for the quarter ended June 27, 2020 of $13 million or $0.20 per diluted share, compared to a loss of $19 million or $0.46 per diluted share for the same prior year quarter. Year-to-date net loss from continuing operations for the six months […]