Cascades Reports Q4 net loss and full year 2023 results

By Cascades Inc.
Cision Newswire
February 22, 2024
Category: Finance & Economics
Region: Canada, Canada East

KINGSEY FALLS, QC, – Cascades reports its unaudited financial results for the three-month period and fiscal year ended December 31, 2023. 2023 Annual highlights: Sales of $4,638 million (compared with $4,466 million in 2022); Operating income of $40 million (compared with $33 million in 2022); Net loss per common share of ($0.76) (compared with ($0.34) in 2022); Adjusted net earnings per common share1 of $1.08 (compared with $0.37 in 2022). …Discussing results for the fiscal year 2023, Mario Plourde, President and CEO, commented: “We are pleased with our strong annual performance in 2023, with our operations generating a 4% increase in sales and a 48% increase in EBITDA (A)1 levels compared to the prior year. Our Tissue Papers segment drove these stronger results, generating $182 million of EBITDA (A)1 in 2023, a significant improvement from last year that reflects the hard work done over the past two years.”

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