Resolute reports positive Q3, 2022 results

By Resolute Forest Products
Cision Newswire
November 3, 2022
Category: Finance & Economics
Region: Canada, United States

MONTRÉAL — Resolute Forest Products reported net income of $87 million for the quarter ended September 30, compared to net income of $80 million in the same period in 2021. Sales were $974 million in the quarter, an increase of $157 million from the year-ago period. Excluding special items, the company reported net income of $85 million compared to net income of $67 million in the third quarter of 2021. The company reported operating income of $124 million in the quarter, compared to $217 million in the second quarter. The $93 million reduction reflects lower realized prices in wood products ($185 million), partially offset by higher prices in the pulp, paper and tissue segments ($48 million), higher shipments in wood products ($40 million) and lower manufacturing costs ($12 million). …On July 5, the Paper Excellence Group entered into an agreement with Resolute to acquire all of the outstanding common shares of Resolute stock.

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