Canadian Manufacturing

Cascades reports a Q3 profit that is less than a year ago, revenue edges higher

Cascades chief executive Mario Plourde says the company continued to see inflationary pressures on input costs, notably raw materials.

November 11, 2021  The Canadian Press

Cascades Inc. reported a third-quarter profit of $32 million, down $49 million a year ago, as its sales edged higher.

The packaging, tissue and paper company says the profit amounted to 32 cents per share for the quarter ended Sept. 30, down from 50 cents per diluted share a year ago.

Sales totalled $1.03 billion, up from $1.01 billion in the same quarter last year.

On an adjusted basis, Cascades says it lost a penny per share in its most recent quarter compared with an adjusted profit of 50 cents per share a year earlier.

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Cascades chief executive Mario Plourde says the company continued to see inflationary pressures on input costs, notably raw materials, but also in labour, transportation and energy, across its operations in the third quarter.

The cost increases, he says, were partially offset by price increases and cost management initiatives.