Cascades reports Q3 loss, sales up from year ago
Cascades says it net loss attributable to shareholders amounted to $2 million or two cents per diluted share for the quarter ended Sept. 30.
Cascades Inc. reported a loss in its latest quarter compared with a profit a year ago as its sales rose.
The company says it net loss attributable to shareholders amounted to $2 million or two cents per diluted share for the quarter ended Sept. 30.
The result compared with a profit of $32 million or 32 cents per diluted share a year earlier.
Sales totalled $1.17 billion, up from $1.03 billion in the same quarter last year.
On an adjusted basis, Cascades says it earned 20 cents per share in its latest quarter compared with an adjusted loss of a penny per share in the same quarter last year.
Cascades CEO Mario Plourde says the company’s third-quarter performance was in line with expectations notwithstanding the fact that its tissue segment continued to face unprecedented cost inflation and reduced productivity due to labour scarcity and inefficiencies.
