Operating income of $62 million for the 3Q 2015 decreased by $33 million, or 35%, compared to the 3Q 2014.
Roger W. Stone, Chairman and CEO, stated, "The strength of our operations generated 3Q free cash flow of $73 million, up 24% over the prior year. The increase in cash flow includes $17 million generated by Victory, while our legacy operations also performed very well despite a 12 day work stoppage by our union at the Longview mill. No one wins in a strike, and this strike was no exception. The strike cost KapStone approximately $14 million, and our Longview union employees lost approximately $2 million of wages and benefits”.
KapStone Paper and Packaging Corporation is the fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the United States.
