Domtar Corporation reported net earnings of $19 million ($0.34 per share) for the 2Q 2020 compared to net earnings of $5 million ($0.09 per share) for the 1Q 2020 and net earnings of $18 million ($0.28 per share) for the 2Q 2019. Sales for the 2Q 2020 were $1 billion.
Operating income was $14 million in the 2Q 2020 compared to operating income of $19 million in the 1Q 2020. Depreciation and amortization totaled $71 million in the 2Q 2020.
The decrease in operating income in the 2Q 2020 was the result of lower volume and unfavorable productivity. These factors were partially offset by lower maintenance costs and lower salaries and wages, mostly due to wage subsidies, lower selling, general and administrative expenses, lower raw material costs, favorable exchange rates and lower fixed and other costs.
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and absorbent hygiene products.
