Domtar Corporation reported a net loss of $59 million ($1.07 per share) for the 4Q 2020, compared to a net loss of $92 million ($1.67 per share) for the 3Q 2020, and a net loss of $34 million ($0.59 per share) for the 4Q 2019. Sales for the 4Q 2020 were $0.9 billion.
For fiscal year 2020, net loss amounted to $127 million ($2.29 per share), compared to net earnings of $84 million ($1.37 per share) for fiscal year 2019. The Company had earnings from continuing operations before items of $1 million ($0.02 per share) for fiscal year 2020, compared to earnings from continuing operations before items of $149 million ($2.43 per share) for fiscal year 2019. Sales were $3.7 billion for fiscal year 2020.
“Despite the challenges from the Covid-19 pandemic, our teams demonstrated resiliency by continuously adapting to changing market conditions which led us to achieve solid results. I'm proud of the teamwork that allowed us to not just stand up in the face of adversity, but to move forward during such a challenging time and in accordance with our strategy. We met many goals last year; we prioritized maximizing cash, reducing costs, and remaining an agile, reliable partner to our customers. We believe these changes will improve this Company for the long-term,” said Daniel Buron, Senior Vice-President, CFO and Acting CEO.
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.
