Norbord Inc. reported Adjusted EBITDA of $165 million for the 2Q 2017 versus $94 million in the 2Q 2016 and $103 million in the 1Q 2017. The improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes.
North American operations generated Adjusted EBITDA of $157 million compared to $85 million in the same quarter last year and $102 million in the prior quarter. European operations delivered Adjusted EBITDA of $9 million versus $11 million in the same quarter last year and $6 million in the prior quarter.
“Our 2Q Adjusted EBITDA result is our best since 2004,” said Peter Wijnbergen, Norbord’s President and CEO. “The improved operational performance of our North American mills resulted in lower manufacturing costs and higher shipments this quarter. OSB demand remains strong as US housing starts continue to recover and benchmark OSB prices are currently at multi-year highs.”
Norbord recorded Adjusted earnings of $95 million or $1.10 per share (basic and diluted) in the 2Q 2017 versus $42 million or $0.49 per share (basic and diluted) in the 2Q 2016 and $50 million or $0.58 per share (basic and diluted) in the 1Q 2017.
Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard and related value-added products.
