Norbord Inc. reported Adjusted EBITDA of $200 million for the 3Q 2017 versus $115 million in the 3Q 2016 and $165 million in the 2Q 2017. The improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes, as the company says in the press release received by Lesprom Network.
“Our 3Q performance continued to accelerate and we delivered our best Adjusted EBITDA result in 13 years,” said Peter Wijnbergen, Norbord’s President and CEO. “In North America, our shipment volumes increased 5% and benchmark OSB prices were 36% higher year-over-year due to already strong OSB demand that was pushed even further by the hurricanes in the US south. In Europe, our financial performance is back on track as improved panel prices outpaced the currency translation headwind from the weaker Pound Sterling and the negative impact of higher resin prices.”
Norbord recorded Adjusted earnings of $121 million in the 3Q 2017 versus $58 million in the 3Q 2016 and $95 million in the 2Q 2017.
Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB).
