Norbord Inc. reported Adjusted EBITDA of $204 million for the 4Q 2017 versus $200 million in the prior quarter and $115 million in the 4Q 2016.
For the full-year 2017, Norbord recorded Adjusted EBITDA of $672 million compared to $385 million in 2016 on higher North American OSB prices and shipment volumes. North American operations generated Adjusted EBITDA of $638 million compared to $352 million in the prior year and European operations delivered Adjusted EBITDA of $41 million, in line with the prior year.
“2017 was an outstanding year for Norbord and we delivered record Adjusted EBITDA of $672 million, said Peter Wijnbergen, Norbord’s President and CEO. “US housing starts continued to improve, led by stronger growth in the single-family segment, driving increased North American OSB demand and prices. Our European business had another solid year due to record sales volume and improved prices for all our panel products across our key markets.”
Norbord recorded Adjusted earnings of $123 million or $1.41 per diluted share ($1.42 per basic share) in the 4Q 2017 versus $121 million or $1.39 per diluted share ($1.40 per basic share) in the 3Q 2017 and $55 million or $0.64 per share (basic and diluted) in the 4Q 2016.
For the full-year 2017, Norbord recorded Adjusted earnings of $389 million or $4.49 per diluted share ($4.51 per basic share) versus $174 million or $2.02 per diluted share ($2.03 per basic share) in 2016.
Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB).
