Norbord Inc. reported Adjusted EBITDA of $724 million for the full-year 2018 compared to $672 million in 2017 on higher realized North American oriented strand board (OSB) prices and shipment volumes, as well as higher European panel prices.
For the full-year 2018, Norbord recorded Adjusted earnings of $412 million or $4.74 per diluted share ($4.76 per basic share) versus $389 million or $4.49 per diluted share ($4.51 per basic share) in 2017.
For the 4Q 2018, Norbord recorded Adjusted EBITDA of $70 million versus $204 million in the 4Q 2017 and $211 million in the 3Q 2018. Adjusted EBITDA declined versus both comparative periods due to lower North American OSB prices and shipments.
Norbord recorded Adjusted earnings of $26 million or $0.30 per share (basic and diluted) in the 4Q 2018 versus $123 million or $1.41 per diluted share ($1.42 per basic share) in both the prior quarter and the 4Q 2017.
“2018 was an excellent year for Norbord,” said Peter Wijnbergen, Norbord’s President and CEO. “Despite a disappointing 4Q, we delivered our best-ever Adjusted EBITDA of $724 million as North American OSB prices remained strong for much of the year and we shipped more product to meet increased demand. Our European business had an outstanding year, more than doubling their Adjusted EBITDA as robust demand growth in our key markets supported higher panel prices.”
Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB).
