Resolute Forest Products Inc. reported net income for the quarter ended June 30, 2019, of $25 million, or $0.27 per diluted share, compared to $72 million, or $0.77 per diluted share, in the same period in 2018. Sales were $755 million in the 2Q 2019, a decrease of $221 million from the year-ago period, as the company said in the press release received by Lesprom Network.
Excluding special items, the company reported net income of $11 million, or $0.12 per diluted share, compared to $66 million, or $0.71 per diluted share, in the second quarter of 2018.
The company reported operating income of $40 million in the quarter, compared to $64 million in the first quarter.
"This quarter's results were most affected by lower pricing in all of our business segments, with the notable exception of tissue. Benefiting from higher pricing and improved productivity, our tissue segment generated marginally positive EBITDA this quarter," said Yves Laflamme, president and CEO.
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products.