Resolute Forest Products Inc. reported net income for the quarter ended September 30, 2018, of $117 million, or $1.25 per diluted share, compared to $24 million, or $0.26 per share, in the same period in 2017. Sales were $974 million in the 3Q, an increase of $89 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 $96 million, or $1.03 per share, compared to $31 million, or $0.34 per share, in the 3Q 2017.
The company's operating income improved by $89 million, compared to the 3Q 2017.
"Our best pulp quarter combined with continued positive market dynamics for paper helped offset the effects of a weaker lumber market, leading to another quarter of record results and a further reduction in leverage. Our continued focus on improving operational performance also resulted in a notable increase in the profitability of our specialty papers business," said Yves Laflamme, president and CEO.
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers.
