Temple-Inland reported 3Q 2010 net income of $125 million
Oct 20, 2010. Temple-Inland Inc. reported 3Q 2010 net income of $125 million, compared with 2Q 2010 net income of $20 million, and 3Q 2009 net income of $67 million. 3Q 2010 net income excluding special items was $45 million.
Oct 20, 2010. /Lesprom Network/. Temple-Inland Inc. reported 3Q 2010 net income of $125 million, compared with 2Q 2010 net income of $20 million, and 3Q 2009 net income of $67 million. 3Q 2010 net income excluding special items was $45 million.
Doyle R. Simons, Chairman and CEO of Temple-Inland Inc., said, “We executed well in the quarter and delivered strong operating results, return on investment, and cash flow from operations.
“In Corrugated Packaging, we had record operating income of $121 million and generated a return on investment of 24%. Our mills ran exceptionally well, and we are pleased with our continued progress on Box Plant Transformation II. We also benefited from higher box prices, lower input costs and less mill maintenance downtime in the quarter.
“In Building Products, housing markets deteriorated in the quarter, and pricing was lower for all of our products, including a 26% decline in lumber prices. Through the first nine months of 2010, we have generated $27 million of EBITDA.
“Looking ahead, we are positioned for another solid quarter in Corrugated Packaging. In Building Products, we remain focused on lowering costs and generating cash in these challenging markets.”
Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of 7 mills and 60 converting facilities.