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Domtar Announces Financial Results

Reports a net loss of $92 million; personal care sales up

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Domtar Corporation reported a net loss of $92 million for the third quarter of 2020 compared to net earnings of $19 million for the second quarter of 2020 and net earnings of $20 million for the third quarter of 2019. Sales for the third quarter of 2020 were $1.1 billion.

“We performed very well in the quarter in a challenging operating environment. Our teams have demonstrated tremendous resiliency, continuously adapting to changing market conditions, maintaining a keen focus on health and safety and decisively taking actions to serve our customers in the face of unprecedented conditions,” says John D. Williams, president and chief executive officer. “We benefited from further market recovery and we made good progress with some of our strategic initiatives.”

In the Personal Care segment, sales were $243 million in the quarter, up from $219 million during the same quarter of 2019.

Williams adds, “In Personal Care, we had a strong cost performance in the quarter. We continue to execute well against our objectives, both commercially and operationally, which has contributed to our strong year-to-date performance.”

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