Norbord Inc. reported adjusted EBITDA of $36 million in the 2Q 2019 compared to $42 million in the 1Q 2019 and $273 million in the 2Q 2018. The decrease versus both comparative periods was primarily due to lower North American oriented strand board (OSB) prices, as the company said in the press release received by Lesprom Network.
“US homebuilding demand continued to be held back by affordability concerns and persistent record-breaking wet weather,” said Peter Wijnbergen, Norbord’s President and CEO. “For the third quarter in a row, we took extensive downtime across our North American mills which negatively impacted our production volumes and manufacturing costs. We also made the difficult decision to indefinitely curtail our 100 Mile House, BC mill starting in August as the mill is no longer viable due to a lack of wood supply at economic prices.”
Norbord recorded an adjusted loss of $8 million or $0.10 per share (basic and diluted) in the 2Q 2019 compared to an adjusted loss of $2 million or $0.02 per share (basic and diluted) in the 1Q 2019 and adjusted earnings of $167 million or $1.92 per diluted share ($1.93 per basic share) in the 2Q 2018.
Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB).
