Newspaper article The Canadian Press

Domtar Beats Expectations as Q3 Profits Surge despite Lower Revenues

Newspaper article The Canadian Press

Domtar Beats Expectations as Q3 Profits Surge despite Lower Revenues

Article excerpt

Domtar Q3 profit rises to US$59 million

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MONTREAL - Domtar beat expectations as it recorded higher profits in the third quarter despite weaker overall revenues.

The Montreal-based maker of pulp, paper and personal care products said it earned US$59 million, or 94 cents US per diluted share, for the three months ended Sept. 30.

That compared to US$11 million, or 17 cents US per share, a year earlier.

Excluding one-time items such as closure and restructuring charges, adjusted earnings increased 31 per cent to US$71 million or US$1.13 per share.

Overall revenues dipped to US$1.27 billion from US$1.29 billion in the third quarter of 2015.

Domtar (TSX:UFS) was expected to record 97 cents US per share in adjusted profits on US$1.29 billion in profits, according to analysts polled by Thomson Reuters. …

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