Norbord reports Q1 earnings of $75 million

May 6, 2020

By: The Working Forest Staff

TORONTO — Norbord has reported Adjusted EBITDA of $75 million for the first quarter of 2020 compared to $27 million in the fourth quarter of 2019 and $42 million in the first quarter of 2019. The quarter-over-quarter increase was primarily driven by higher realized North American oriented strand board prices and shipments while the year-over-year increase was driven by higher realized North American OSB prices and lower raw material and energy prices, partially offset by lower shipments. North American operations generated Adjusted EBITDA of $68 million compared to $20 million in the fourth quarter of 2019 and $23 million in the first quarter of 2019, and European operations delivered Adjusted EBITDA of $10 million compared to $11 million in the fourth quarter of 2019 and $21 million in the first quarter of 2019.

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