Ten largest US-based forest and paper companies report Q3 net earnings of US$1.3B, down from US$1.5B in year-ago period, as 10 largest European-based forest and paper companies shift to total earnings of €275.3M from losses of €122.5M: PwC
November 30, 2012
– PwC is pleased to release the Net Earnings Summary Q3 2012. The quarterly report is prepared by PwC from financial statements issued by the companies. The summary identifies trends in performance by comparing financial results with previous periods.
Key highlights include:
Canada: Western Canadian based companies posted net earnings of $775.11 million compared with net earnings of $28.4 million in the second quarter of 2012 and net losses of $243.8 million in the third quarter of 2011. Eastern Canadian based companies posted net earnings of $14.8 million compared to net losses of $36.1 million for the second quarter of 2012 and net losses of $82.8 million in the third quarter of 2011.
US: Ten of the largest US-based forest and paper companies reported net earnings of US $1.3 billion for the third quarter of 2012, up from US $1.1 billion in the second quarter of 2012 and down from US $1.5 billion in the third quarter of 2011.
Europe: Ten of the largest European based forest and paper companies reported overall earnings of € 275.3 million for the third quarter of 2012, down from earnings of € 482.6 million in the second quarter of 2012, but up from losses of € 122.5 million in the third quarter of 2011.
Click here to download the full report or visit www.pwc.com/ca/en/forest-paper-packaging/global-net-earnings-summary.jhtml
Of further interest:
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1 Western Canadian Q3 2012 earnings were significantly impacted by non-cash accounting adjustments for Catalyst Paper Corporation.