Photo: Norbord Inc.

By Canadian Press

Norbord

OSB producer Norbord reports Q4 loss, sales down

Feb 5, 2020 | 10:06 AM

TORONTO – Norbord Inc. reported a loss of US$12 million in its latest quarter as sales at the oriented strand board producer fell sharply.

The company says its fourth-quarter saw lower North American OSB prices as well as lower shipment volumes compared with a year ago.

Norbord, which keeps its books in U.S. dollars, says its loss amounted to 15 cents per share for the quarter ended Dec. 31 compared with a loss of US$28 million or 32 cents per share in the last quarter of 2018 when it took an US$80-million impairment charge.

Sales in the quarter totalled US$373 million, down from US$501 million.

On an adjusted basis, Norbord says it lost US$11 million or 13 cents per share in the fourth quarter compared with an adjusted profit of US$26 million or 30 cents per share in the same quarter last year.

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Norbord has 17 plant locations in the United States, Canada and Europe, including Grande Prairie and High Level.