Oriented strand board producer Norbord reports US$12 Q4 loss, sales down

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.

Norbord has 17 plant locations in the United States, Canada and Europe.

This report by The Canadian Press was first published Feb. 5, 2020.

Companies in this story: (TSX:OSB)