Cascades reports Q3 profit down from year ago, revenue edged higher

KINGSEY FALLS, Que. – Cascades Inc. reported a third-quarter profit of $32 million, down $49 million a year ago, as its sales edged higher.

The packaging, tissue and paper company says the profit amounted to 32 cents per share for the quarter ended Sept. 30, down from 50 cents per diluted share a year ago.

Sales totalled $1.03 billion, up from $1.01 billion in the same quarter last year.

On an adjusted basis, Cascades says it lost a penny per share in its most recent quarter compared with an adjusted profit of 50 cents per share a year earlier.

Cascades chief executive Mario Plourde says the company continued to see inflationary pressures on input costs, notably raw materials, but also in labour, transportation and energy, across its operations in the third quarter.

The cost increases, he says, were partially offset by price increases and cost management initiatives.

This report by The Canadian Press was first published Nov. 11, 2021.

Companies in this story: (TSX:CAS)