Cascades to Release First Quarter 2021 Earnings on May 6, 2021 and Provides Updated Operational Outlook for the Period
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KINGSEY FALLS, QC, April 6, 2021 /PRNewswire/ - Cascades Inc. (TSX: CAS) will release its first quarter 2021 financial results before market open on Thursday, May 6, 2021, and will hold a conference call at 9:00 AM ET, to discuss the results. The conference call can be accessed by phone or via the Company's website:
1-888-231-8191 / 1-647-427-7450 (international)
1-855-859-2056 / 1-416-849-0833 (international)
Access code # 1148359
(available until June 6, 2021)
Webcast (live and archived):
www.cascades.com, "Investor" section
Cascades' near-term outlook provided with fourth quarter 2020 results on February 25, 2021, reflected the best information available at the time and the Company's estimates regarding operational performance for the period. The Company would like to highlight the following changes seen in certain market factors that will impact this outlook:
- Raw material cost inflation in fibre prices in North America and Europe in March1 that is above raw material pricing headwinds detailed in the Company's previous outlook. Specifically, a US$10/s.t. increase in OCC (Old Corrugated Containers #11) average index price reported in the U.S. Northeast region, and price increases of €40/tonne3 to €55/tonne3 reported by RISI for several European markets.
- A more pronounced easing of retail consumer tissue buying levels than previously expected driven by a combination of customer inventory management that began in mid-February, and continued demand variations related to the ongoing Covid-19 pandemic. Sequential retail tissue volumes will also reflect the impact of inclement weather during the quarter, most notably in the Southern United States, which resulted in approximately 5 days of lost production in one of the Corporation's Southern U.S. tissue plants.
- Weather, along with higher gas prices, have contributed to higher overall transportation costs on a sequential basis across our business segments, most notably in the U.S.
1 Source : RISI – Old Corrugated Containers (OCC #11), FOB, OBM, published U.S. Northeast average. RISI – 1.05 Old Corrugated Containers, averages published for France & Italy.
About Cascades Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs 12,000 women and men, who work in 85 production units in North America and Europe. With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS.
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Certain statements in this press release, including statements regarding future results and performance, are forward-looking statements within the meaning of securities legislation based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for the Company's products, the prices and availability of raw materials, changes in the relative values of certain currencies, fluctuations in selling prices and adverse changes in general market and industry conditions. This press release may also include price indices as well as variance and sensitivity analyses that are intended to provide the reader with a better understanding of the trends related to the Company's business activities. These items are based on the best estimates available to the Company.
SOURCE Cascades Inc.
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