Norbord Reports Second Quarter 2020 Earnings; Declares Quarterly Dividend
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Norbord (OSB) Misses Q2 EPS by 78c, Revenues Miss
August 5, 2020 6:13 AM EDTNorbord (NYSE: OSB) reported Q2 EPS of $0.22, $0.78 worse than the analyst estimate of $1.00. Revenue for the quarter came in at $421 million versus the consensus estimate of $532.58 million.
Q2 2020 HIGHLIGHTS
Adjusted EBITDA of $84 million and Adjusted earnings of $0.38 per diluted shareReduced North American unit manufacturing costs by 9% quarter-over-quarter and 7% year-over-yearExtended maturity of committed revolving bank lines to May 2022 and increased aggregate commitment from $245 million to $300 millionLiquidity of $378 million at quarter-endDeclared quarterly variable dividend of C $0.30... More