Global Forest and Paper Products Companies Third Quarter Earnings Mixed

Dec. 19, 2013 (Press Release) - Canadian based forest products companies reported generally weaker net earnings for the third quarter of 2013, compared to the third second quarter of 2013. Although log prices remained strong, lumber and panel prices were volatile throughout the quarter. Pulp prices have been mixed, with softwood pulp prices relatively strong and hardwood pulp relatively weak. Newsprint prices remained steady through the quarter and paper prices were mixed.

United States and European based companies reported generally stronger earnings in the quarter, while results for Japan and Emerging Markets based companies were mixed.

Western Canada
Western Canadian based companies posted net earnings of $113.0 million compared with net earnings of $379.8 million in the second quarter of 2013 and net earnings of $770.3 million in the third quarter of 2012.

Eastern Canada
Eastern Canadian based companies posted net losses of $570.7 million in the third quarter, compared to net earnings of $13.2 million in the second quarter of 2013 and net earnings of $20.8 million in the third quarter of 2012.

United States
US-based forest and paper companies all reported positive results, with net earnings of US $1.6 billion for the third quarter of 2013, up from US $1.3 billion in the second quarter of 2013 and US $1.2 billion in the third quarter of 2012.

Europe
European based forest and paper companies reported net earnings of 543.2 million for the third quarter of 2013, up from 378.9 million in the second quarter of 2013 and 275.2 million in the third quarter of 2012.

Japan
Six of the largest forest and paper companies in Japan posted net earnings of US $358.8 million in the third quarter of 2013, down from US $489.0 million in the second quarter of 2013 and up from earnings of US $ 261.1 million in the same period of 2013.

Emerging Markets
Three of the largest forest and paper companies in emerging markets (Brazil, Chile and South Africa) reported net losses of US $74.8 million in the third quarter of 2013, compared to losses of US $298.5 million in the second quarter of 2013 and earnings of US $3.7 million in the third quarter of 2012.

NOTE: This Net Earnings Summary is prepared by PwC based on financial statements issued by the noted companies. Earnings are reported in regional currencies unless otherwise noted. All comparative figures are with the three months ended September 30, 2013 unless otherwise specified.

Download the full summary to learn more details as well as results for the rest of the globe:
Global Forest and Paper Industry: Net Earnings Summary - Three months ended September 30, 2013

SOURCE: PwC