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Jul 27, 2023Cascades Earnings Jump With Higher Tissue Papers Sales
Dec 10, 2023By Robb M. Stewart
Cascades' earnings more than doubled in the second quarter driven by its tissue papers business, which logged its strongest performance in three years.
The Canadian packaging and tissue products company recorded net earnings of 22 million Canadian dollars ($16.5 million), or C$0.22 a share, up from C$10 million, or C$0.10, a year earlier.
On an adjusted basis, per-share earnings rose to C$0.27, ahead of the C$0.25 mean estimate of analysts polled by FactSet.
Sales for the quarter were 4.4% higher at C$1.17 billion.
Tissue papers sales were 22% higher at C$416 million, while overall packaging products sales slipped 1.4% to C$717 million.
Write to Robb M. Stewart at [email protected]
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