Resolute Gains From Lumber Tailwind

Resolute Forest Products Inc. had net income of $87 million for the first quarter of 2021 compared to net loss of $1 million for the first quarter of 2020. Sales for the quarter were $873 million, an increase of $184 million from the year-ago period. "This has been a very good quarter for our strong and growing wood products business as the lumber tailwind continues," says Remi G. Lalonde, president and chief executive officer. "We are making good progress with the ramp-up at our El Dorado, AK, and Ignace, ON, sawmills, both of which are now running on two shifts, helping to increase production in favourable markets.” The wood products segment generated operating income of $221 million in the quarter, a $93 million improvement from the fourth quarter. Operating income in the market pulp segment was $4 million, an improvement of $8 million over the prior quarter.