Favourable Pricing Drives Resolute Income

Resolute Forest Products had net income of $210 million for the first quarter of 2022, up from net income of $87 million in the first quarter of 2021. Sales were $945 million in the quarter, an increase of $72 million from the year-ago period. Excluding special items, the company had net income of $177 million compared to net income of $119 million. The company says the earnings reflect favourable pricing momentum in all segments. Operating income was $235 million for the quarter, up $58 million over the year-ago period. The wood products segment had operating income of $219 million in the quarter, a $137 million improvement from the previous quarter. The market pulp segment had operating income of $22 million in the first quarter, $3 million higher than in the prior quarter.