Norbord Earnings Rise
Norbord Inc. had adjusted EBITDA of $84 million for the second quarter of 2020, up from adjusted EBITDA of $36 million in the second quarter of 2019. The increase was primarily due to higher realized North American oriented strand board (OSB) prices, as well as lower manufacturing costs, partially offset by lower shipment volumes. North American operations had adjusted EBITDA of $84 million compared to $18 million in the year-ago period. In North America, second quarter shipments were down 12 per cent year-over-year. Overall net sales for the quarter were $508.6 million, up from $413.7 million last year. Adjusted earnings were $31 million compared to a loss of $8 million last year.