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Domtar Corp (UFS) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

SEC Filings

Domtar Corp

CIK: 1381531 Ticker: UFS

 

Exhibit 99.1

 

 

 

234 Kingsley Park Drive

Fort Mill, South Carolina 29715

 

News Release

 

TICKER SYMBOL

Investor RELATIONS

MEDIA RELATIONS

(NYSE: UFS) (TSX: UFS)

Nicholas Estrela

Director

Investor Relations

Tel.: 514-848-5049

David Struhs

Vice-President

Corporate Services and Sustainability

Tel.: 803-802-8031

DOMTAR CORPORATION REPORTS PRELIMINARY THIRD QUARTER 2018 FINANCIAL RESULTS

Significant earnings improvement driven by strong price realizations and operational performance

(All financial information is in U.S. dollars, and all earnings per share results are diluted, unless otherwise noted).

 

Third quarter 2018 net earnings of $1.57 per share; earnings before items1 of $1.46 per share

Personal Care margin improvement plan expected to result in $25-30 million of annualized benefit

Hurricane related impacts of $6 million

Fort Mill, SC, November 1, 2018 – Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $99 million ($1.57 per share) for the third quarter of 2018 compared to net earnings of $43 million ($0.68 per share) for the second quarter of 2018 and net earnings of $70 million ($1.11 per share) for the third quarter of 2017. Sales for the third quarter of 2018 were $1.4 billion.

Excluding items listed below, the Company had earnings before items1 of $92 million ($1.46 per share) for the third quarter of 2018 compared to earnings before items1 of $41 million ($0.65 per share) for the second quarter of 2018 and earnings before items1 of $65 million ($1.03 per share) for the third quarter of 2017.

ITEMS

Description

Segment

Line item

Amount

After tax

effect

EPS impact

(per share)

 

 

 

(in millions)

 

Third quarter 2018

 

 

 

 

 

Repatriation tax benefit

Corporate

Income tax benefit

$7

$7

$0.11

 

 

 

 

 

 

Second quarter 2018

 

 

 

 

 

Gain on disposal of

   property, plant & equipment

Pulp & Paper

Other operating income

$3

$2

$0.03

 

 

 

 

 

 

Third quarter 2017

 

 

 

 

 

Gain on disposal of

   property, plant & equipment

Pulp & Paper

Other operating income

$4

$3

$0.05

Partial reversal of contingent

   consideration related to an

   acquisition

Corporate

Other operating income

$2

$2

$0.03

 

 

1 

  Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in the appendix.

1 / 4


The following information was filed by Domtar Corp (UFS) on Thursday, November 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Domtar Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Parenthetical) (Unaudited)
Consolidated Balance Sheets (Unaudited)
Consolidated Statement Of Shareholders' Equity (Parenthetical) (Unaudited)
Consolidated Statement Of Shareholders' Equity (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Earnings And Comprehensive Income (Parenthetical) (Unaudited)
Consolidated Statements Of Earnings And Comprehensive Income (Unaudited)
Basis Of Presentation
Changes In Accumulated Other Comprehensive Loss By Component
Changes In Accumulated Other Comprehensive Loss By Component (Tables)
Changes In Accumulated Other Comprehensive Loss By Component - Schedule Of Changes In Accumulated Other Comprehensive Loss By Component (Detail)
Changes In Accumulated Other Comprehensive Loss By Component - Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Loss (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Changes In Reserve For Environmental Remediation And Asset Retirement Obligations (Detail)
Derivatives And Hedging Activities And Fair Value Measurement
Derivatives And Hedging Activities And Fair Value Measurement (Tables)
Derivatives And Hedging Activities And Fair Value Measurement - Additional Information (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Currency Values Under Significant Currency Positions Pursuant To Currency Derivatives Outstanding (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Derivative Financial Instruments For Natural Gas Contracts Outstanding (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Fair Value Of Financial Instruments (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Fair Value Of Financial Instruments (Parenthetical) (Detail)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Reconciliation Between Basic And Diluted Earnings Per Common Share (Detail)
Earnings Per Common Share - Securities That Could Potentially Dilute Basic Earnings Per Common Share In Future (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Additional Information (Detail)
Intangible Assets - Amortization Expense Related To Intangible Assets (Detail)
Intangible Assets - Components Of Intangible Assets (Detail)
Inventories
Inventories (Tables)
Inventories - Components Of Inventories (Detail)
Other Operating Loss (Income), Net
Other Operating Loss (Income), Net (Tables)
Other Operating Loss (Income), Net - Components Of Other Operating Loss (Income), Net (Detail)
Pension Plans And Other Post-Retirement Benefit Plans
Pension Plans And Other Post-Retirement Benefit Plans (Tables)
Pension Plans And Other Post-Retirement Benefit Plans - Additional Information (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Components Of Net Periodic Benefit Cost For Pension Plans And Other Post-Retirement Benefit Plans (Detail)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Policies)
Recent Accounting Pronouncements (Tables)
Recent Accounting Pronouncements - Additional Information (Detail)
Recent Accounting Pronouncements - Schedule Of Reclassification To Consolidated Statement Of Earnings And Comprehensive (Loss) Income (Detail)
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Additional Information (Detail)
Segment Disclosures - Analysis And Reconciliation Of Reportable Segment Information (Detail)
Segment Disclosures - Analysis And Reconciliation Of Reportable Segment Information (Parenthetical) (Detail)
Shareholders' Equity
Shareholders' Equity - Additional Information (Detail)
Subsequent Event
Subsequent Event - Additional Information (Detail)
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information (Tables)
Supplemental Guarantor Financial Information - Additional Information (Detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Balance Sheet (Detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Statement Of Cash Flows (Detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Statement Of Earnings And Comprehensive (Loss) Income (Detail)
Ticker: UFS
CIK: 1381531
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-028266
Submitted to the SEC: Thu Nov 08 2018 2:02:09 AM EST
Accepted by the SEC: Thu Nov 08 2018
Period: Sunday, September 30, 2018
Industry: Paper Mills

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