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Domtar Corp (UFS) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

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 SECOND QUARTER 2019 FINANCIAL RESULTS

Results impacted by high maintenance spending and low paper volumes

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

 

Second quarter 2019 net earnings of $0.28 per share; earnings before items1 of $0.57 per share

Paper prices $22 per ton higher quarter-over-quarter

73,000 tons of market-related downtime in Paper

Fort Mill, SC, August 1, 2019 – 

Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $18 million ($0.28 per share) for the second quarter of 2019 compared to net earnings of $80 million ($1.27 per share) for the first quarter of 2019 and net earnings of $43 million ($0.68 per share) for the second quarter of 2018. Sales for the second quarter of 2019 were $1.3 billion.

Excluding items listed below, the Company had earnings before items1 of $36 million ($0.57 per share) for the second quarter of 2019 compared to earnings before items1 of $91 million ($1.44 per share) for the first quarter of 2019 and earnings before items1 of $41 million ($0.65 per share) for the second quarter of 2018.

ITEMS

Description

Segment

Line item

Amount

After tax

effect

EPS impact

(per share)

 

 

 

(in millions)

 

Second quarter 2019

 

 

 

 

 

 

 

 

 

 

 

Margin improvement

   plan

Personal Care

Impairment of long-lived assets

$15

$12

$0.19

 

 

 

 

 

 

Margin improvement

   plan

Personal Care

Closure and

restructuring costs

$8

$6

$0.10

 

 

 

 

 

 

First quarter 2019

 

 

 

 

 

 

 

 

 

 

 

Margin improvement

   plan

Personal Care

Impairment of long-lived assets

$10

$8

$0.12

 

 

 

 

 

 

Margin improvement

   plan

Personal Care

Closure and

restructuring costs

$4

$3

$0.05

 

 

 

 

 

 

 

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, August 1, 2019 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 (Loss) (Parenthetical) (Unaudited)
Consolidated Statements Of Earnings And Comprehensive Income (Loss) (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)
Closure And Restructuring Costs And Impairment Of Long-Lived Assets
Closure And Restructuring Costs And Impairment Of Long-Lived Assets - Additional Information (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)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Summary Of Components Of Lease Expense (Detail)
Leases - Summary Of Maturities Of Lease Commitments (Detail)
Leases - Summary Of Maturities Of Lease Liabilities (Detail)
Leases - Summary Of Supplemental Balance Sheet Information Related To Leases (Detail)
Leases - Summary Of Supplemental Cash Flow Information Related To Leases (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 - Additional Information (Detail)
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Additional Information (Detail)
Segment Disclosures - Analysis And Reconciliation Of Reportable Segment Information (Detail)
Shareholders' Equity
Shareholders' Equity - 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: 0001564590-19-030407
Submitted to the SEC: Thu Aug 08 2019 3:02:29 AM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Sunday, June 30, 2019
Industry: Paper Mills

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