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Domtar Corp (UFS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

UFS Quarterly Reports

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 FIRST QUARTER 2020 FINANCIAL RESULTS

Improved first quarter results; accelerating COVID-19 response plan

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

 

First quarter 2020 net earnings of $0.09 per share

Record quarter sales and EBITDA in Personal Care

Several measures taken in response to COVID-19

Suspension of quarterly dividends and share repurchase program

Fort Mill, SC, May 8, 2020 – 

Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $5 million ($0.09 per share) for the first quarter of 2020 compared to a net loss of $34 million ($0.59 per share) for the fourth quarter of 2019 and net earnings of $80 million ($1.27 per share) for the first quarter of 2019. Sales for the first quarter of 2020 were $1.3 billion.

Excluding items listed below, the Company had earnings before items1 of $5 million ($0.09 per share) for the first quarter of 2020 compared to earnings before items1 of $2 million ($0.03 per share) for the fourth quarter of 2019 and earnings before items1 of $91 million ($1.44 per share) for the first quarter of 2019.

ITEMS

Description

Segment

Line item

Amount

After tax

effect

EPS impact

(per share)

 

 

 

(in millions)

 

First quarter 2020

 

 

 

 

 

 

 

 

 

 

 

None

 

 

 

 

 

 

 

 

 

 

 

Fourth quarter 2019

 

 

 

 

 

 

 

 

 

 

 

Pension settlement

   loss

Pulp and Paper

Non-service components of net periodic benefit cost

$30

$22

$0.38

 

 

 

 

 

 

Paper machine

   closures

Pulp and Paper

Closure and

restructuring costs

$17

$13

$0.22

 

 

 

 

 

 

Margin improvement

   plan

Personal Care

Closure and

restructuring costs

$2

$1

$0.02

 

 

 

 

 

 

 

1 

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

1 / 5


The following information was filed by Domtar Corp (UFS) on Friday, May 8, 2020 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 (Loss) Income (Parenthetical) (Unaudited)
Consolidated Statements Of Earnings And Comprehensive (Loss) 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)
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 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)
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)
Subsequent Events
Subsequent Events - 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: 0001564590-20-023424
Submitted to the SEC: Fri May 08 2020 1:46:50 PM EST
Accepted by the SEC: Fri May 08 2020
Period: Tuesday, March 31, 2020
Industry: Paper Mills

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