Market News of Note

The Notes were offered in a private placement and there was no public offering of the Notes.

"As we look forward to the combination with DS Smith, we expect the transaction will close early in the Q1 2025."

The company's bottom line totaled $51 million, or $0.51 per share. This compares with $131 million, or $1.32 per share, in last year's third quarter.

The decline was driven by a $109 million impact from the divestiture of the Augusta, Georgia, bleached paperboard manufacturing facility and reduced open market sales participation, and a $35 million net decline in sales from packaging operations, where price declines were partially offset by volume growth.

U.S. containerboard production in Q3 2024 increased 3% compared to Q3 2023. It was up 6% when compared to the same nine months of 2023, according to the American Forest & Paper Association (AF&PA).

PotlatchDeltic Corporation reported net income of $3.3 million, or $0.04 per diluted share, on revenues of $255.1 million for the quarter ended September 30, 2024.

UPM-Kymmene Corporation posted a 32% increase in comparable EBIT for Q3 2024, reaching Euro 291 million, despite a 2% drop in sales to Euro 2,521 million from Euro 2,584 million in the same quarter last year.

UFP Industries, Inc. (UFPI) announced Q3 2024 results including net sales of $1.65 billion, net earnings attributable to controlling interest of $100 million, and earnings per diluted share of $1.64.

The benefits for Metsä Group's contract customers will get even better when Metsä Group reforms its price guarantee method for wood trade, making it more transparent.

Canfor Corporation recorded an operating loss of $560 million in the third quarter of 2024, reflecting intensified challenges across its lumber and pulp segments.

Weyerhaeuser Company reported Q3 net earnings of $28 million, or 4 cents per diluted share, on net sales of $1.7 billion. This compares with net earnings of $239 million, or 33 cents per diluted share, on net sales of $2.0 billion for the same period last year and net earnings of $173 million for Q2 2024.

In the third quarter of 2024, net sales for the Södra Group amounted to SEK 6,944 million (6,545), up 6 percent compared with the year-earlier period. Operating profit totalled SEK 937 million (410), representing an operating margin of 13 percent (6). Return on capital employed was 10 percent (12) and the equity ratio was 61 percent.

Huhtamäki, a global producer of food and beverage packaging, reported net sales in line with expectations in the third quarter. Operating profit was worse than expected.

The strong third quarter results were mainly driven by increased sales volume and higher average selling prices of exported products, with a favorable contribution from exchange rates.

West Fraser Timber Co. Ltd. announced third-quarter results for 2024, reporting a loss of $83 million compared to a $105 million profit in the second quarter. The company's sales fell to $1.437 billion, marking a 16% decline from the prior quarter's $1.705 billion. Adjusted EBITDA stood at $62 million, down from $272 million in the second quarter​​.

Third quarter net sales were $2.2 billion in 2024, up from $1.9 billion in 2023.

Kimberly-Clark cut its annual organic net sales forecast after missing Wall Street estimates for third-quarter sales, as consumers swap its pricier personal care goods for cheaper alternatives.

Södra is taking action to strengthen conditions for family forestry and to develop its member offer. On 21 October, prices were raised for saw logs and small-diameter sawable ranges, and a new tool is being introduced to increase security for forest owners. Södra is also taking further steps to improve transparency in the wood market.

The company attributed the decline primarily to "more planned maintenance shuts" and a forestry fair value loss. This was in addition to softer seasonal demand and higher input costs, it said.

Essity disputes the demand.

The New York Stock Exchange will delist Enviva's stock by October 22, marking the final chapter in the company's dramatic fall from a market value of nearly $6 billion in 2022. The wood-pellet producer's financial troubles arose from a failed bet on pellet prices, pushing the firm into bankruptcy and wiping out shareholders.

The company said that during July, severe weather conditions led to modestly reduced production at two paperboard manufacturing facilities. In August, an electrical substation was damaged at a third facility, resulting in additional disruption, lost production, and restart costs.

The company insists that this increase is driven by market dynamics, cost inflation, and other economic drivers.

Duties on softwood lumber from Canada have climbed to 14.54% from 8.05%.

Net income decreased 3.5% to $87.1 million or $1.50 per diluted Class A share compared to net income of $90.3 million or $1.55 per diluted Class A share.