Market News of Note

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.

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.

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

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

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.

Smurfit Westrock plc announces that one of its indirect wholly owned subsidiaries, WRKCo Inc. ("WRKCo"), has applied to the Autorité des marchés financiers (the "AMF"), as WRKCo's principal securities regulator in Canada, for a decision that it has ceased to be a reporting issuer (the "Order Sought") in Québec, Manitoba and British Columbia (the "Canadian Jurisdictions").

The price adjustments include timber, small sawn assortments, softwood pulpwood, hardwood pulpwood, fuelwood and grot. The price adjustments are aimed at stimulating forestry activities such as regeneration felling, thinning and conservation management.

In the Q2 2024, the Mayr-Melnhof Group (MM Group) was able to improve results compared to the previous quarter and exceeded the previous year's figure.

The quarterly dividend of $1.25 per share will be paid to shareholders of record as of September 16, 2024 with a payment date of October 15, 2024.

Greif, Inc., a global leader in industrial packaging products and services, announced that its Board of Directors has declared quarterly cash dividends of $0.54 per share on its Class A Common Stock, and $0.81 per share on its Class B Common Stock.

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.

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

The quarterly earnings were $160 million or $2.23 per share, while the company reported loss of $20 million a year ago. On an adjusted basis, earnings were $2.09 per share.

For the six months, net income was USD 3.3 million compared to USD 27.3 million a year ago.

July marked the two-year anniversary of the merger of SWM and Neenah to create Mativ.

Hugues Simon, who took over as president and chief executive in June, forecast third-quarter results would be stronger sequentially, driven by improved containerboard results as price increases are implemented and production efficiency levels are normalized following planned maintenance in the recent quarter as well as an unplanned extended downtime at the Bear Island and Greenpac operations.

In the second quarter, price and mix were favorable and input costs largely remained stable compared to last quarter.

Glatfelter Corporation incurred a second-quarter 2024 earnings per share (EPS) loss of 35 cents from continuing operations, narrower than a loss of 82 cents per share in the prior-year quarter.

Mercer International Inc., a prominent player in the pulp and lumber industry, reported mixed results for the second quarter of 2024. The company's EBITDA saw a significant decrease to $30 million from $64 million in the previous quarter, primarily due to planned maintenance at two of its mills.

Interfor Corporation recorded a net loss in Q2 2024 of $75.8 million, or $1.47 per share, compared to a net loss of $72.9 million, or $1.42 per share in Q1 2024 and a net loss of $14.1 million, or $0.27 per share in Q2 2023.

Net loss was USD 0.077747 million compared to USD 1.25 million a year ago. Basic loss per share from continuing operations was USD 0.008 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.008 compared to USD 0.12 a year ago.

Continued strong demand in tissue, improved demand in paperboard.

Pulp and paper producer says underlying profitability remains steady despite the third quarter being seasonally the weakest.

Adjusted EBITDA totaled R$6.3 billion, a 60% increase on 2Q23, reflecting higher pulp prices, favorable FX rates, increased sales volume, and reduced production costs compared to the same period last year. Operating cash generation totaled R$4.5 billion, the strongest quarterly result since 1Q23, and net revenue came to R$11.5 billion, the strongest quarterly result since 4Q22.