Domtar warns of expected operating loss ahead of quarterly results
MONTREAL -- Domtar Corp. has warned of an expected operating loss for the fourth quarter and sales that are below analyst expectations.
The wood products company says in a business update that it expects its operating loss to be between US$15 million and US$19 million, due in part to US$19 million in closure and restructuring costs and US$74 million in depreciation and amortization.
The company, partially based in Montreal, says it expects revenue of US$1.2 billion.
Analysts had expected revenue of US$1.27 billion according to financial markets data firm Refinitiv.
The company's shares were down about five per cent in mid-morning trading on the Toronto Stock Exchange.
Domtar is slated to release full fourth-quarter results on Feb. 7.
This report by The Canadian Press was first published Jan. 24, 2020.