Cascades Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended of December 31, 2017. For the quarter, the company reported sales of CAD 1,082 million compared to CAD 979 million a year ago. Operating income was CAD 45 million compared to CAD 33 million a year ago. Earnings before income taxes was CAD 6 million compared CAD 5 million a year ago. Net earnings attributable to Shareholders for the period was CAD 57 million compared to CAD 4 million a year ago. Diluted net earnings per common share was CAD 0.58 compared to CAD 0.04 a year ago. Cash flow from Operating activities was CAD 95 million compared to CAD 178 million a year ago. Payments for property, plant and equipment was CAD 57 million compared to CAD 57 million a year ago. Adjusted operating income was CAD 46 million compared to CAD 32 million to in the fourth quarter of 2016. Adjusted net earnings amounted to CAD 13 million or CAD 0.14 per share in the fourth quarter of 2017 compared to CAD 15 million or CAD 0.16 per share for the comparable period in 2016.

For the full year, the company reported sales of CAD 4,321 million compared to CAD 4,001 million a year ago. Operating income was CAD 175 million compared to CAD 221 million a year ago. Earnings before income taxes was CAD 441 million compared CAD 182 million a year ago. Net income attributable to Shareholders for the period was CAD 507 million compared to CAD 135 million a year ago. Diluted net income per common share was CAD 5.19 compared to CAD 1.39 a year ago. Cash flow from Operating activities was CAD 173 million compared to CAD 372 million a year ago. Payments for property, plant and equipment was CAD 193 million compared to CAD 182 million a year ago. Net debt of CAD 1,522 million as at December 31, 2017 compared to CAD 1,532 million as at December 31, 2016. Adjusted net earnings amounted to CAD 68 million or CAD 0.72 per share in the full year of 2017 compared to CAD 114 million or CAD 1.21 per share for the comparable period in 2016.

The recent corporate tax reform in the US, which will reduce its US corporate tax rate to approximately 25% for 2018, from 38% previously.