Company News

BRIEF-Tembec reports Q2 earnings per share C$0.24

May 2 (Reuters) - Tembec Inc

* Tembec reports financial results for its second fiscal quarter ended March 25, 2017

* Q2 earnings per share C$0.24

* Q2 earnings per share view c$0.15 -- Thomson Reuters I/B/E/S

* Q2 sales C$387 million versus C$380 million

* Tembec Inc - June 2017 financial results will be impacted by planned major maintenance outage at Temiscaming mill in month of May

* Tembec-Recently announced countervailing duties preliminary determination by U.S. Department of commerce will impact co’s financial results & liquidity in future periods

* Tembec - Co, other Canadian lumber producers “strongly disagree” with USDOC decision to impose preliminary duty rate on co’s lumber shipments into U.S.

* Says a preliminary determination on antidumping duties (add) is expected in june quarter

* Tembec says it anticipates that a portion of CVD and add will be passed on to customers in form of higher lumber prices

* Tembec says “the implementation of CVD and add deposits will likely lead to more volatility as canadian producers adapt to changing circumstances”

* Tembec Inc - newsprint market continues to experience “declining demand” and will require further capacity reduction to maintain a balanced market

* Tembec-While CVD and add deposits will impact future cash flow, co is in a good position to continue to reduce its debt & proceed with cost reducing capital exp Source text for Eikon: Further company coverage: