EBITDA1 of $37 million on Sales of $480 million
Net Debt to Invested Capital1 of 27%; Liquidity of $431 millionVANCOUVER, British Columbia, May 07, 2020 (GLOBE NEWSWIRE) — INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) recorded net earnings in Q1’20 of $6.3 million, or $0.09 per share, compared to net losses of $41.7 million, or $0.62 per share in Q4’19 and $15.3 million, or $0.23 per share in Q1’19. Adjusted net earnings were $0.7 million in Q1’20 compared to Adjusted net losses of $17.4 million in Q4’19 and $12.7 million in Q1’19.
Adjusted EBITDA was $36.6 million on sales of $479.6 million in Q1’20 versus $17.6 million on sales of $456.8 million in Q4’19.Net debt ended the quarter at $322.0 million, or 26.7% of invested capital, resulting in available liquidity of $430.9 million. Effects of COVID-19 and Interfor’s Response
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