MONTREAL — Tembec, which has been struggling with falling sales, is responding to investor pressure by issuing an optimistic earnings forecast as its fourth quarter draws to a close. The forest product manufacturer is expecting that EBITDA for the quarter ending September 26 will rise to between $31 and $34 million from $2 million in the previous quarter. Operating earnings will be in the range of $19 million to $22 million in the September 2015 quarter, as compared to an operating loss of $11 million in the June 2015 quarter.
The June 2015 quarterly results had been negatively impacted by significant planned major maintenance activities at the Temiscaming, Quebec, and Tartas, France, complexes. There will be no significant planned major maintenance in the September 2015 quarter. The decrease in the relative value of the Canadian dollar is also contributing to the more favourable operating results.
