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Actionable news in OSB: NORBORD Inc,

Norbord Inc.

Norbord, Inc. reports financial results for the quarter ended June 30, 2017.We analyze the earnings along side the following peers of Norbord, Inc. - Universal Forest Products, Inc. (UFPI-US) that have also reported for this period.

  • Summary numbers: Revenues of USD 536 million, Net Earnings of USD 97 million.
  • Gross margins widened from 15.66% to 25.93% compared to the same period last year, operating (EBITDA) margins now 30.60% from 20.36%.
  • Year-on-year change in operating cash flow of 65.95% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Earnings growth from operating margin improvements as well as one-time items.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

Revenues (mil)536467482453447
Revenue Growth (%YOY)19.921.616.119.822.5
Earnings (mil)9749615544
Earnings Growth (%YOY)120.5113369.2711.1291.3
Net Margin (%)18.110.512.712.19.8
Return on Equity (%)
Return on Assets (%)

Access our Ratings and Scores for Norbord, Inc.

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OSB-US's change in revenue this period compared to the same period last year of 19.91% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that OSB-US is holding onto its market share. Also, for comparison purposes, revenues...