"This quarter's results were most affected by lower pricing in all of our business segments, with the notable exception of tissue. Benefiting from higher pricing and improved productivity, our tissue segment generated marginally positive EBITDA this quarter," said Yves Laflamme, president and chief executive officer. "Despite pricing challenges, our pulp and paper businesses continued to generate strong margins and attractive cash flows, mitigating cyclical headwinds in lumber, as our tissue business gains momentum. During the quarter, we further strengthened our balance sheet by extending our senior secured asset-based revolving credit facility for another five years. We also took advantage of recent stock price underperformance, returning $12 million of capital to our shareholders through the buyback of 1.8 million shares to date in 2019."
Non-GAAP financial measures, such as adjustments for special items and adjusted EBITDA, are explained and reconciled below:
https://resolutefp.mediaroom.com/2019-08-01-Resolute-Reports-Preliminary... [1]
