Norbord Posts Surprisingly Strong EBITDA Margins Despite Plunging Panel Prices
Wood panel prices have fallen precipitously in recent months as supply bottlenecks eased and demand began to soften. Versus the prior quarter, the Random Lengths OSB Composite index fell 20% to average $379 per thousand square feet. A similar story played out in lumber prices over the same period. This led Norbord's sales to decline from an all-time-high of $707 million last quarter, to just $640 million in the third quarter. Consolidated adjusted EBITDA margins also contracted to 33%. On balanc...Norbord is a producer of wood-based panels with 17 plant locations in the U.S., Europe and Canada.
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