2023-10-26 21:37:05
Brazilian pulp maker Suzano on Thursday reported a third-quarter net loss of 729 million reais ($146.2 million), beating an LSEG analyst’s estimate of a loss of 1.5 billion reais during the three-month period.
The company’s quarterly loss contrasts with Suzano’s net profit of 5.45 billion reais in the previous year.
Sales of pulp, Suzano’s main business, fell 11% year-on-year, while average prices for the product fell by a third to $547 per metric ton.
Suzano said that despite the reduction in realized prices for pulp, the July-September period showed an “improvement in market sentiment”, mainly due to the increase in request from China. ($1 = 4.9863 reais) (Reporting by Peter Frontini; Editing by David Alire Garcia)
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