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Chile's Copec reverses loss in Q3, boosted by forestry arm
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Chile's Copec reverses loss in Q3, boosted by forestry arm
Nov 7, 2024 1:15 PM

Nov 7 (Reuters) - Chilean industrial conglomerate

Empresas Copec on Thursday posted a third-quarter net

profit of $404.3 million, beating expectations on the back of

better numbers from its forestry unit.

The firm's net profit was above the $346.59 million

predicted by analysts polled by LSEG and compared to a net loss

of $30.96 million in the same period last year.

Revenues stood at $7.12 billion for the quarter, slightly

above the $7.09 billion reported last year.

Copec's forestry arm Arauco benefitted from both

"higher pulp volumes and prices," the company said in a

statement.

Core earnings, or earnings before interest, taxes,

depreciation, and amortization (EBITDA) climbed 27% from the

year-ago quarter to $760 million.

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