Resolute Forest Products (RFP) Quarterly Income Statement

Income Statement Summary

Resolute Forest Products (RFP) quarterly income statement covering the six quarters from March 2021 to September 2022, as reported to the SEC.

Resolute Forest Products reported sales of $974M in the quarter ended September 30, 2022, up 19.2% from $817M a year earlier.
That is 7.9% lower than the June 2022 quarter.
Operating income was $124M, up 21.6% from $102M. Operating margin was 12.7%.
Net income was $87M, up 8.8% from $80M. Net margin was 8.9%.
Diluted (USD per share) was $1.11, up 12.1% from $0.99.
Selling, general and administrative expenses took 5.9% of sales.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Sep'22	Jun'22	Mar'22	Sep'21	Jun'21	Mar'21
Sales
974,000	1,058,000	945,000	817,000	1,140,000	873,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales						974,000	1,058,000	945,000	817,000	1,140,000	873,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs and expenses:
Depreciation and amortization
34,000	35,000	32,000	42,000	40,000	41,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and amortization						34,000	35,000	32,000	42,000	40,000	41,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses
57,000	40,000	36,000	32,000	36,000	46,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses						57,000	40,000	36,000	32,000	36,000	46,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Closure costs, impairment and other related charges (Note 3)
-1,000	5,000	4,000	-	-1,000	3,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Closure costs, impairment and other related charges (Note 3)						-1,000	5,000	4,000	-	-1,000	3,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss on disposition of assets
-	-3,000	1,000	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss on disposition of assets						-	-3,000	1,000	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income
124,000	217,000	235,000	102,000	406,000	177,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income						124,000	217,000	235,000	102,000	406,000	177,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
5,000	6,000	5,000	5,000	5,000	6,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						5,000	6,000	5,000	5,000	5,000	6,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net (Note 4)
37,000	13,000	45,000	20,000	-49,000	-45,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net (Note 4)						37,000	13,000	45,000	20,000	-49,000	-45,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-operating pension and OPEB credits (costs)
3,000	3,000	7,000	-3,000	-3,000	-2,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-operating pension and OPEB credits (costs)						3,000	3,000	7,000	-3,000	-3,000	-2,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(expense) income
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(expense) income						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes
153,000	221,000	268,000	120,000	355,000	128,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes						153,000	221,000	268,000	120,000	355,000	128,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision (Note 12)
66,000	-35,000	58,000	40,000	87,000	40,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision (Note 12)						66,000	-35,000	58,000	40,000	87,000	40,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income including noncontrolling interest
87,000	256,000	210,000	80,000	268,000	88,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income including noncontrolling interest						87,000	256,000	210,000	80,000	268,000	88,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to noncontrolling interest
-	-	-	-	-	1,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to noncontrolling interest						-	-	-	-	-	1,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to Resolute Forest Products Inc.
87,000	256,000	210,000	80,000	268,000	87,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to Resolute Forest Products Inc.						87,000	256,000	210,000	80,000	268,000	87,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income per share attributable to Resolute Forest Products Inc. common shareholders (Note 6):
Basic (USD per share)
1.12	3.32	2.71	1.00	3.37	1.07	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (USD per share)						1.12	3.32	2.71	1.00	3.37	1.07	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (USD per share)
1.11	3.29	2.68	0.99	3.34	1.06	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (USD per share)						1.11	3.29	2.68	0.99	3.34	1.06	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average number of Resolute Forest Products Inc. common shares outstanding:
Basic (shares)
77,500	77,500	77,400	79,400	79,500	81,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (shares)						77,500	77,500	77,400	79,400	79,500	81,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (shares)
78,400	78,200	78,200	80,100	80,300	81,900	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (shares)						78,400	78,200	78,200	80,100	80,300	81,900	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Product
Cost of sales, excluding depreciation, amortization and distribution costs
653,000	647,000	547,000	554,000	566,000	522,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales, excluding depreciation, amortization and distribution costs						653,000	647,000	547,000	554,000	566,000	522,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distribution costs
Cost of sales, excluding depreciation, amortization and distribution costs
107,000	111,000	92,000	87,000	93,000	84,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales, excluding depreciation, amortization and distribution costs						107,000	111,000	92,000	87,000	93,000	84,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx