Norbord Inc. reported unaudited consolidated earnings results for the first quarter ended April 1, 2017. Sales were $467 million against $384 million a year ago. Operating income was $73 million against $39 million a year ago. Earnings before income tax was $62 million against $26 million a year ago. Earnings were $49 million or $0.57 basic and diluted per share against $23 million or $0.27 basic and diluted per share a year ago. Net cash generated from operating activities was $39 million against $3 million a year ago. Investment in property, plant and equipment was $56 million against $13 million a year ago. Investment in intangible assets was $2 million against $1 million a year ago. Adjusted earnings of $50 million or $0.58 per share (basic and diluted) in the first quarter of 2017 versus $20 million or $0.23 per share (basic and diluted) in the first quarter of 2016 and $56 million or $0.65 per share (basic and diluted) in the fourth quarter of 2016. Adjusted pre-tax earnings was $68 million against $27 million a year ago. Adjusted EBITDA was $103 million, $42 million higher than first quarter of 2016.

The company expects CapEx to be $220 million for fiscal 2018.