SSCC expects first quarter losses.(Higher Costs To Blame)(Smurfit-Stone Container Corp.)(Brief Article)
Official Board Markets, March, 2004
Smurfit-Stone Container Corp., Chicago, reports it expects a first quarter 2004 loss of approximately $.22-$.25 per diluted share, since lower selling prices and higher energy, fiber and employee benefit costs are adversely affecting earnings in the quarter. Prices for corrugated containers will likely decline approximately $10 million in the first quarter of this year compared with the fourth quarter of 2003. The company expects recovered fiber and energy costs to exceed those of the fourth quarter of 2003 by an estimated $20 million. Employee benefit costs are also estimated to be $20 million higher in the first quarter of this year compared with the fourth quarter of 2003.
"We anticipated that the unexpected containerboard price decreases we saw in the...
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