SAO PAULO, Oct 26 (Reuters) – Brazilian pulpmaker Suzano
reported on Thursday a net loss of 729 million reais
($146.2 million) in the third quarter, but beating a LSEG
analyst estimate of red ink reaching 1.5 billion reais during
the three-month period.
The company’s quarterly loss contrast with the net
profit of 5.45 billion reais Suzano achieved in the year-ago
period.
Sales of pulp, Suzano’s main business, fell by 11%
year-on-year, while average prices for the product dropped by a
third to settle at $547 per metric ton.
Suzano said that despite the reduction in realized pulp
prices, the July-to-September showed “improvement in market
sentiment” largely due to more demand from China.
($1 = 4.9863 reais)
(Reporting by Peter Frontini; Editing by David Alire Garcia)
