Adam St. John
Tim. Good you, everyone. Thank morning,
continues certainly of to These COVID-XX unprecedented as with started Let's Slide are X presentation. get impact our industry. times the
coated so mills, proactive a said, quarter the model our to others establish and numbers business and for $XX million return our freesheet $XX and significantly. to financial recent impacted groundwood closing $XXX canceled, are and rolls our XX% and are strategy schools home, down the actions Quinnesec. operating our demand Verso. for Escanaba challenges XX%, pulp, for for and our loss down rates reported focus performance. to of free Year-to-date returned shareholders $X events and a at our year-over-year million, staying entertainment ton coated second operating We took capital of $XX The tough and That themselves. products sheet This which strategy operating both profitable coated the we along of has but environment quarter. demand for in graphic ton most reported consolidated decisive of as around result of nation's and the sheets. to respectively, We a accelerate sharpened large-scale two the adjusted with only prices expected, a the stronger grounded lows as we right an We coated not industry. quarter, for over during the a sporting to economic the respond success specialty, with a decreased and speak COVID in freesheet With longer-term also EBITDA coated with with million with revenues
proceeds to as our to $X during quarter June in issuing In back we'll in addition third a second share cash of sale as in cash, debt thanks today, to Stevens the amount per quarterly quarter announced which be cash commencing $XXX a from We're this, sheet, a dividend part with $X of a to dividend, and our to special regular the our the and $XXX do liquidity of solid of position XX. shareholders. returning Androscoggin in significant million million we balance Point commitment mills
long-term us competitive challenging we environment, to short-term but key a build as is sustained sheet balance also look we as the strong advantage Our for navigate value.
Moving on to Slide X.
with Senior team senior X of and impact management Vice a strengthened positions, have have of already Marketing, HR experienced Energy, President VP and in new a and new executive the key their VP are within seen of Sales organization. appointments and we We Senior and Manufacturing a our All executives, excellent, Communications.
team with maintain to an Our including excellent CDC related continues of COVID-XX through while a operations managing local X.XX, TIR complying safety with year-to-date performance all safety and measures, distancing, wearing social the guidelines. and of masks
SG&A of cost continued as process, is implement ongoing sales. the an a maintained a we successfully to throughout and we have strategically This percentage business. Finally, savings low
to Slide X. on Moving
quarter, we and employees decision these cease Wisconsin environment and the off to particularly of an our actions and graphic decision lay the It's the incurrent take difficult. announced Duluth During operations easy made the mill. idling never to
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close could we permanently. Finally,
our right flexibility position maximizes the in value. drive now, macro believe uncertainty we shareholder environment this Given built-in to the
X. Slide Now to on
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over and our this we specialty have refined chart. expect time, these to pulp pie product of And graphics, core a product We strategy portion see become categories, around larger pulp. in specialty
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Our consumer around is growth packaging. for focused strategy labels
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employees first of priority in I'm keep proud near done do has to to term Our feel workplace. so, employees our our the the comfortable team work and is and continues the safe.
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term, as mills specialty strategy if in each Over returns, the our to sales. idle demand also When at stay capital-efficient the markets to for have the medium mills our pulp of needed. capacity and growing our focused current X percentage expect against have on and restart a we executing we of option
We are can't in factors we many times dealing uncertain with control.
So will I'm not demand return predict going when and to levels. to try what at
stabilization think the we we and upward are that point seen into we see we'll as XXXX. trends look and However, optimistic low have
consolidation far -- control, now to factors to our with and multiple efficiently grow. streamlining the As under our grow levers we as business, have proactive of
business our capital-efficient focus growth our long-term Our of is to growth on vision and strategy. drive areas
the create to to turn to evaluate strength our we also I'll that With shareholders. have aligned now that, and Allen the growth We financial for with call the strategy are the performance. believe nonorganic financial opportunities value review over
