Sappi Limited reported earnings results for the second quarter and six months ended March 31, 2024. For the second quarter, the company reported sales was USD 1,352 million compared to USD 1,442 million a year ago. Net income was USD 29 million compared to USD 69 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.12 a year ago.
For the six months, sales was USD 2,624 million compared to USD 3,102 million a year ago. Net loss was USD 97 million compared to net income of USD 259 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 0.46 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to diluted earnings per share from continuing operations of USD 0.43 a year ago.