Cascades Q1 2026 results show debt challenges amid $1.1B sales and asset sale progress
Cascades Inc. has released its financial results for the first quarter of 2026. The company reported sales of $1,125 million, alongside operating income of $81 million. Despite a challenging debt position, management remains focused on asset sales to strengthen its balance sheet. The Canadian packaging and tissue producer recorded net earnings per common share of $0.38 in Q1 2026. However, adjusted net earnings per share stood at $0.07, reflecting one-time adjustments. Adjusted EBITDA for the quarter reached $118 million, while net debt climbed to $1,901 million by March 31, 2026.
The company’s net debt to EBITDA ratio was 3.3x, indicating ongoing leverage pressures. On a positive note, Cascades generated $91 million in asset sale proceeds during the quarter. This brings it closer to its target of $230 million in proceeds by the end of Q3 2026. Looking ahead, Cascades expects its annual adjusted EBITDA to reach approximately $600 million in the second half of 2026. The forecast suggests improved profitability as the year progresses.
Cascades continues to balance debt reduction with operational performance. With $91 million in asset sales already secured, the company is on track to meet its $230 million target by Q3. If achieved, this could help stabilise its financial position in the latter half of 2026.
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