Sherritt Posts $39.7 Million in Q3 Revenue, $0.07 Non-GAAP Loss Per Share

Sherritt International Corporation posted $39.7 million in third-quarter revenue and a non-GAAP loss of $0.07 per share, while revenue remained unchanged from a year earlier.

The results follow Sherritt’s Nov. 4 announcement of temporary layoffs affecting 280 Canadian employees for at least 90 days. The layoffs affect 47% of its Canadian workforce and are intended to help the company conserve cash as it works to restart its idle refinery in Fort Saskatchewan, Alberta.

Non-GAAP earnings per share is a per-share measure calculated using a company’s non-GAAP methodology.