Clearwater Paper Q3 adjusted net income up to $37M; tissue strength boosts Consumer Products

Clearwater Paper Corp

2023-Q3 EPS reported $5.29 revenue$1,569,900,000

Net sales of $520M, down 3% YoY; net income of $37M ($2.17 diluted EPS) vs $21M a year ago.
Adjusted EBITDA of $81M (15% margin) vs $77M in Q3 2022; Consumer Products segment EBITDA doubled to $46M.
Pulp & Paperboard segment sales fell 13% to $261M on lower volumes and prices; operating income $43M vs $64M.
Plans to redeem 2025 notes in Q4 using new term loan, cash, and ABL; repurchased $5M shares; net debt reduced $69M.
Company projects continued tissue strength into 2024 with gradual paperboard recovery; refinancing improves financial flexibility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Clearwater Paper Corp reported the third quarter and nine months ended September 30, 2023 results: revenue Net sales of $520 million, net income Net income of $37 million, or $2.17 per diluted share, EPS $2.17 per diluted share.

Period: the third quarter and nine months ended September 30, 2023
Revenue: Net sales of $520 million
Net income: Net income of $37 million, or $2.17 per diluted share
EPS: $2.17 per diluted share
Result: reported results

Exact text from the filing

months ended September 30, 2023. THIRD QUARTER HIGHLIGHTS • Outstanding performance driven by strong operational results and continued market strength in tissue • Net sales of $520 million, down 3% from the third quarter of last year • Net income of $37 million, or $2.17 per diluted share • Adjusted net income of $37 million, $6 million higher than the third

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Source: SEC EDGAR

accession 0001504337-23-000039

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