Clearwater Paper posts Q4 net income $18M; announces $700M Augusta acquisition

Clearwater Paper Corp

2023-FY EPS reported $6.30 revenue$2,082,800,000

Q4 net income $18M ($1.04 EPS) vs net loss $6M YoY; Adjusted EBITDA $63M vs $28M.
Full-year 2023 net income $108M ($6.30 EPS) vs $46M; Adjusted EBITDA $281M, up $54M.
Signed definitive agreement to buy Augusta paperboard plant from Graphic Packaging for $700M; expected close Q2 2024.
Company will explore strategic options for tissue business to focus on paperboard growth.
Net debt reduced $89M in 2023, over $450M since 2020; share repurchases $18M.

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 0.95

Clearwater Paper Corp reported fourth quarter and year ended December 31, 2023 results: revenue Net sales of $513 million, net income Net income of $18 million, EPS $1.04 per diluted share.

Period: fourth quarter and year ended December 31, 2023
Revenue: Net sales of $513 million
Net income: Net income of $18 million
EPS: $1.04 per diluted share
Result: reported results

Exact text from the filing

For the fourth quarter of 2023, Clearwater Paper reported net sales of $513 million, a 3% decrease compared to net sales of $527 million reported in the fourth quarter of 2022. Net income for the fourth quarter of 2023 was $18 million, or $1.04 per diluted share

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Source: SEC EDGAR

accession 0001504337-24-000008

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