Clearwater Paper reports Q2 net loss of $26M; agrees to sell tissue business to Sofidel for $1.06B

Clearwater Paper Corp

Net loss of $26M ($1.55 diluted loss per share) vs net income of $30M ($1.75 EPS) in Q2 2023.
Revenue of $586M (+12% YoY) driven by incremental sales from the Augusta acquisition completed in May.
Signed definitive agreement to sell consumer products (tissue) division to Sofidel America Corp. for $1.06B; expected close in Q4 2024.
Paperboard segment Adjusted EBITDA fell to $11M from $51M due to planned maintenance outage at Lewiston facility.
Tissue segment Adjusted EBITDA $41M, flat vs $40M prior year; higher volumes offset by lower prices.

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