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Mar 31, 2020
Clearwater Paper Q1 2020 Earnings Report
Reported strong first quarter results driven by increased demand for essential products and solid execution.
Key Takeaways
Clearwater Paper reported net sales of $478 million, an 11% increase compared to the first quarter of 2019. Net income was $10 million, or $0.62 per diluted share, compared to $4 million, or $0.23 per diluted share in the prior year. Adjusted EBITDA for the quarter was $55 million, compared to $40 million in the first quarter of 2019.
Implemented health and safety measures to maintain operations during the COVID-19 outbreak.
Delivered strong performance due to solid execution and increased demand.
Net income was $10 million and Adjusted EBITDA was $55 million.
Consumer Products segment saw sixth consecutive quarter of sequential sales growth.
Forward Guidance
For the upcoming quarter, the primary focus will remain on the health and safety of employees while continuing to operate facilities and service customers. Demand for tissue products is expected to remain elevated as consumers shift to at-home consumption and retailers continue to focus on keeping their shelves stocked. Economic conditions are being monitored to assess the impact on the business for the balance of the year.
Positive Outlook
- Focus will remain on the health and safety of employees.
- Continue to operate facilities and service customers.
- Demand for tissue products is expected to remain elevated.
- Consumers shifting to at-home consumption.
- Retailers continue to focus on keeping shelves stocked.
Challenges Ahead
- Closely monitoring economic conditions.
- Assessing the impact on our business for the balance of the year.
- Potential disruptions in operations at the company's facilities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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