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Mar 31, 2024
Clearwater Paper Q1 2024 Earnings Report
Clearwater Paper reported solid results driven by lower input costs and continued strength in tissue, despite a significant weather event impacting the quarter.
Key Takeaways
Clearwater Paper reported net sales of $496 million, a 6% decrease compared to the first quarter of last year. Net income was $17 million, or $1.02 per diluted share. The company's performance was driven by lower input costs and continued strength in tissue, despite a severe weather event disrupting production at the Lewiston site.
Net sales decreased by 6% year-over-year to $496 million.
Net income decreased to $17 million, or $1.02 per diluted share.
Adjusted EBITDA decreased to $62 million.
The company reduced net debt by $33 million and repurchased $1 million of outstanding shares.
Forward Guidance
Clearwater Paper expects continued strength in tissue performance and a recovery in paperboard demand. The company is also looking forward to completing the Augusta acquisition.
Positive Outlook
- Continued strength in tissue performance is expected this year.
- Recovery in paperboard demand as customer de-stocking is largely behind us.
- Completion of the Augusta acquisition is anticipated.
- Welcoming the Augusta team to Clearwater Paper.
- Strong operational execution.
Challenges Ahead
- Competitive pricing pressures for our products.
- Changes in the U.S. and international economies.
- Manufacturing or operating disruptions.
- Changes in the cost and availability of wood fiber and wood pulp.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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