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Jun 30, 2021
Clearwater Paper Q2 2021 Earnings Report
Clearwater Paper reported a net loss of $52 million and adjusted EBITDA of $15 million.
Key Takeaways
Clearwater Paper reported a net loss of $52 million, or $3.10 per diluted share, compared to net income of $23 million, or $1.36 per diluted share, for the second quarter of 2020. Adjusted EBITDA for the quarter was $15 million, compared to $79 million in the second quarter of 2020. The company successfully completed planned major maintenance at the Lewiston, Idaho facility and announced the closure of the Neenah, Wisconsin tissue facility.
Net loss of $52 million, or $3.10 per diluted share
Adjusted EBITDA of $15 million
Successfully completed planned major maintenance at the Lewiston, Idaho facility ($22 million Adjusted EBITDA impact)
Announced closure of Neenah, Wisconsin tissue facility
Forward Guidance
Clearwater Paper expects strong cash flows and further net debt reduction in the latter half of 2021. The paperboard business continues to perform well, and tissue demand is recovering.
Positive Outlook
- Well positioned to realize strong cash flows in the latter half of 2021
- Further reduce net debt in the latter half of 2021
- Paperboard business continues to perform well with favorable market dynamics
- Tissue demand is continuing to recover after a retailer and consumer drawdown of inventory
- Focus on operational execution
Challenges Ahead
- Working to offset inflation across our business
- Closing our high cost Neenah tissue facility
- Consumers de-stocked pantries
- Retailers adjusted inventories
Historical Earnings Impact
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Avg. Return Before/After Earnings
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