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Jun 30, 2023
Clearwater Paper Q2 2023 Earnings Report
Clearwater Paper had a stronger than expected second quarter, with solid operational performance and lower than expected costs for key inputs.
Key Takeaways
Clearwater Paper reported net sales of $525 million and a net income of $30 million, or $1.75 per diluted share. Adjusted EBITDA was $71 million. The company reduced net debt by $25 million and repurchased $8 million of outstanding shares.
Net sales of $525 million, slightly below the second quarter of last year
Net income of $30 million, or $1.75 per diluted share
Adjusted EBITDA of $71 million, $8 million higher than second quarter of last year
Reduced net debt by $25 million from first quarter of this year
Forward Guidance
We expect continued strength in our tissue business in the coming quarters, with projected strong demand and lower input costs driving improved margins. We also anticipate that our paperboard volumes will improve in the second half of this year as compared to the first half. We will continue our focus on cash flow generation through strong operating performance and managing inventories by matching supply with demand.
Positive Outlook
- Continued strength in tissue business expected
- Strong demand projected for tissue
- Lower input costs driving improved margins
- Paperboard volumes anticipated to improve in the second half of this year
- Focus on cash flow generation through strong operating performance
Historical Earnings Impact
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Avg. Return Before/After Earnings
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