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Sep 30, 2020
Clearwater Paper Q3 2020 Earnings Report
Achieved strong results due to elevated demand for tissue products, steady demand for paperboard, and solid operational execution.
Key Takeaways
Clearwater Paper reported net sales of $457 million, a 3% increase compared to the third quarter of 2019. Net income was $21 million, or $1.28 per diluted share, compared to a net loss of $11 million, or $0.66 per diluted share, for the third quarter of 2019. Adjusted EBITDA for the quarter was $77 million, compared to $32 million in the third quarter of 2019.
Delivered strong performance due to elevated demand for tissue products, steady demand for paperboard, and solid operational execution
Net income of $21 million, or $1.28 per diluted share and Adjusted EBITDA of $77 million
Net debt reduction of over $40 million
Refinanced 2023 notes with new 2028 notes
Forward Guidance
For the fourth 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 soften relative to the third quarter of 2020 as retail in-stock conditions and inventories have improved.
Challenges Ahead
- Demand for tissue products is expected to soften relative to the third quarter of 2020
- Retail in-stock conditions and inventories have improved
- Closely monitoring economic conditions
- Assessing the impact on our business for the balance of the year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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