Loading...
•
Sep 30, 2023
Clearwater Paper Q3 2023 Earnings Report
Clearwater Paper had an outstanding quarter driven by strong operational results and continued market strength in tissue
Key Takeaways
Clearwater Paper reported net sales of $520 million, a 3% decrease compared to the third quarter of last year. Net income was $37 million, or $2.17 per diluted share. The company reduced net debt by $69 million in the quarter and repurchased $5 million of outstanding shares.
Net sales of $520 million, down 3% from the third quarter of last year
Net income of $37 million, or $2.17 per diluted share
Adjusted EBITDA of $81 million, $3 million higher than third quarter of last year
Reduced net debt by $69 million from second quarter of this year
Forward Guidance
The company is optimistic that its strong performance in tissue will continue into next year, driven by stable demand and improved cost structure. They also expect a gradual recovery in paperboard volumes starting in 2024. The refinancing of their 2025 notes will improve financial flexibility.
Positive Outlook
- Strong performance in tissue is expected to continue into next year
- Stable demand in tissue
- Improved cost structure in tissue
- Gradual recovery in paperboard volumes starting in 2024
- Refinancing of 2025 notes will improve financial flexibility
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...