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Sep 30, 2024
Clearwater Paper Q3 2024 Earnings Report
Reported strong results despite hurricane impact and completed tissue business sale.
Key Takeaways
Clearwater Paper reported net sales from total operations of $644 million, up 24% from the third quarter of last year. Net income from total operations was $6 million, or $0.35 per diluted share, compared to $37 million, or $2.17 per diluted share in the third quarter of last year. Adjusted EBITDA from total operations was $64 million compared to $81 million in the third quarter of last year.
Net sales from continuing operations were $393 million, up 41% from the third quarter of last year.
Net sales from total operations were $644 million, up 24% from the third quarter of last year.
Net loss from continuing operations was $11 million, or $0.64 per diluted share.
The board approved a new $100 million share repurchase authorization.
Forward Guidance
The company is taking actions to reduce costs to ensure strong cash flows and plans to use proceeds from the sale of the tissue business to de-lever the balance sheet and take advantage of opportunities to grow and diversify the paperboard product portfolio.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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