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Dec 31, 2023
Clearwater Paper Q4 2023 Earnings Report
Reported strong Q4 2023 results driven by solid operational performance and tissue strength, despite a slight decrease in net sales compared to the previous year.
Key Takeaways
Clearwater Paper reported a net income of $18 million for Q4 2023, a significant increase compared to the net loss in Q4 2022. Adjusted EBITDA was $63 million. Net sales were $513 million, down 3% from Q4 2022. The company reduced net debt by $32 million and repurchased $3 million of outstanding shares.
Clearwater Paper's Q4 2023 performance was driven by solid operational results and continued strength in the tissue segment.
A natural gas disruption impacted the Lewiston mill operations in November.
The company reported a net income of $18 million, or $1.04 per diluted share, and an Adjusted EBITDA of $63 million.
Net sales for Q4 2023 were $513 million, a 3% decrease compared to Q4 2022.
Forward Guidance
Clearwater Paper anticipates continued strength in its tissue business in 2024 and expects paperboard demand to recover in the second half of the year. The company also looks forward to completing the Augusta acquisition in the second quarter of 2024.
Positive Outlook
- Continued strength in tissue business anticipated in 2024
- Paperboard demand expected to recover in the second half of the year
- Augusta acquisition expected to be completed in the second quarter of 2024
- Offering outstanding service, quality, and product innovation
- Well positioned to grow with customers
Historical Earnings Impact
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Avg. Return Before/After Earnings
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