Clearwater Paper Q2 net loss widens as facility outage weighed on results
CLW•Outlook
- Company sees early signs of improvement in SBS industry conditions, including volume growth and lower imports
- Clearwater Paper says SBS pricing remains below levels necessary to generate acceptable returns
- Company will focus on cost reduction, operational execution, and implementing previously announced price increases
Overview
- US paperboard packaging supplier's Q2 sales slightly beat analyst expectations
- Company posted Q2 net loss and negative adjusted EBITDA due to lower pricing and maintenance outage
- Company restructured Cypress Bend facility, cutting roles and targeting $8-12 mln annual savings
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Slight Beat* | $375 mln | $374.80 mln (3 Analysts) |
| Q2 Net Loss | $21.5 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Result drivers
- Lower pricing - Co said lower market pricing was the main driver of reduced sales and profitability in Q2
