Clearwater Paper Q3 revenue slightly misses estimates on lower market pricing
CLW•Clearwater Paper reported Q3 revenue of $385 million, slightly below the $387.39 million analyst estimate, as lower market pricing weighed on sales. Adjusted EBITDA rose year over year, and the company completed a debt refinancing that extended maturities.
1. Quarterly results
Clearwater Paper’s Q3 revenue fell year over year to $385 million, slightly missing the $387.39 million analyst estimate. The company reported a net loss of $2 million. Adjusted EBITDA rose year over year, driven by maintenance timing and partly offset by an Augusta mill disruption.
2. Pricing and outlook
CEO Arsen Kitch said the Augusta disruption negatively affected volumes and costs, while average selling prices improved from Q2 on price increases and a better sales mix. Clearwater Paper expects continued recovery in SBS industry conditions despite cost headwinds, with improved pricing later this quarter and into next year. It also completed a full debt refinancing, meaningfully extending maturities.
