Clearwater Paper, a premier supplier of private label tissue to major retailers and wholesale distributors, reported 17.9% decrease of Adjusted EBITDA amid essentially flat net sales in 1Q2017 y-o-y. According to the announcement, the company’s net sales accounted for USD 437.5 million, generating Adjusted EBITDA of USD 49.3 million in the period (11.3% margin).
Linda K. Massman, president and CEO, commented:
“We achieved solid results in the first quarter of 2017 due to strong demand for both consumer products and paperboard, positive contributions from the Manchester Industries acquisition, and our team’s continued smart work and focus. This is a significant year for Clearwater Paper as we look forward to completing the final year of our current strategic plan, which includes warehouse automation, the continuous pulp digester in Lewiston, Idaho, and the operational efficiencies that are vital to improving our cost structure. The exciting work on the Shelby, North Carolina plant and warehousing expansion is also underway.”
In 4Q2016 Clearwater Paper reported net sales of USD 425.6 million for the fourth quarter of 2016, down 1.4% compared to net sales of USD 431.6 million for the fourth quarter of 2015 due primarily to lower paperboard prices and shipment volumes.
Earlier Clearwater Paper announced plans to build a new tissue machine and related converting equipment for producing premium and ultra-premium grades of private label tissue products at a site adjacent to the company’s existing facility in Shelby, North Carolina, the US.
About Clearwater Paper:
The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores. Also it produces bleached paperboard used by quality-conscious printers and packaging converters. Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation.