Clearwater Paper, a premier supplier of private label tissue to major retailers and wholesale distributors, reported 32.1% decrease of Adjusted EBITDA amid 1.6% net sales decrease in 2Q2017 y-o-y. According to the announcement, the company’s net sales accounted for USD 429.7 million, generating Adjusted EBITDA of USD 45 million in the period (10.5% margin).
Linda K. Massman, president and CEO, commented:
“We achieved solid second quarter results that were in line with our quarterly outlook. The positive impacts to the quarter included higher prices and a stronger sales mix for paperboard, which were offset by higher external pulp pricing and lower consumer product shipment volumes, as parent rolls were used to build needed inventory.
I am also pleased to share that our previously disclosed strategic projects remain on time and within budget, and we continue to believe this will position us to more efficiently partner with and meet the needs of our customers in the future.”
In 1Q2017 Clearwater Paper decreased EBITDA margin to 11.3%
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.