- Clearwater Paper (CLW -38.1%) reported Q1 sales of $437M flat Y/Y. Segment sales: consumer products -1.5% Y/Y to $238.8M and pulp & paperboard +1.5% Y/Y to $198.1M.
- Q1 operating margin declined by 205 bps to 2.64%, segment operating margins: consumer product declined by 188 bps to 0.68% and pulp & paperboard declined by 74 bps to 13.2%.
- Adjusted EBITDA margin declined by 216 bps to 9.1%.
- Adjusted net earnings were $.031 (-106% Y/Y) due to reorganization related expenses and industry-wide economic conditions.
- “The first quarter showed solid demand for our consumer tissue and paperboard products. This demand was offset by continued competitive pressures especially in conventional grades of retail tissue and higher input costs for both businesses,” said Linda K. Massman, president and CEO.
- Previously: Clearwater Paper misses by $0.36, beats on revenue (April 19)