Featured Company News Clearwater Paper Updates on Factors Going - Erie News Now | WICU & WSEE in Erie, PA

Featured Company News Clearwater Paper Updates on Factors Going to Impact Q3 2017 Operating Results

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LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Clearwater Paper Corp. (NYSE: CLW), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CLW. The Company announced on October 04, 2017, an update on certain factors that are expected to negatively impact operating results for Q3 2017 by approximately $8 million to $9 million based on preliminary results. The Company also announced the release date for its operating result for the upcoming quarter. For immediate access to our complimentary reports, including today’s coverage, register for free now at:


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Factors Impacting the Results

Clearwater Paper noted that several factors are expected to negatively impact the Company’s prior outlook for Q3 2017.

Clearwater Paper stated that the planned major maintenance outage at the Lewiston, Idaho, the mill is expected to cost an incremental $3million to $4 million as a result of higher than expected repair costs and lost production due to a three-day delay in the startup of the paper machines. The Company noted that the delay has no impact on the new continuous pulp digester, which commenced start-up as scheduled at the end of the third quarter.

Clearwater Paper also noted that inclement weather caused by hurricanes in the Southeast delayed shipments to customers and contributed to higher transportation expenses and reduced revenues with a net impact totaling approximately $2 million. The expected relief in rising pulp prices in the latter half of the quarter did not materialize contributing to approximately $2 million of incremental expenses. Also, as per the Company, lower than expected case shipments of consumer products and lower converted paperboard shipment volumes are expected to negatively impact results by approximately $1 million.

“Although we are disappointed with the expected negative impact to our third quarter results, we remain confident in our long-term plan to improve operating efficiencies and lower costs,” said Linda Massman, President and Chief Executive Officer.

With its Q2 2017 earnings release announced on August 02, 2017, Clearwater Paper has provided an outlook for Q3 3017. The Company forecasted consolidated net sales to be up 1% to 3% sequentially and consolidated adjusted operating margin to be in the range of 3% to 4.5%. The Company was expecting adjusted net earnings for the fully diluted share in the range of $0.34 to $0.50.

Third Quarter 2017 Earnings Release

Clearwater Paper expects to release its Q3 2017 on October 19, 2017, after the market close. Clearwater Paper management will host a live conference call to discuss the earnings release, the results of operations, and other matters after its earnings press release on October 19, 2017, at 2:00 pm Pacific Daylight Time.

Earlier on August 02, 2017, Clearwater Paper reported net sales of $429.7 million for Q2 2017, down 1.6% compared to net sales of $436.7 million for Q2 2016. The Company’s GAAP net earnings were $8.0 million, or $0.48 per diluted share, for the reported quarter compared to net earnings of $20.9 million, or $1.21 per diluted share, for the year-ago same period. The decrease in net earnings was due primarily to a planned bi-annual major maintenance outage at the Company’s Arkansas mill in Q2 2017 and higher input costs for energy, pulp, chemicals, and packaging supplies. Clearwater Paper’s adjusted net earnings totaled $7.9 million, or $0.48 per diluted share, for Q2 2017 compared to adjusted net earnings of $23.5 million, or $1.37 per diluted share, in Q2 2016.

About Clearwater Paper Corp.

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard, and pulp at manufacturing facilities across the nation. The Company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants, and discount stores. In addition, the Company produces bleached paperboard used by quality-conscious printers and packaging converters and offers services that include custom sheeting, slitting, and cutting.

Last Close Stock Review

Clearwater Paper’s share price finished yesterday’s trading session at $45.25, marginally falling 0.22%. A total volume of 120.67 thousand shares have exchanged hands, which was higher than the 3-month average volume of 88.57 thousand shares. The Company’s stock price advanced 1.12% in the last three months. Shares of the Company have a PE ratio of 29.21 and currently have a market cap of $747.98 million.

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