Clearwater Paper 1Q 2019 Results: Sales Down 1.8 percent to $428.7 Million

Clearwater Paper Corporation has reported financial results for the first quarter of 2019.

The company reported net sales of $428.8 million for the first quarter of 2019, which were $8.2 million or 1.9 percent lower than net sales of $437.0 million for the first quarter of 2018. The decrease was due to lower paperboard and tissue shipments including the impact from the sale of the company's mill in Ladysmith, Wisconsin in August 2018, partially offset by higher tissue and paperboard pricing.

Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the first quarter of 2019 were $3.8 million, or $0.23 per diluted share, compared with net earnings for the first quarter of 2018 of $2.6 million, or $0.16 per diluted share.

Net sales in the Consumer Products segment were $223.3 million for the first quarter of 2019, down 6.5 percent compared with first quarter 2018 net sales of $238.8 million. This decrease was due to lower volumes sold, including the impact from the divestiture of the Ladysmith, Wisconsin mill in August 2018, partially offset by higher average prices for both retail and non-retail tissue products and a favorable mix shift to ultra-quality products.

Tissue Sales Volumes and Prices:

Total tissue volumes sold were 83,622 tons in the first quarter of 2019, a decrease of 8,585 tons or 9.3 percent compared with 92,207 tons in the first quarter of 2018. Converted product cases shipped were 12.3 million in the first quarter of 2019, 7.1 percent lower than the 13.3 million cases shipped in the first quarter of 2018.
Average tissue net selling prices increased 3.9 percent to $2,667 per ton in the first quarter of 2019, compared with $2,568 per ton in the first quarter of 2018.

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. Clearwater Paper's employees build shareholder value by developing strong customer relationships through quality and service

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