Welcome to our dedicated page for Clearwater Paper Corporation news (Ticker: CLW), a resource for investors and traders seeking the latest updates and insights on Clearwater Paper Corporation stock.
Clearwater Paper Corporation (NYSE: CLW) is a leading manufacturer specializing in high-quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard, and pulp. With a network of manufacturing facilities across the United States, Clearwater Paper is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants, and discount stores.
The company operates under two primary segments: the Consumer Products segment and the Pulp and Paperboard segment. The Consumer Products segment is known for its extensive range of at-home tissue products and away-from-home tissue products. The Pulp and Paperboard segment focuses on producing bleached paperboard for the high-end packaging industry, offering custom services such as sheeting, slitting, and cutting.
Clearwater Paper's products are essential for various applications, from household needs to high-quality packaging solutions. The company generates the majority of its revenue from its Pulp and Paperboard segment, with a significant portion of its sales coming from the United States market.
In recent news, Clearwater Paper announced a definitive agreement to acquire Graphic Packaging Holding Company's Augusta, Georgia bleached paperboard manufacturing facility. This $700 million transaction is expected to enhance Clearwater Paper's strategic growth plans and strengthen its position as a leading independent paperboard supplier in North America. The transaction is currently pending regulatory approvals and is anticipated to close in the second quarter of 2024.
Clearwater Paper's commitment to quality and service has enabled the company to build strong customer partnerships and create substantial shareholder value. The acquisition of the Augusta facility is a testament to the company's focus on expanding its capabilities and servicing its customers more effectively.
For more information about Clearwater Paper Corporation, please visit their official website at www.clearwaterpaper.com.
Clearwater Paper (NYSE:CLW) reported Q3 2024 financial results, with net sales from continuing operations reaching $393 million, up 41% year-over-year. The company posted a net loss from continuing operations of $11 million (-$0.64 per share), compared to net income of $15 million ($0.88 per share) in Q3 2023. Total operations, including discontinued tissue business, showed net income of $6 million ($0.35 per share).
The Board approved a new $100 million share repurchase authorization. Paperboard sales volumes increased 67% to 314,320 tons, though average selling price decreased 12% to $1,192 per ton. The company recently completed the sale of its tissue business on November 1, 2024, positioning itself as a focused paperboard company.
Clearwater Paper (NYSE: CLW) has completed the sale of its tissue business to Sofidel America Corp. for $1.06 billion in cash, subject to customary price adjustments. The transaction marks a significant transformation for Clearwater into a premier independent supplier of paperboard packaging products to North American converters. The company plans to use the proceeds to reduce debt and strengthen its balance sheet, positioning itself to scale and diversify its paperboard business for long-term shareholder value. The company will release its third quarter 2024 results on November 4, 2024.
Clearwater Paper (NYSE: CLW) announced its participation in the Baird Global Industrial Conference on November 13, 2024, in Chicago, Illinois.
President and CEO Arsen Kitch and Senior Vice President and CFO Sherri Baker will speak at the conference. They will also be available for one-on-one and small group investor meetings on the same day.
Clearwater Paper (NYSE: CLW) has released its 2024 Sustainability Report, highlighting progress in their Everyday Responsibility framework across three pillars: Resource Stewardship, Trusted Products, and Thriving People and Communities. Key achievements include developing a roadmap for 2030 Scope 1 and 2 emissions targets, receiving International Sustainability and Carbon Certification, establishing the Clearwater Paper Foundation, implementing new Safety Commitments, and enhancing workforce engagement strategies.
The company announced strategic transformations in 2024, including the acquisition of a paperboard facility in Augusta, Georgia, and plans to sell their tissue business, focusing on becoming a premier independent paperboard supplier to North American converters.
Clearwater Paper (NYSE: CLW) has announced the timing for its third quarter 2024 earnings conference call and webcast. The company will release its Q3 2024 results on Monday, November 4, 2024, after market close. A conference call to discuss the results will be held on the same day at 2 p.m. Pacific Time.
President and CEO Arsen Kitch and CFO Sherri Baker will lead the discussion. Interested parties can register for the call using a provided link, with registration open through the live call. However, it is recommended to register at least 10 minutes before the call starts. The webcast and presentation slides will be accessible on Clearwater Paper's investor relations website.
Clearwater Paper (NYSE: CLW), a leading supplier of bleached paperboard and consumer tissue, has provided an update on the impact of Hurricane Helene on its operations. The company temporarily suspended operations at its Augusta, Georgia paperboard facility and Shelby, North Carolina tissue facility due to the storm's effects.
Fortunately, there was no serious damage to equipment, and both facilities are now resuming operations. Arsen Kitch, President and CEO, emphasized that the company's top priorities are the safety of its employees and ramping up operations to service customers. He expressed gratitude to the Augusta and Shelby teams for their efforts to safely resume production while dealing with the storm's personal impacts.
Clearwater Paper (NYSE: CLW) has announced its participation in two upcoming investor conferences. On September 19, 2024, Senior VP and CFO Sherri Baker will engage in a fireside chat at the TD Securities Forest Products and Packaging Conference in Toronto at approximately 11:00am ET. While there's no webcast for this event, Ms. Baker will be available for one-on-one and small group investor meetings.
Additionally, on September 25, 2024, Ms. Baker will attend the 2024 RBC Capital Markets Global Industrials Conference in Las Vegas, participating in one-on-one and small group meetings. There will be no company presentation at this conference. These events provide opportunities for investors to gain insights into Clearwater Paper's operations and strategy.
Clearwater Paper (NYSE:CLW) reported its Q2 2024 financial results, highlighting strong demand in tissue and improved demand in paperboard. Key points include:
- Net sales of $586 million, up 12% year-over-year
- Net loss of $26 million, or $1.55 per diluted share
- Adjusted EBITDA of $35 million
- Completed acquisition of Augusta paperboard facility
- Signed agreement to sell consumer products division for $1.06 billion
The company expects gradual recovery in paperboard market demand and plans to use proceeds from the tissue business sale to de-lever its balance sheet and grow its paperboard product portfolio.
Clearwater Paper (NYSE: CLW) has announced a definitive agreement to sell its tissue business to Sofidel America for $1.06 billion. This strategic move aims to transform Clearwater Paper into a premier independent supplier of paperboard to North American converters. The transaction, expected to close in late 2024, represents approximately six times the Adjusted EBITDA of Clearwater Paper's tissue segment for the twelve months ending March 31, 2024.
The company anticipates net proceeds of about $850 million, which it plans to use for deleveraging its balance sheet and investing in growth initiatives for its continuing operations. This deal marks a significant step in Clearwater Paper's strategic transformation and is subject to customary closing conditions, including regulatory approval.
Clearwater Paper (NYSE: CLW) has announced the timing for its second quarter 2024 earnings release and conference call. The company will release its Q2 2024 results on Tuesday, August 6, 2024, after market close. A conference call to discuss the results will be held on the same day at 2 p.m. Pacific Time, led by President and CEO Arsen Kitch and CFO Sherri Baker.
Interested parties can register for the conference call using a provided link, which will send confirmation details including dial-in information. Registration is open until the call starts, but it's recommended to register at least a day in advance. Additionally, a webcast and presentation slides will be accessible on Clearwater Paper's investor relations website.
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