May 13, 2016. /Lesprom Network/.
Clearwater Paper
Corporation reported net sales of$437.2
millionfor the 1Q 2016,
up 0.7% compared to net sales of$434
millionfor the 1Q 2015.
Earnings before
interest, taxes, depreciation and amortization, or EBITDA, was$58.9 millionfor the 1Q 2016. Adjusted
EBITDA for the quarter was$60.1
million, up 58.4% compared to 1Q 2015 Adjusted EBITDA of$37.9 million.
The increase in EBITDA
and Adjusted EBITDA was due primarily to higher shipment volumes in both
paperboard and tissue, the absence of scheduled major maintenance at the
company'sLewiston,
Idaho, pulp and paperboard facility, lower input costs for energy,
chemicals, transportation, packaging supplies, and external pulp costs along
with increased use of internally generated pulp, and improved absorption of
fixed costs. These improvements were partially offset by lower paperboard
pricing and a higher mix of both commodity grade paperboard and tissue parent
roll sales in the quarter.
"Clearwater Paper got off to a strong
start in 2016. We delivered first quarter results that met or exceeded the high
end of our outlook ranges for net sales, operating margin, and EBITDA,"
saidLinda
Massman, president and CEO. "Our consumer products business
produced an adjusted EBITDA margin of 13.3%, the highest in over three years
and pulp and paperboard continues to perform well. I am especially pleased with
approximately $8 millionin savings from strategic
capital and operational efficiency initiatives we achieved in the quarter."
Clearwater Paper manufactures quality consumer tissue,
away-from-home tissue, parent roll tissue, bleached paperboard and pulp at
manufacturing facilities across the nation.
