Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the 2Q 2015 were $15.6 million, or $0.81 per diluted share, compared to $12.5 million, or $0.61 per diluted share, for the 2Q 2014.
"Clearwater Paper delivered strong results that exceeded the high end of our outlook for the 2Q 2015," said Linda K. Massman, president and CEO. "Our consumer products business has continued to demonstrate the ability to increase operating leverage, execute on its plan to improve efficiencies throughout the organization and expand its customer base. During the first half of the year, pulp and paperboard successfully completed major maintenance at both facilities within budget and brought these operations to a higher performance level, in addition to reaching record paperboard shipments in the 2Q."
Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $52.7 million for the 2Q 2015. Adjusted EBITDA for the quarter was $50.7 million, down 11.6% compared to 2Q 2014 Adjusted EBITDA of $57.3 million.
The decrease in EBITDA and Adjusted EBITDA was due primarily to costs associated with scheduled major maintenance at the company’s Arkansas pulp and paperboard mill and the sale of the company’s specialty tissue mills, partially offset by lower input costs for pulp, chemicals and natural gas.
Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation.
