Clearwater Paper Corporation reported net sales of $428.7 million for the 4Q 2018, which was $8 million or 1.8% lower than net sales of $436.7 million for the 4Q 2017. The decrease was primarily due to the sale of the company's mill in Ladysmith, Wisconsin in August 2018 and lower tissue shipments, partially offset by higher paperboard shipments and pricing.
Earnings before interest, taxes, depreciation and amortization, or EBITDA, were $(149.7) million for the 4Q 2018, compared to $52.2 million for the 4Q 2017. Adjusted EBITDA for the quarter was $45.5 million, down 21.0% compared to 4Q 2017 Adjusted EBITDA of $57.5 million.
For the full year 2018, the company reported net sales of $1.7 billion, which was flat with 2017 net sales. Price increases in tissue and paperboard helped offset reduced tissue shipment volumes resulting primarily from the sale of the Ladysmith, Wisconsin mill and changes in customer orders.
EBITDA was $(0.9) million for full year 2018, compared to $177.3 million for 2017. Adjusted EBITDA for the year was $176.7 million compared to 2017 Adjusted EBITDA of $189.5 million.
“We are pleased to deliver solid fourth quarter results driven largely by the strong execution of our pulp and paperboard business,” said Linda K. Massman, president and CEO. “Also, by executing against our strategic priorities, in 2018 we were able to successfully implement a regional consumer products operating model; accelerate the start-up of converting lines in Shelby, North Carolina; and complete the sale of a recycled tissue mill in Ladysmith, Wisconsin.”
Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities.
