Clearwater Paper reports Q2, 2024 net loss of $26 million

Clearwater Paper Corporation
August 6, 2024
Category: Finance & Economics
Region: United States, US West

SPOKANE, Washington — Clearwater Paper, a supplier of bleached paperboard and consumer tissue reported financial results for the second quarter and six months ended June 30, 2024. Highlights include: Net sales of $586 million, up 12% from the second quarter of last year, primarily driven by incremental sales volume from Augusta; Net loss of $26 million compared to $30 million income in the second quarter of last year; Adjusted EBITDA of $35 million, $36 million less than second quarter of last year, driven by the $32 million impact from the planned major maintenance at the Lewiston, Idaho facility. …”On July 22, 2024, the company announced that it has signed definitive agreements to sell its consumer products division (tissue business) to Sofidel America Corp. for $1.06 billion, subject to customary adjustments. The transaction is subject to regulatory approval other customary closing conditions and is currently expected to close in the fourth quarter of 2024.

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