Welcome to our dedicated page for Clearwater Paper news (Ticker: CLW), a resource for investors and traders seeking the latest updates and insights on Clearwater Paper stock.
Clearwater Paper Corporation (NYSE: CLW) is a manufacturer in the paperboard mills industry and a premier independent supplier of bleached paperboard packaging products to North American converters. The company reports that its high-quality paperboard supports sustainable packaging solutions for consumer goods and food service applications, and that it focuses on Solid Bleached Sulfate (SBS) paperboard used in folding cartons, food service items, and commercial printing products.
This news page aggregates CLW stock updates and company announcements drawn from Clearwater Paper’s public communications. Readers can follow quarterly earnings releases, where the company discusses net sales, net income or loss from continuing operations, Adjusted EBITDA from continuing operations, and the impact of acquisitions, divestitures, and cost reduction actions. Recent news has highlighted the acquisition of the Augusta, Georgia paperboard facility, the sale of the tissue business, and the company’s emphasis on becoming a focused paperboard packaging company.
Investors and followers of Clearwater Paper can use this feed to review information about major maintenance outages at mills, fixed cost reduction initiatives, and management’s commentary on SBS industry conditions and market dynamics as described by the company. The page also surfaces notices about upcoming earnings conference calls, webcasts, and participation in investor conferences hosted by financial institutions.
By checking this CLW news page, users can see how Clearwater Paper describes its operational performance, strategic priorities in paperboard packaging, and non-GAAP measures such as Adjusted EBITDA from continuing operations over time.
Everus Construction Group (ECG) will be added to the S&P SmallCap 600 effective prior to the open on November 1, 2024, replacing Clearwater Paper (CLW), which will be removed prior to the open on November 4, 2024.
MDU Resources is spinning off Everus on November 1; MDU will remain in the index but change its GICS sector from Industrials to Utilities. The table summarizes the index additions and deletions with dates and sectors.
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.
Clearwater Paper (NYSE: CLW) will invest $23 million in a state-of-the-art facial tissue converting line at its Shelby, North Carolina facility. This 400-acre site, which already produces private-branded bathroom tissue, paper towels, napkins, and facial tissue, employs over 600 people. The investment aims to meet rising customer demand, optimize operational efficiency, and maintain high-quality standards. The decision to expand in Shelby is influenced by its strategic location, skilled labor availability, and strong community relationships.
Clearwater Paper (NYSE: CLW) will participate in two upcoming investor conferences. On June 4, 2024, CEO Arsen Kitch will join a fireside chat at Stifel’s 2024 Cross Sector Insight Conference in Boston, starting at 9:45 a.m. ET. The event will be webcast live and accessible through the company's investor relations website. Kitch will also be available for one-on-one and small group meetings.
On June 11, 2024, CEO Arsen Kitch and CFO Sherri Baker will attend the 2024 Wells Fargo Industrials Conference in Chicago, where they will also participate in one-on-one and small group meetings with investors.