Clearwater Paper Reports Updated Fourth Quarter Guidance
Clearwater Paper Corporation, a premier supplier of quality tissue and bleached paperboard products, today announced a preliminary update to the company’s previous outlook for fourth quarter 2020 Adjusted EBITDA of $52 to $62 million.
Due to significantly greater than expected demand in tissue, strong operating performance, and favorable cost trends, the company now expects Adjusted EBITDA for the fourth quarter of 2020 to be in the range of $71 to $76 million.
“Demand for tissue products increased significantly in November through mid-December. We believe that the recent increase in COVID-19 cases caused a temporary change in consumer buying patterns, which are starting to normalize in later December,” said Arsen Kitch, president and chief executive officer. “We now expect our fourth quarter volumes to be above our previous guidance, with shipments exceeding those experienced in the fourth quarter of 2019,” Kitch concluded.
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About Clearwater Paper
Clearwater Paper is a premier supplier of private brand tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters, and offers services that include custom sheeting, slitting and cutting. Clearwater Paper’s employees build shareholder value by developing strong relationships through quality and service.
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Source: Clearwater Paper Corporation