Clearwater Paper Profit Falls, Yet Tops Estimates

(RTTNews) - Clearwater Paper Corp (CLW) on Wednesday reported first-quarter net earnings of $5.8 million or $0.30 per share compared with $6.2 million or $0.29 per share last year.

Excluding items, adjusted earnings for the quarter were $0.36 per share compared with $0.66 per share a year ago.

Clearwater, which makes private label tissue and bleached paperboard products, said its revenues for the quarter slid to $434 million from $484.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.31 per share on revenues of $435.5 million for the quarter. Analysts' estimates typically exclude special items.

"We saw an increase in paperboard volumes off of seasonal levels and improvement to the cost structure of our Consumer Products business... we are starting to see positive results in our businesses with the increased focus on bringing efficiencies," said CEO Linda Massman.