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Last $56.01 USD
Change Today +1.18 / 2.15%
Volume 116.0K
CLW On Other Exchanges
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

clearwater paper corp (CLW) Key Developments

Clearwater Paper Corporation Appoints Robert N. Dammarell as Controller and Principal Accounting Officer

On August 20, 2015, Clearwater Paper Corporation appointed Robert N. Dammarell, 51, to serve as the company’s Controller and principal accounting officer effective August 24, 2015. Mr. Dammarell joined the company in 1990 and during that time has served in various financial and accounting leadership roles. From June 2011 to August 2015 he served as the Company’s Financial Reporting Manager and from March 2006 to June 2011 as the Corporate Accounting Manager. Since April 2015, Mr. Dammarell has served as interim Controller for the company.

Clearwater Paper Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2015

Clearwater Paper Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales were $444.56 million against $498.76 million a year ago, primarily due to the sale of the company’s specialty mills in December 2014. Income from operations was $32.07 million against $33.08 million a year ago. Earnings before income taxes were $24.3 million against $22.39 million a year ago. Net earnings were $15.6 million against $12.45 million a year ago. Diluted earnings per share were $0.81 against $0.61 a year ago. EBITDA was $52.705 million against $55.098 million a year ago. Adjusted EBITDA was $50.65 million against $57.28 million a year ago. The decrease in EBITDA and Adjusted EBITDA was due primarily to costs associated with scheduled major maintenance at the company’s Arkansas pulp and paperboard mill and the sale of the company’s specialty tissue mills, partially offset by lower input costs for pulp, chemicals and natural gas. Adjusted net earnings were $14.19 million against $15.25 million a year ago. Adjusted diluted earnings per share were $0.74 against $0.74 a year ago. Adjusted operating income of $30 million or a 6.8% margin came in above the high end of outlook of 6.1%. Capital expenditures were $30 million in the second quarter of 2015, of which $12 million was spent on strategic projects. During the second order, the company generated $60 million of cash from operating activities or 13.5% of net sales, which is up from $28 million in the first quarter due to stronger earnings and improvements in working capital, particularly lower inventories and improved days payable outstanding, which together shortened the cash conversion cycle by 8 days year-to-date. For the six months, the company reported net sales were $878.58 million against $983.68 million a year ago. Income from operations was $47.3 million against $53.6 million a year ago. Earnings before income taxes were $31.75 million against $32.18 million a year ago. Net earnings were $21.35 million against $18.68 million a year ago. Diluted earnings per share were $1.10 against $0.90 a year ago. Net cash flows from operating activities was $87.910 million against $94.913 million a year ago. Additions to plant and equipment were $55.538 million against $32.612 million a year ago. EBITDA was $88.95 million against $97.85 million a year ago. Adjusted EBITDA was $88.58 million against $112.03 million a year ago. Adjusted net earnings were $21.11 million against $29.16 million a year ago. Adjusted diluted earnings per share were $1.09 against $1.40 a year ago. Long-term debt outstanding on June 30, 2015, remained unchanged at $575 million. The company expects its annual GAAP and adjusted tax rates to be approximately 36% for 2015. The expected total CapEx for the year is approximately $155 million, of which $85 million is for strategic projects and $70 million is for maintenance. The company continues to expect the full year adjusted EBITDA to be in the range of $210 million to $225 million. For the third quarter of 2015, the company expects net sales to be flat to up 2%. The company expects further improvement to consolidated adjusted operating margin, which should be in the range of 9% to 10.5%. Net interest expense to be about $8 million; and an adjusted tax rate of 36%, plus or minus 2 percentage points. All these variables combined are expected to result in a third quarter EBITDA range of $62 million to $78 million.

Clearwater Paper Corporation, Q2 2015 Earnings Call, Jul 30, 2015

Clearwater Paper Corporation, Q2 2015 Earnings Call, Jul 30, 2015

Clearwater Paper Corporation Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015

Clearwater Paper Corporation Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015 . Venue: The Westin Chicago River North, 320 North Dearborn Street, Chicago, IL 60654, United States. Speakers: John D. Hertz, Chief Financial Officer and Senior Vice President of Finance.

Clearwater Paper Corporation Presents at Macquarie's Triple M: Global Metals, Mining & Materials Conference 2015, Jun-10-2015

Clearwater Paper Corporation Presents at Macquarie's Triple M: Global Metals, Mining & Materials Conference 2015, Jun-10-2015 . Venue: Omni Berkshire Place, 21 East 52nd Street (Between Madison & 5th Avenues), New York, NY 10022, United States.

 

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CLW

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Valuation CLW Industry Range
Price/Earnings 100.0x
Price/Sales 0.6x
Price/Book 2.2x
Price/Cash Flow 2,964.8x
TEV/Sales 0.2x
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