KapStone Reports First Quarter Results
First Quarter Operating Highlights: Consolidated net sales of $799 million in the first quarter of 2018 increased by $33 million, or 4 percent compared to $766 million for the 2017 first quarter. The increase in net sales is primarily due to higher prices, partially offset by lower sales volume. The Company sold 662,000 tons of paper during the first quarter of 2018 compared to 699,000 tons a year earlier. Net income of $33 million for the 2018 first quarter increased by $27 million, or 446 percent, compared to the 2017 first quarter. The higher earnings primarily reflects: •Higher selling prices and a better product mix of $48 million, •Favorable productivity of $10 million mainly due to higher mill production, •Lower recycled fiber costs of $6 million. Click Read More below for additional information.