Clearwater Paper Reports Third Quarter 2024 Results; Board Approves New $100M Share Repurchase Authorization

“We delivered a strong third quarter, even as we dealt with the impact of Hurricane Helene at our Augusta, Georgia and Shelby, North Carolina facilities,” said Arsen Kitch, president and CEO. “We are also pleased that we closed on the sale of our tissue business and are now well positioned to execute on our strategy of building a premier paperboard company that is focused on servicing independent converters in North America.”

Clearwater Paper’s Board of Directors has approved a new $100 million share repurchase authorization, allowing the Company to opportunistically repurchase shares in addition to offsetting the dilution from employee share grants. This authorization replaces the Company’s previous authorization. The timing and amount of any repurchases of common stock will be solely at the discretion of the Company and is subject to general business and market conditions, as well as other factors.
details at: https://s24.q4cdn.com/913789668/files/doc_financials/2024/q3/CLW-2024-9-30-8K-Exhibit-99-1-10.pdf

Related Posts

AF&PA Releases May 2024 Printing-Writing Monthly Report

According to the report, total printing-writing paper shipments increased 1% in May compared to May 2023. Total printing-writing paper inventory levels increased 2% when compared to April 2024. U.S. purchases of total printing-writing papers increased 10% in April compared to the same month last year. Individually, U.S. uncoated free sheet (UFS) purchases increased 10% over the same period, coated free sheet (CFS) purchases increased 21% while mechanical (MECH) paper purchases decreased 4%.

SKG to acquire Reparenco for approximately €460 million

Smurfit Kappa Group plc is pleased to announce that it has agreed to acquire Reparenco, a privately owned paper and recycling business in the Netherlands, for a cash consideration of approximately €460 million following a competitive process. Reparenco operates a two machine paper mill in the Netherlands with a capacity of 675,000 tonnes together with a 750,000 tonne recovered fibre operation. Reparenco employs 315 people with Gross Assets of €189 million and generated EBITDA of €41 million in the 12 months to April 2018, during which time the business continued to ramp up production. Click Read More below for additional information.

Clearwater Paper Suspended Arkansas Operations Due to Severe Weather Conditions

Clearwater Paper Corporation announced that it temporarily suspended its pulp and paperboard operation in Cypress Bend, Arkansas. The cold weather has resulted in the curtailment of natural gas deliveries to the mill as natural gas providers prioritize residential needs. “We are focused on the health and safety of our employees, maintaining our assets, and working to meet customer needs during this unexpected outage,” said Arsen Kitch, president and chief executive officer. “We intend to resume operations as soon as we are safely able to do so.” The company will provide an update on the anticipated impacts of the outage during its fourth quarter and full year 2020 earnings announcement, scheduled for Thursday, February 25.
Back To Top
×Close search
Search