Overview

* Clearwater Paper ( CLW ) Q3 revenue grows 1% yr/yr, beating analyst expectations

* Company reports Q3 net loss of $53 mln due to $45 mln goodwill impairment

* Adjusted EBITDA for Q3 falls to $18 mln from $21 mln last year

Outlook

* Clearwater Paper ( CLW ) sees SBS market in oversupply, impacting consumer paperboard market

* Company focuses on reducing fixed costs and maintaining market share

* Clearwater Paper ( CLW ) optimistic about long-term cash flows and returns from high-quality assets

Result Drivers

* SHIPMENT VOLUME - 3% increase in shipment volumes contributed to higher net sales

* GOODWILL IMPAIRMENT - $45 mln non-cash goodwill impairment charge drove net loss

* MAINTENANCE OUTAGE - Major maintenance outage at Lewiston mill cost $24 mln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales Beat $399 mln $389 mln

(1

Analyst)

Q3 EPS -$3.30

Q3 Net -$53 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the paper products peer group is "buy"

* Wall Street's median 12-month price target for Clearwater Paper Corp ( CLW ) is $33.00, about 41.2% above its October 27 closing price of $19.39

* The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)