Clearwater Paper Corporation has posted net sale results of $444.6m for the second quarter of 2015, down 10.9% year-on-year.
The company said this was primarily due to the sale of its specialty mills in December 2014.
Adjusted EBITDA for the quarter was $50.7m, down 11.6% compared to second quarter 2014 adjusted EBITDA of $57.3m.
The decrease is said to be due to costs associated with scheduled major maintenance at the company’s Arkansas pulp and paperboard mill and the sale of its specialty tissue mills, partially offset by lower input costs for pulp, chemicals and natural gas.
Its consumer products division reported net sales of $239.4m for the second quarter of 2015, down 20% compared to second quarter 2014 net sales of $299.1m.
This decrease was due to the sale of the specialty tissue mills.
Total tissue sales volumes of 96,220 tonnes in the second quarter of 2015 declined by 28.6% and converted product cases shipped were 13.1m, down 6.9%.
Average tissue net selling prices increased 12.0% to $2,482 per tonne in the second quarter of 2015 due to improved product mix after the sale of the specialty mills.
Linda K. Massman, president and chief executive, said: “Clearwater Paper delivered strong results that exceeded the high end of our outlook for the second quarter of 2015.
“Our consumer products business has continued to demonstrate the ability to increase operating leverage, execute on its plan to improve efficiencies throughout the organisation and expand its customer base.”
