Tissue, board maker Clearwater Paper Q2 2022 net sales reach $526 million, up 30% YOY
Spokane, WA-based Clearwater Paper Corp., a supplier of quality tissue and bleached paperboard products, has reported its financial results for Q2 2022, and six months ended June 30, 2022.
"We continued our trend of strong performance in the second quarter due to solid operational execution and improved pricing in both businesses,” says Arsen Kitch, president/CEO. “Our paperboard business continued to experience strong demand and pricing, while our tissue volumes increased due to stronger consumer demand for private branded products.”
For the second quarter of 2022, Clearwater Paper reported net sales of $526 million, a 30% increase compared to net sales of $406 million for the second quarter of 2021. Net income for the second quarter of 2022 was $15 million, compared to net loss for the second quarter of 2021 of $52 million.
For the first six months of 2022, Clearwater Paper reported net sales of $1 billion, a 22% increase compared to net sales of $832 million for the first six months of 2021. Net income for the first six months of 2022 was $31 million, compared to net loss for the first six months of 2021 of $40 million.
Impacting the second quarter and first half of 2021, Clearwater Paper incurred impairment and other closure costs associated with the closure of its Neenah, WI, facility of $41.7 million and completed planned major maintenance at its Lewiston, ID, paperboard facility.