Clearwater Paper Enters Definitive Deal To Sell Its Tissue Business To Sofidel America For $1.06B

7/22/24 6:12:49 AM ET

Paper

Basic Materials

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The transaction represents the next step in the Company's transformation to become a premier independent supplier of paperboard to North American converters and the conclusion of its previously announced review of strategic options for the tissue business.

The Company expects net proceeds from the transaction of approximately $850 million, which it intends to use to meaningfully delever its balance sheet and invest in growth initiatives for its continuing operations.

The transaction is expected to close in the latter part of 2024, subject to customary closing conditions.

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Recent Analyst Ratings for
$CLW

Date	Price Target	Rating	Analyst
10/18/2024	$48.00 → $37.00	Sector Perform → Outperform	RBC Capital Mkts
10/31/2023	$42.00 → $396.00	Outperform → Sector Perform	RBC Capital Mkts
4/24/2023	$38.00 → $42.00	Sector Perform → Outperform	RBC Capital Mkts
11/1/2022	$45.00	Outperform → Sector Perform	RBC Capital Mkts
8/3/2022	$40.00 → $45.00	Sector Perform → Outperform	RBC Capital Mkts
2/16/2022		Market Perform → Outperform	BMO Capital Markets
2/16/2022	$50.00 → $35.00	Outperform → Sector Perform	RBC Capital
12/20/2021	$48.00 → $42.00	Outperform → Market Perform	BMO Capital Markets

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Clearwater Paper Reports Third Quarter 2024 Results; Board Approves New $100M Share Repurchase Authorization
Clearwater Paper Corporation (NYSE:CLW), a premier independent supplier of bleached paperboard to North American converters today reported financial results for the third quarter and nine months ended September 30, 2024. THIRD QUARTER HIGHLIGHTS With the consummation of the sale of our tissue business on November 1, 2024, all periods presented include our former tissue segment as discontinued operations and the paperboard segment plus corporate expenses as continuing operations. Total operations includes both continuing and discontinued operations. Net sales from continuing operations of $393 million, up 41% from the third quarter of last year primarily due to incremental volume from ou
11/4/24 4:13:00 PM ET
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Clearwater Paper Announces the Closing of the Sale of its Tissue Business
Completion of the Sale Accelerates Transformation into a Premier Independent Supplier of Paperboard to North American Converters and Significantly Reduces the Company's Net Debt Clearwater Paper Corporation (NYSE:CLW) ("Clearwater Paper" or the "Company"), today announced the successful completion of the sale of its tissue business to Sofidel America Corp., a subsidiary of Sofidel S.p.A. ("Sofidel"), for $1.06 billion in cash, prior to customary purchase price adjustments. The transaction represents a significant step in the Company's transformation into a premier independent supplier of paperboard packaging products to North American converters. Terms of the sale were first announced on J
11/1/24 9:15:00 AM ET
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Clearwater Paper Announces Participation in Baird Global Industrial Conference
Clearwater Paper Corporation (NYSE:CLW) today announced upcoming participation in the Baird Global Industrial conference on November 13, 2024, in Chicago, Ill. President and Chief Executive Officer Arsen Kitch and Senior Vice President and Chief Financial Officer Sherri Baker will speak at the conference and will be available for one-on-ones and small group investor meetings that day. About Clearwater Paper Corporation Clearwater Paper is a premier supplier of paperboard and private brand tissue. The company's paperboard operations serve quality-conscious printers and packaging converters, with services that include custom sheeting, slitting, and cutting. The company's tissue operations
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Clearwater Paper Reports Third Quarter 2024 Results; Board Approves New $100M Share Repurchase Authorization
Clearwater Paper Corporation (NYSE:CLW), a premier independent supplier of bleached paperboard to North American converters today reported financial results for the third quarter and nine months ended September 30, 2024. THIRD QUARTER HIGHLIGHTS With the consummation of the sale of our tissue business on November 1, 2024, all periods presented include our former tissue segment as discontinued operations and the paperboard segment plus corporate expenses as continuing operations. Total operations includes both continuing and discontinued operations. Net sales from continuing operations of $393 million, up 41% from the third quarter of last year primarily due to incremental volume from ou
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$CLW
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Basic Materials
Clearwater Paper Announces Availability and Timing of Third Quarter 2024 Earnings Conference Call and Webcast
Clearwater Paper Corporation (NYSE:CLW) will release its third quarter 2024 results on Monday, November 4, 2024 after market close. President and Chief Executive Officer, Arsen Kitch and Chief Financial Officer, Sherri Baker, will discuss the results during a conference call that day at 2 p.m., Pacific Time. Registration To register for the conference call, please use this link. After registering, confirmation will be sent through email, including dial-in details and unique conference call codes for entry. Registration is open through the live call, but we recommend that you register a day in advance or at minimum 10 minutes before the start of the call. Webcast The webcast and presentati
10/21/24 4:05:00 PM ET
$CLW
Paper
Basic Materials
Clearwater Paper Reports Second Quarter 2024 Results
Clearwater Paper Corporation (NYSE:CLW), a premier supplier of bleached paperboard and quality consumer tissue today reported financial results for the second quarter and six months ended June 30, 2024. SECOND QUARTER HIGHLIGHTS Continued strong demand in tissue, improved demand in paperboard Completed acquisition of Augusta paperboard manufacturing facility Net sales of $586 million, up 12% from the second quarter of last year, primarily driven by incremental sales volume from Augusta Net loss of $26 million, or $1.55 per diluted share compared to $30 million income, or $1.75 per diluted share in the second quarter of last year Adjusted EBITDA of $35 million, $36 million l
8/6/24 4:05:00 PM ET
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Clearwater Paper To Sell Tissue Business To Sofidel America For $1.06B; Transaction To Reduce Net Debt And Advance Transformation Into Premier Independent Supplier Of Paperboard To North American Converters
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Clearwater Paper Enters Definitive Deal To Sell Its Tissue Business To Sofidel America For $1.06B

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$CLW SEC Filings

SEC Form 10-Q filed by Clearwater Paper Corporation

Clearwater Paper Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Leadership Update, Financial Statements and Exhibits

Clearwater Paper Corporation filed SEC Form 8-K: Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits

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

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SEC Form SC 13G/A filed by Clearwater Paper Corporation (Amendment)

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SEC Form 4 filed by Director Hillman Jeanne M

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Clearwater Paper To Sell Tissue Business To Sofidel America For $1.06B; Transaction To Reduce Net Debt And Advance Transformation Into Premier Independent Supplier Of Paperboard To North American Converters

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