Clearwater Paper reports 2023 results

Clearwater Paper reports results. Photo by Clearwater Paper

New data U.S. paper specialist Clearwater Paper Corporation has posted financial results for the fourth quarter and year which ended on December 31, 2023.

The business said in a statement that the reported period allowed Clearwater to demonstrate a “strong performance driven by solid operational results and continued strength in tissue”. 

The paper business posted net sales of about $2.1 billion for last year which was a similar level to the one reported for 2022, and said that 2023 was characterised by a “strong tissue demand offset softness in paperboard”. 

“We had a great year, driven by a significant improvement in our tissue margins and strong operational execution across both businesses. Tissue demand remained strong, and we benefited from favorable input costs. Paperboard demand was soft, but our team did a great job of balancing supply with demand to manage inventories," said Arsen Kitch, the firm’s president and chief executive officer. “We maintained our focus on cash flow generation, and have reduced our net debt by more than $450 million since 2020.”