NYSE$CLW

Clearwater Paper Corporation · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Clearwater Paper reported solid performance driven by strength in the paperboard business, managing increased COVID related absences, supply chain disruptions, and weather impacts.

Clearwater Paper Corporation reported Q4 2021 financial results with net sales of $490 million, up 8% compared to Q4 2020. Net income was $10 million, or $0.56 per diluted share. The company delivered strong paperboard sales and greater stability in tissue demand.

  • Delivered solid performance due to continued strength in the paperboard business
  • Managed through increased COVID related absences, supply chain disruptions and weather impacts
  • Achieved net income of $10 million, or $0.56 per diluted share and Adjusted EBITDA of $56 million
  • Net sales of $490 million, up 8% compared to the fourth quarter of 2020

Headline financials

Total Revenue

$490M

Previous: $453M+8.2%
EPS (adj)

$0.82

Previous: $1.45-43.4%
Adjusted EBITDA

$56M

No prior period
Paperboard Avg Net Selling Price per ton

$1.16K

Previous: $1K+16.2%
Capital Expenditures

$8.5M

Previous: $12.1M-29.8%
Free Cash Flow

$23.5M

Previous: $58.8M-60.0%
Net Income

$10M

Previous: $23M-56.5%
Operating Income

$27.6M

Previous: $41.9M-34.1%
Gross Profit

$60.7M

Previous: $76.7M-20.9%
Cash & Equivalents

$25.2M

Previous: $35.9M-29.8%
Total Assets

$1.69B

Previous: $1.8B-6.1%
Stock-Based Comp

$2.2M

Previous: $3.2M-31.3%

Revenue & EPS history

Clearwater Paper · Revenue · Quarterly

$490M

Q4 2021+8.2%vs Q4 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

For 2022, the company is expecting continued strength in its paperboard markets, with tissue demand normalizing. While facing significant inflation and other supply chain disruptions, they believe they are well positioned operationally and financially to continue to execute well into the first quarter and the rest of 2022.

Tailwinds

  • Expecting continued strength in paperboard markets
  • Tissue demand normalizing
  • Well positioned operationally
  • Well positioned financially
  • Continue to execute well into the first quarter and the rest of 2022

Headwinds

  • Significant inflation
  • Supply chain disruptions

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-2.7%

Avg return

Earnings day

-4.4%

Avg return

5 days after

-4.0%

Avg return

30 days after

39%

26 / 66 earnings

Positive

+24.1%

Q1 2022

Best reaction

-33.5%

Q1 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-13.5%-14.3%+9.8%
Q4 2025-8.6%-15.1%-26.6%
Q3 2025-8.5%-6.2%-5.8%
Q2 2025-18.4%-24.9%-26.7%
Q1 2025+7.4%+4.0%+15.1%
Q4 2024-8.4%-3.9%-17.6%
Q3 2024+8.3%+4.8%+5.0%
Q2 2024-23.3%-34.5%-39.1%
Q1 2024+12.0%+12.4%+30.3%
Q4 2023+3.4%+7.5%+21.7%
Q3 2023-2.1%+3.1%+1.2%
Q2 2023+14.8%+10.9%+18.8%
Q1 2023-15.9%-12.2%-18.7%
Q4 2022-0.2%-1.0%-10.8%
Q3 2022-15.1%-10.4%-10.4%
Q2 2022+15.3%+20.1%+18.4%
Q1 2022+24.1%+20.8%+28.6%
Q4 2021-12.7%-7.4%-6.0%
Q3 2021+0.4%-6.5%+0.5%
Q2 2021+2.1%+8.4%+18.5%
Q1 2021-10.0%-14.0%-16.4%
Q4 2020-18.7%-15.1%-11.4%
Q3 2020-12.2%-13.2%-8.0%
Q2 2020+2.5%-4.7%-14.1%
Q1 2020+21.2%+21.5%+36.5%
Q4 2019+10.2%+11.2%-18.5%
Q3 2019+2.2%-0.4%+6.1%
Q2 2019-13.9%-0.3%-18.5%
Q1 2019-10.7%-3.7%-20.1%
Q4 2018-16.0%-17.0%-25.4%
Q3 2018-6.6%-6.3%-0.9%
Q2 2018+11.9%+14.8%+28.5%
Q1 2018-33.5%-40.3%-35.8%
Q4 2017-25.1%-23.0%-13.8%
Q3 2017+3.2%+4.5%+4.0%
Q2 2017-9.2%-9.0%-6.6%
Q1 2017-13.4%-12.6%-18.8%
Q4 2016-6.7%-3.9%-17.3%
Q3 2016-14.7%-15.3%-3.7%
Q2 2016-7.1%-5.4%-11.0%
Q1 2016+10.1%
Q4 2015-5.9%
Q3 2015+1.2%
Q2 2015+10.2%
Q1 2015+1.8%
Q4 2014-17.4%
Q3 2014+0.4%
Q2 2014+12.0%
Q1 2014-1.4%
Q4 2013+9.6%
Q3 2013+8.3%
Q2 2013-0.7%
Q1 2013-8.6%
Q4 2012+4.3%
Q3 2012-6.6%
Q2 2012+4.9%
Q1 2011-0.9%
Q1 2012+7.2%
Q4 2009-0.4%
Q1 2010-0.4%
Q4 2011-0.4%
Q3 2011-1.8%
Q3 2010-1.8%
Q2 2010-5.2%
Q4 2010-5.2%
Q2 2011-5.2%

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