Clearwater reports Q1 2022 results
In April of 2022, Clearwater Paper Corporation (Clearwater), reported quarterly results for the first quarter of 2022: system wide quarterly sales rose 8.0% to reach $490.0 million, while net income rose to $10.0 million. The company also announced that it was able to reduce its debt by $37.0 million in the first quarter of the year. Given the company’s strong performance over the past five years, paring down debt and rising sales can only serve to help the company position itself for higher growth over the next five years.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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