Clearwater Paper Corporation has reported its financial results for the first quarter of 2017.
Net sales came in at $437.5 million, essentially unchanged from the first quarter of 2016, while net earnings determined totaled $7.5 million. Earnings were 59 percent lower than a year ago, primarily due to higher input costs for natural gas, transportation and maintenance, and costs related to the closure of the company’s Oklahoma City converting facility.
The bottom line was helped by lower wage and benefit costs due to the implementation of warehouse automation, and the shutdown of two paper machines in the Neenah, Wisconsin mill.
Net sales in the Consumer Products segment were $242.4 million for the first quarter of 2017, with operating income of $6.2 million. Pulp and paperboard had $195.1 million in net sales, with operating income of $27.2 million. (Clearwater Paper)
