Clearwater Paper Corporation reported net income of $5.8 million for the third quarter ended September 30, 2024. Net sales from total operations reached $644 million, marking a 24% increase year-over-year.
Adjusted EBITDA from total operations was $64 million. The increase in sales was driven by a 67% rise in paperboard volume, primarily due to the Augusta acquisition, which was partially offset by a 12% decline in paperboard pricing.
The company's Board of Directors approved a new $100 million share repurchase authorization. Clearwater Paper also reduced its net debt by $199 million in 2024, achieving a net leverage ratio of 1.1 times at year-end 2024, utilizing proceeds from the tissue business sale.
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