Clearwater Paper Corporationannounced a preliminary update to the company’s previous outlook for 4Q 2020 Adjusted EBITDA of $52 to $62 million. Due to significantly greater than expected demand in tissue, strong operating performance, and favorable cost trends, the company now expects Adjusted EBITDA for the 4Q 2020 to be in the range of $71 to $76 million.
“Demand for tissue products increased significantly in November through mid-December. We believe that the recent increase in COVID-19 cases caused a temporary change in consumer buying patterns, which are starting to normalize in later December,” said Arsen Kitch, president and CEO. “We now expect our 4Q volumes to be above our previous guidance, with shipments exceeding those experienced in the 4Q 2019,” Kitch concluded.
Clearwater Paper Corporation isa premier supplier of quality tissue and bleached paperboard products.
