Clearwater Paper Corporation (CLW) reported a decline in profit for the third quarter compared to the same period last year, yet exceeded market expectations. The company's net income stood at $5.8 million, or $0.35 per share, a decrease from $36.6 million, or $2.17 per share, recorded in the third quarter of the previous year. According to Thomson Reuters, analysts had projected earnings of $0.29 per share on average, typically excluding any special items. Despite the lower profit, Clearwater Paper experienced a significant revenue increase of 41.0%, reaching $393.3 million compared to $278.9 million in the prior year.
Summary of Clearwater Paper Corporation's financial performance (GAAP) for Q3:
- Net Income: $5.8 million vs. $36.6 million last year
- Earnings Per Share (EPS): $0.35 vs. $2.17 last year
- Revenue: $393.3 million vs. $278.9 million last year
