Clearwater Paper reports improved 3Q income, record paperboard shipments

Clearwater Paper Co. reported improved third-quarter earnings, citing one-time gains from the sale of a manufacturing facility in Wisconsin and record paperboard shipments.

The Spokane-based company reported $34.4 million in net income, or $2.08 per share, during the quarter. The results compared to $900,000 in net income, or 5 cents per share, for the third quarter of 2017.

Sale of the plant in Ladysmith,Wisconsin, generated $22.9 million during the quarter. Clearwater Paper also benefited from higher prices and record shipments for paperboard during the quarter and lower expenses, said Linda K. Massman, president and CEO.

The company is in the final stretch of completing a new paper machine, warehouse and converting lines in Shelby, North Carolina, she said.