Clearwater Paper Corporation (NYSE:CLW) Q4 2022 Earnings Conference Call February 14, 2023 5:00 PM ET
Company Participants
Sloan Bohlen - IR
Arsen Kitch - President and CEO
Michael Murphy - CFO
Conference Call Participants
Adam Josephson - KeyBanc Capital Markets
Paul Quinn - RBC Capital Markets
Operator
Good afternoon, and welcome to Clearwater Paper Corporation's Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants are in a listen only mode. After the speakers' presentation, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the call over to Sloan Bohlen, Investor Relations. Thank you. Please go ahead.
Sloan Bohlen
Thank you, Julian. Good afternoon and thank you for joining Clearwater Paper's fourth quarter 2022 earnings conference call. Joining me on the call today are Arsen Kitch, President and Chief Executive Officer; and Mike Murphy, Chief Financial Officer. Financial results for the fourth quarter of 2022 were released shortly after today's market close, along with the filing of our 10-K. You will find a presentation of supplemental information, including a slide providing the company's current outlook posted on the Investor Relations page of our website at clearwaterpaper.com.
Additionally, we will be providing certain non-GAAP information in this afternoon's discussion. A reconciliation of the non-GAAP information to comparable GAAP information is included in the press release and in the supplemental information provided on our website. Please note that Slide two of our supplemental information covering the forward-looking statements, rather than rereading this slide, we were going to incorporate it by reference into our prepared remarks.
And with that, let me turn the call over to Arsen.
Arsen Kitch
Good afternoon and thank you for joining us today. Please turn to Slide three. We had a strong year in 2022, but a challenging fourth quarter due to operational and weather related issues. We reported net sales of $527 million in the fourth quarter and $2.1 billion for 2022. Adjusted EBITDA was $28 million in the fourth quarter and $227 million for 2022.
Let me share a few highlights. Prices increased in both paperboard and tissue during the quarter and the year. Private branded tissue share strengthened as consumers sought to offset inflation. Paperboard demand had a robust year, but moderated late in the fourth quarter due to customers managing inventories and a return to more normal seasonal patterns. While inflation started to moderate, it was still a headwind in the fourth quarter. We completed a major maintenance outage at our Lewiston site, but experienced several operational and weather related issues during the quarter.