Clearwater Paper Corporation (NYSE:CLW) Q4 2023 Earnings Conference Call February 21, 2024 5:00 PM ET

Company Participants

Arsen Kitch - President and Chief Executive Officer

Sherri Baker - Senior Vice President and Chief Financial Officer

Conference Call Participants

Matthew McKellar - RBC Capital Markets

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Clearwater Paper Fourth Quarter and Full Year 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question-and-answer session. [Operator Instructions] As a reminder, today's call is being recorded.

I will now hand today's call over to Kyle Nagarkar, Investor Relations. Please go ahead, sir.

Unidentified Company Representative

Thank you, operator. Good afternoon, and thank you for joining Clearwater Paper's Fourth Quarter and Full Year 2023 Earnings Conference Call. Joining me on the call today are Arsen Kitch, President and Chief Executive Officer; and Sherri Baker, Senior Vice President and Chief Financial Officer.

Financial results for the fourth quarter of 2023 were released shortly after yesterday'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 Slide 2 of our supplemental information covering forward-looking statements. Rather than rereading this slide, we are going to incorporate it by reference into our prepared remarks.

With that, let me turn the call over to Arsen.

Arsen Kitch

Good afternoon, and thank you for joining us today. We will begin today's call with a strategic update and the announcement of our pending acquisition of the Augusta, Georgia paperboard manufacturing facility from Graphic Packaging. On our last call, I mentioned that we've made significant progress over the past few years, improving our operations and becoming a more competitive player in both of our businesses.

I also mentioned that we believe that scale is needed to be able to invest and grow, especially given the capital-intensive nature of our industry. In paperboard, we laid out our goal of building a scaled, high-performing and diversified paperboard business that is well matched to the needs of paperboard converters in North America. The Augusta acquisition is an outstanding strategic fit. It will add significant scale and growth capacity to our paperboard business and strengthen our position as a premier independent supplier of paperboard products to North American converters.