Clearwater Paper Corporation (NYSE:CLW) Q3 2024 Earnings Conference Call November 4, 0000 5:00 PM ET

Company Participants

Sloan Bohlen - Investor Relations
Arsen Kitch - President, Chief Executive Officer and Director
Sherri Baker - Senior Vice President and Chief Financial Officer

Conference Call Participants

Matthew McKellar - RBC Capital Markets

Operator

Thank you for standing by. And welcome to the Clearwater Paper Third Quarter 2024 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]. Thank you.

I would now like to turn the call over to Mr. Sloan Bohlen, Investor Relations. You may begin.

Sloan Bohlen

Thank you, Rob. And good afternoon, and thanks everyone for joining Clearwater Paper's third quarter 2024 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 third quarter of 2024 were released shortly after today's market close, along with the filing of our 10-Q. 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 the supplemental information covering forward-looking statements. Rather than rereading this Slide, we are going to incorporate it by reference into our prepared remarks.

And with that, let me turn the call over to Arsen.

Arsen Kitch

Thank you for joining us today and good afternoon. Given our recent strategic announcements, I'm going to start my comments with a few highlights for the third quarter and then spend the bulk of my time discussing our industry fundamentals, our strategy and what you can expect from us in the long run.

Sherri will then cover our third quarter results, as well as our financial outlook, including initial expectations for 2025. Let's start with a few highlights. We had a very good third quarter overall, delivering $64 million of adjusted EBITDA. This was in the middle of our guidance range of $58 million to $68 million. We would have been above the high end of the range without the approximately $5 million of negative impact from Hurricane Helene, which affected our Augusta, Georgia paperboard facility, as well as the Shelby, North Carolina tissue mill.