CLW - Clearwater Paper cheers strong Q4 guidance

For Q4, Clearwater Paper (CLW) +3.7% AH, announced a preliminary update to its previous outlook adj. EBITDA of $52-$62M.Based on greater than expected demand in tissue, strong operating performance, and favorable cost trends, the company now expects adj. EBITDA to be in the range of $71 to $76M.Q4 volumes and shipments are seen exceeding prior guidance and year ago performance."Demand for tissue products increased significantly in November through mid-December. We believe that the recent increase in COVID-19 cases caused a temporary change in consumer buying patterns, which are starting to normalize in later December," president & CEO Arsen Kitch commented.

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Clearwater Paper cheers strong Q4 guidance