Clearwater Paper Corporation (CLW) reported earnings for first quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $17.2 million, or $1.02 per share. This compares with $23.8 million, or $1.40 per share, in last year's first quarter.
Excluding items, Clearwater Paper Corporation reported adjusted earnings of $24 million or $1.43 per share for the period.
Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 5.6% to $496.2 million from $525.4 million last year.
Clearwater Paper Corporation earnings at a glance (GAAP) :
-Earnings (Q1): $17.2 Mln. vs. $23.8 Mln. last year.
-EPS (Q1): $1.02 vs. $1.40 last year.
-Revenue (Q1): $496.2 Mln vs. $525.4 Mln last year.
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