The 10-second takeaway
For the quarter ended March 31 (Q1), Clearwater Paper missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share contracted significantly. GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Clearwater Paper tallied revenue of $460.8 million. The three analysts polled by S&P Capital IQ expected revenue of $471.2 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.11. The four earnings estimates compiled by S&P Capital IQ averaged $0.57 per share. Non-GAAP EPS of $0.11 for Q1 were 75% lower than the prior-year quarter's $0.44 per share. GAAP EPS were -$0.04 for Q1 against $0.16 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.1%, 190 basis points worse than the prior-year quarter. Operating margin was 2.7%, 290 basis points worse than the prior-year quarter. Net margin was -0.2%, 100 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $496.3 million. On the bottom line, the average EPS estimate is $0.98.
Next year's average estimate for revenue is $1.99 billion. The average EPS estimate is $3.46.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 59 members out of 70 rating the stock outperform, and 11 members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 19 give Clearwater Paper a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Clearwater Paper is outperform, with an average price target of $58.00.
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