Charter Hall Long WALE REIT (CLW) H2 2025 Earnings Call August 05, 2025 07:00 PM ET Speaker0Good morning, everyone, and welcome to the Charter Hall Longwell REIT results presentation for the 2025 financial year. Presenting with me today is Aaron Kent, Head of Longwell REIT Finance. I would like to formally introduce Aaron for those that have not met Aaron yet. This is Aaron's first results for Longwell REIT having joined Charter Hall in July and we welcome Aaron to the team. I'd like to commence today's pre ...

Charter Hall Long WALE REIT 2025 Full Year Results ASX:CLW For personal use only For personal use only Acknowledgement of Country Charter Hall acknowledges the Traditional Custodians of the lands on which we work and gather. We pay our respects to Elders past and present and recognise their continued care and contribution to Country. Charter Hall Long WALE REIT 2025 Full Year Results Agen d a Agen d a Cover: Coles Distribution Centre Perth, WA Left: Charter Hall managed asset, Woodstock Avenue Industrial Ce ...

Clearwater Paper (CLW) Q2 2025 Earnings Call July 29, 2025 05:00 PM ET Speaker0Thank you for standing by. My name is Danica, and I will be your conference operator today. At this time, I would like to welcome everyone to the Clearwater Paper Second Quarter twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer Thank you.I would now like to turn the call over to Sloane Bohlen, Investor Relations. P ...

Financial Performance & Targets - Clearwater reported Net Sales from continuing operations of $391.8 million in Q2 2025[10, 21] - Net income from continuing operations was $4 million[10] - Adjusted EBITDA from continuing operations reached $40 million with a 10% margin[10] - The company is targeting Adjusted EBITDA margins of 13% to 14% across the cycle, with a 40-50% Adjusted EBITDA to free cash flow conversion rate, or $100M+ per year[5] - Q3 2025 Adjusted EBITDA is projected to be $10 to $20 million[14] Market Trends & Outlook - Industry SBS shipments decreased by 3% in Q2 2025 compared to Q1 2025, while unmade SBS orders increased by 14%[8] - Demand growth of approximately 3% is projected for 2026[8] - Imports are forecasted to decrease by approximately 4% in 2025 compared to 2024, and exports are forecasted to decrease by approximately 2%[8] - Industry operating rates were at 83% in Q2 2025, down from 84% in Q2 2024[9] - The company assumes capacity utilization at approximately 85% for FY 2025, with revenue between $1.5 to $1.6 billion[14] Strategic Initiatives & Capital Allocation - Clearwater is focused on reducing its fixed cost structure by $30-40 million in 2025, with 10% reductions in positions[5] - The company repurchased $4 million of shares in Q2 2025, and $18 million since the new $100 million authorization in November 2024[11] - Capital expenditures are expected to be $80-90 million, including large project carryover spend[14] - The target leverage ratio is 1-2x[16]

or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-34146 Form 10-Q (Mark One) ý Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2025 601 West Riverside, Suite 1100 Spokane, WA 99201 (Address of principal executive offices) (Zip Code) (509) 344-5900 CLEARW ...

Group 1 - The article maintains a neutral rating on Clearwater Paper Corporation (NYSE: CLW), indicating that this stance has been accurate compared to peers [1] - The company emphasizes strong oversight and understanding of its paper companies, suggesting a focus on operational transparency and management [1] Group 2 - There is no indication of any stock or derivative positions held by the analyst in the companies mentioned, reflecting an unbiased perspective [2] - The article expresses personal opinions of the author without any compensation from the companies discussed, reinforcing the independence of the analysis [2]

INVESTOR PRESENTATION March 2024 FORWARD LOOKING STATEMENTS Cautionary Statement Regarding Forward Looking Statements This presentation contains, in addition to historical information, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including statements regarding the proposed Augusta manufacturing facility acquisition; the expected timing and impact of the proposed acquisition; the expected benefits, opportunities and future financial ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $30 million for Q1 2025, at the high end of guidance, driven by strong operational performance and increased production and sales volumes, primarily due to the Augusta acquisition [5][22] - Net sales increased by 46% to $378 million compared to Q1 2024, largely attributed to the Augusta acquisition [5][22] - The company experienced a net loss of approximately $6 million from continuing operations, equating to $0.36 per diluted share [22] Business Line Data and Key Metrics Changes - The integration of the Augusta mill is ongoing, with targeted volume and cost synergies expected by the end of 2026 [6] - The company reduced its fixed cost structure by eliminating over 200 positions, representing around 10% of total roles, aiming for $30 to $40 million in savings for 2025 [6][17] Market Data and Key Metrics Changes - Industry shipments increased by 2% in Q1 2025 compared to Q1 2024, with demand projected to grow by 3% to 5% in 2025 [7][8] - Industry utilization rates improved to 88% in Q1 2025 from 84% in Q1 2024, although still below the cross-cycle average of 90% to 95% [9] Company Strategy and Development Direction - The company aims to strengthen its position as a premier independent supplier of paperboard packaging products, focusing on product development in compostable food service products, lightweight folding cartons, and alternative poly-free barrier technologies [12][16] - The company is exploring expansion into additional paperboard substrates, which represent approximately 50% of the paperboard market outside of SBS [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about medium to long-term industry prospects, expecting strong margins and cash flows through the cycle [32] - The company anticipates a continued demand recovery, with internal utilization projected at around 85% and revenue expectations of approximately $1.5 to $1.6 billion for 2025 [26][29] Other Important Information - The company repurchased approximately $11 million of its shares in Q1 2025, totaling about $15 million since the new $100 million share buyback authorization [6][25] - The company is targeting $30 to $40 million in fixed cost reductions for 2025, with expected annual run rate savings of $40 to $50 million [16][28] Q&A Session Summary Question: What is the current status of FPB imports and exposure to tariffs? - Management noted that imports were up in 2024, with forecasts for a 5% decrease in imports and a 1% increase in exports for 2025, suggesting potential benefits from local supply dynamics due to tariffs [38][39] Question: Can you explain the shift in paperboard sales mix and outlook for Q2? - The shift in sales mix was primarily due to the inclusion of Augusta, with expectations for volume growth in Q2 [42][43] Question: What criteria will the company use for evaluating M&A opportunities? - The company will look for strategic fit, quality assets, and the ability to win in the market when considering M&A [46] Question: What are the expected cost savings and synergies from Augusta? - The company expects to see roughly double the amount of cost savings in Q2 compared to Q1, with significant volume synergies already being realized from the Augusta integration [50][51]

First Quarter Earnings Release Materials April 29, 2025 ARSEN KITCH President, Chief Executive Officer and Director SHERRI BAKER Senior Vice President and Chief Financial Officer Forward Looking Statements 2024 Was a Transformational Year For Clearwater Paper Completed acquisition of Augusta paperboard mill for $700M on May 1 Increased total SBS capacity to ~1.4M tons Balanced network to deliver lower landed costs and targeting synergies of $40-50M by end of 2026 Completed sale of tissue business for $1.06 ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $30 million for Q1 2025, at the high end of guidance, driven by strong operational performance and increased production and sales volumes, primarily due to the Augusta acquisition [6][24] - Net sales increased by 46% to $378 million compared to Q1 2024, largely attributed to the Augusta acquisition [6][24] - The company incurred a consolidated net loss of approximately $6 million from continuing operations, equating to $0.36 per diluted share [23] Business Line Data and Key Metrics Changes - The Augusta mill integration has been successful, with targeted volume and cost synergies expected by the end of 2026 [7] - Fixed cost structure was reduced by eliminating over 200 positions, representing around 10% of total roles, aiming for $30 to $40 million in savings for 2025 [7][18] Market Data and Key Metrics Changes - Industry shipments increased by 2% in Q1 2025 compared to Q1 2024, with demand projected to grow by 3% to 5% in 2025 [8][9] - Industry utilization rates improved to 88% in Q1 2025 from 84% in Q1 2024, but remain below the cross-cycle average of 90% to 95% [10] Company Strategy and Development Direction - The company aims to strengthen its position as a premier independent supplier of paperboard packaging products, investing in product development across three categories: compostable food service products, lightweight folding carton products, and alternative poly-free barrier technologies [13][14][15] - The company is exploring expansion into additional paperboard substrates, which make up approximately 50% of the paperboard market outside of SBS [16] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about medium to long-term industry prospects, expecting strong margins and cash flows through the cycle [34] - The company anticipates continued demand recovery, with internal utilization projected at around 85% and revenue expectations of approximately $1.5 to $1.6 billion for 2025 [29] Other Important Information - The company repurchased approximately $11 million of its shares in Q1 2025, totaling about $15 million since the new $100 million share buyback authorization [7][26] - The company is targeting a reduction in SG&A as a percentage of sales to 6% to 7% by year-end 2025 [25] Q&A Session Summary Question: What is the sense of what's happening with FPB imports recently? - Management noted that imports were up in 2024, with forecasts for a 5% decrease in imports and a 1% increase in exports for 2025 [38][39] Question: Can you clarify the geographic split of the $20 million to $25 million purchases from outside the US and Canada? - Approximately $80 million of imports are from Canada, with the remaining $20 million from other parts of the world, including potential exposure to China [40][41] Question: What are the criteria for evaluating M&A opportunities for expanding product offerings? - The company seeks strategic fit, quality assets, and a belief in the ability to win in the market when considering M&A [46][47] Question: What kind of costs are associated with the paper machine upgrades for lightweight folding carton products? - Upgrades will be on existing machines, with capital fitting within the previously stated capital range, focusing on mix shift rather than incremental revenue growth [48] Question: What is the expected impact of cost savings in Q2? - Management expects to see roughly double the amount of savings in Q2 compared to Q1, with incremental benefits ramping through the year [51]