On top of swinging to a loss in the first quarter, Wausau Paper Corp. (NASDAQ:WPP) also came in short of analyst estimates. Wausau Paper Corporation manufactures, converts, and sells paper and paper products within three main segments: Specialty Products, Printing & Writing, and Towel & Tissue.
Wausau Paper Corp Earnings Cheat Sheet for the First Quarter
Results: Swung to a loss of $1.4 million (3 cents/diluted share) in the quarter. The paper company had net income of $2.9 million or 6 cents per share in the year earlier quarter.
Revenue: Fell 2.7% to $248.9 million YoY.
Actual vs. Wall St. Expectations: WPP fell short of the mean analyst estimate of 5 cents/share.
Quoting Management: Commenting on first-quarter results and the company’s growth initiatives, Thomas J. Howatt, president and CEO said, “First-quarter earnings reflect the impact of early-quarter winter storms on away-from-home demand in particular, and by rising input costs which have accelerated more rapidly than anticipated. A strong late-quarter rebound in Tissue segment order activity provided an encouraging conclusion to the quarter while the on-time and within budget rebuild of our Brainerd machine positions our Paper segment as a low-cost producer in the growing global tape market.”
Key Stats: A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the first quarter of the last fiscal year, which saw revenue rise 7.2%.
WPP’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $15.2 million in the fourth quarter of the last fiscal year, a profit of $13.2 million in the third quarter of the last fiscal year and $5.6 million in the second of the last fiscal year.
Competitors to Watch: Neenah Paper, Inc. (NYSE:NP), International Paper Co. (NYSE:IP), Domtar Corp. (NYSE:UFS), P.H. Glatfelter Company (NYSE:GLT), Verso Paper Corp. (NYSE:VRS), Boise Inc. (NYSE:BZ), UPM-Kymmene Corp. (UPMKY), Clearwater Paper Corp (NYSE:CLW), Schweitzer-Mauduit Intl., Inc. (NYSE:SWM), and Sappi Limited (NYSE:SPP).
Today’s Performance: Shares of WPP are unchanged at $7.50 in after hours trading.