Hit by problems on all sides, KapStone reports 59% earnings/share drop

摘要

Hit by lower export prices, two mill outages, and higher wood costs, KapStone Paper and Packaging reported "disappointing" fourth quarter earnings of $0.17/share, down 59% from a year ago, missing analysts' consensus estimates of $0.36/share. "The fourth quarter was particularly disappointing due to December's results," chmn/CEO Roger Stone told analysts. "Seasonally weaker demand resulted in an eight-day market shutdown at our Longview, WA, mill and box plant and product mix deteriorated."