Clearwater Paper cites $70 million benefit from federal tax law

Clearwater Paper Corp. reported improved fourth-quarter and year-end earnings, citing a $70 million benefit from recent changes to federal tax law.

The Spokane-based company reported fourth-quarter earnings of $80.9 million, or $4.88 per share, compared to 2016 fourth-quarter earnings of $9.3 million, or 56 cents per share.

Clearwater finished 2017 on a strong note, said Linda K. Massman, the company’s president and chief executive.

The company finished work on a continuous pulp digester at its mill in Lewiston, and on some automation projects at its warehouses that will allow the company to lower costs for wages and employee benefits.

For the entire year, Clearwater reported net earnings of $97.3 million, or $5.91 per share, compared to 2016 earnings of $49.6 million, or $2.91 per share.