Net sales increased 35% to $1,530.0 million in the third quarter of 2018, compared to $1,137.6 million in the prior year period. The $392.4 million increase was driven by $352.7 million of revenue from the SBS mill and foodservice assets, $28.2 million of improved volume/mix related primarily to acquisitions, and $17.6 million of higher pricing. EBITDA for the third quarter of 2018 was $282.7 million, or $98.6 million higher than the third quarter of 2017.
“We are encouraged by our overall progress in the third quarter. Specifically, the integration of the SBS mill and foodservice assets is on track and the pricing to commodity input cost relationship for the CRB and CUK mill and global converting assets turned $6 million positive during the quarter. We announced the Letica Foodservice assets acquisition, which closed on September 30th, and will extend our leading position in the growing North America paperboard-based foodservice market,” said president and CEO Michael Doss.
“Third quarter adjusted EBITDA of $256 million was up $68 million year over year. The SBS mill and foodservice assets generated $63 million of adjusted EBITDA. We are driving improved profitability across these new assets by successfully executing on our synergy plans. While our profitability improved during the quarter, we were impacted by continued commodity input cost inflation pressures, with wood fiber, chemicals, and resins accelerating during the quarter, hurricane related costs, and reliability issues at our SBS paperboard mills.”