Clearwater Seafoods Incorporated announced earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company's sales were CAD 163,597,000 against CAD 189,457,000 a year ago. Adjusted EBITDA was CAD 32,797,000 against CAD 45,158,000 a year ago. Adjusted EBITDA attributable to shareholders was CAD 26,961,000 against CAD 36,795,000 a year ago. Earnings attributable to shareholders were CAD 15,054,000 against CAD 10,847,000 a year ago. Basic and diluted earnings per share were CAD 0.24 against CAD 0.17 a year ago. Adjusted Earnings attributable to shareholders was CAD 8,212,000 against CAD 18,863,000 a year ago. Adjusted earnings per share were CAD 0.13 against CAD 0.3 a year ago. Cash from operations was CAD 49,862,000 against CAD 18,136,000 a year ago. Free cash flows were CAD 36,103,000 against CAD 6,282,000 a year ago.

For the nine months, the company's sales were CAD 446,265,000 against CAD 445,862,000 a year ago. Adjusted EBITDA was CAD 80,106,000 against CAD 91,477,000 a year ago. Adjusted EBITDA attributable to shareholders was CAD 66,309,000 against CAD 73,368,000 a year ago. Earnings attributable to shareholders were CAD 26,715,000 against CAD 35,317,000 a year ago. Basic and diluted earnings per share were CAD 0.42 against CAD 0.57 a year ago. Adjusted Earnings attributable to shareholders was CAD 10,275,000 against CAD 23,483,000 a year ago. Adjusted earnings per share were CAD 0.16 against CAD 0.38 a year ago. Cash from operations was CAD 15,475,000 against cash used in operations of CAD 15,773,000 a year ago. Negative free cash flows were CAD 30,683,000 against CAD 55,181,000 a year ago. Year to date CapEx was CAD 60 million.

For the year 2018, the company expects continued strength in cash from operations. Following the successful completion of a 5 year fleet renewal program in 2017, capital spending is expected to decline by CAD 60 million - CAD 70 million in 2018.