On a consolidated basis, the company reported net sales for the third quarter of $457 million and adjusted EBITDA of $77 million, which represents growth of approximately 3% and 145% respectively over the third quarter of last year.
In the third quarter, we used the free cash flows generated to reduce our net debt by an additional $40 million and we refinanced our 2023 notes with a new 2028 notes.
We shipped 14.5 million cases, which was up around 10% compared to the third quarter of 2019, but down 9% over the second quarter of 2020, as expected.
On our last earnings call, we introduced the ReMagine brand of SBS folding carton paperboard with up to 30% post-consumer recycled fiber that is FDA-compliant for food contact.
Together with our NuVo SBS brand of cup stock with up to 35% post-consumer recycled fiber, we're meeting our customers and consumer preferences for more recycled content in an already highly sustainable form of paper-based packaging without compromising on consumer safety and product quality.
In the third quarter, diluted net income per share was $1.28 per share and adjusted EBITDA was $77 million.
Overall fixed cost leverage from increased production, lower input costs and improved mix positively impacted our tissue business in the third quarter of 2020, relative to the third quarter of 2019.
It is estimated that $1 retail sales grew 34% in the first quarter, 23% in the second quarter and 12% in the third quarter.
During our last quarter's call, we anticipated the IRI panel data to be up in the 10% to 15% range in the third quarter and it was close to 12%.
Our sales in the third quarter were 14.5 million cases, representing a unit decline of 9% versus the second quarter and unit growth of 10% versus prior year as expected.
Our production in the quarter was 15.3 million cases, were down 4% versus the second quarter and up 19% versus prior year.
Our October shipments were around 4 million cases, which is down from an average of 4.8 million cases per month in the third quarter of 2020 and 4.4 million cases per month in the fourth quarter of 2019.
If assumptions around demand as well as largely stable prices and raw material inputs hold, we would anticipate fourth quarter adjusted EBITDA to be in the range of $52 million to $62 million.
Interest expense between $46 million and $48 million, which is a slight decrease to the past expectations due to debt repayments.
Depreciation is expected to be between $109 million and $112 million.
Capital expenditures are trending toward $45 million and we still do not expect to be a net cash taxpayer in 2020.
Planned major outage expenses are expected to reduce our earnings in 2021 compared to 2020 by $25 million to $30 million.
We've updated this guidance on slide 22, which represents a slight increase relative to prior guidance of $23 million to $27 million.
Based on third-party pulp forecast, we are anticipating around a $50 per ton increase in pulp.
As a reminder, we purchased approximately 300,000 tons of pulp each year.
Capex is expected to trend closer to our historical averages of approximately $50 million.
We utilized approximately $40 million of free cash flow to reduce our net debt, which included a $40 million voluntary prepayment of our term loans and our liquidity was $277 million.
In the quarter, we refinanced our 2023 notes with a new 2028 note maturity, providing approximately 5.5 additional years of tenure at a rate we deemed to be attractive at 4.75%.
Private brand tissue share in the US rose to over 30% in 2019, up from 18% in 2011.
Overall, our large capital investments are behind us and we're prioritizing cash flows to reduce debt, as we demonstrated in the third quarter with a net debt reduction of approximately $40 million, bringing our net reduction thus far in 2020 to over $140 million.

Summary:
On a consolidated basis, the company reported net sales for the third quarter of $457 million and adjusted EBITDA of $77 million, which represents growth of approximately 3% and 145% respectively over the third quarter of last year.
In the third quarter, diluted net income per share was $1.28 per share and adjusted EBITDA was $77 million.
Overall fixed cost leverage from increased production, lower input costs and improved mix positively impacted our tissue business in the third quarter of 2020, relative to the third quarter of 2019.