On a consolidated basis, the company reported net sales of $450 million, adjusted net income of $9 million, and adjusted EBIT of $50 million.
And finally, we maintained ample liquidity of $270 million at quarter end and reduce net debt by another $7 million.
Since the beginning of this year, Fastmarkets RISI has reported price increases for the US market that totaled $250 per ton in folding carton and cardstock.
This includes a $50 per ton increase in October for both grades.
The financial impact from this outage to our adjusted EBITDA was $5 million.
In North America, we view tissue demand as being approximately 10 million tons with annual demand growth of 1% to 2%, slightly exceeding population growth.
We ship 12.3 million cases in the third quarter, a 21% increase from the 10.2 million cases shipped in the second quarter.
This was a bit higher than our guidance of 10% to 15% growth, partly driven by the August demand uptick.
In the third quarter 2021, our net income was $2 million, diluted net income per share was $0.11, and adjusted net income per share was $0.55.
The impact of the Neenah closure activities in the quarter was $5.4 million, which was related to severance and related expenses.
Our costs were impacted by $5 million of major maintenance outage expenses, and higher inflation and maintenance expenses.
Our sales have converted products in the third quarter were 12.3 million cases representing a unit decline of 15% versus prior year.
Our production of converted product in the quarter was 11.4 million cases are down 25% versus the prior year.
Please note that we largely exited the away from home tissue segments in the third quarter of this year, which historically represented 3% to 4% of our overall case volume.
Slide 10 outlines our capital structure, our liquidity was $270 million at the end of the third quarter.
During the third quarter, we reduced net debt by $7 million.
We've continued to target the net debt to adjusted EBITDA ratio of 2.5 times, which we expect to achieve by 2023.
But that said, our expectation for the fourth quarter is adjusted EBITDA of $48 million to $56 million.
Let me walk you through the build up to that range from our third quarter adjusted EBITDA $50 million.
Previously announced SBS prices is expected to positively impact us during the quarter by $7 million to $9 million which is helping to offset inflation.
Raw material and freight cost inflation is expected to negatively impact us by $7 million to $12 million.
There are no planned major maintenance outages, which will benefit us, given the $5 million Q3 outage.
We are expected to achieve the full run rate benefit of the Neenah closure, which we previous previously stated as being more than $10 million annualized.
If we take actuals for the first nine months and add our expectations for the first quarter, we expect adjusted EBITDA of $167 million to $175 million for the full year 2021.
We are expecting continued positive impact from previously announced SPS price increases, which are expected to result in year-over-year benefits of $53 million to $55 million.
In our paper board business, planned major maintenance outages are expected to reduce our earnings for 2021 compared to 2020 by $27 million.
Our current view is that our tissue volume decline year-over-year will be above 20%, which is not adjusted for the impact of our exit from the away-from-home business.
In total, from 2020 to 2021, input cost inflation, including pulp, packaging, energy, and chemicals, as well as freight is expected to be $80 million to $85 million relative to our previous estimate of $60 million to $70 million.
In total, the benefit from the Neenah closure is expected to exceed $10 million annually.
Interest expense between $36 million and $38 million; depreciation and amortization between $104 million and $107 million; capital expenditures of approximately $42 million and $47 million, which is lower than our prior expectations; and historical average of around $60 million, excluding extraordinary projects, and our effective tax rate is expected to be 26% to 27%.
Private brand tissue share in the US rose to over 30% recently, up from 18% in 2011.
As Mike mentioned earlier, with this plan, we will achieve our near-term target leverage ratio of 2.5x by 2023.

Summary:
On a consolidated basis, the company reported net sales of $450 million, adjusted net income of $9 million, and adjusted EBIT of $50 million.
In the third quarter 2021, our net income was $2 million, diluted net income per share was $0.11, and adjusted net income per share was $0.55.