Clearwater Paper Q2 Loss Widens to $21.5M as Maintenance Outage and Lower Prices Bite

summarizeSummary

Clearwater Paper reported a Q2 net loss of $21.5 million as lower paperboard prices and a major maintenance outage crushed margins, though insurance proceeds and strong cash flow provided some cushion.

check_boxKey Events · Earnings and Guidance · CLW

• Q2 Net Loss of $21.5 Million

  Net loss of $21.5 million, or $1.33 per share, compared to a profit of $2.7 million in Q2 2025. The loss was driven by lower sales prices and higher costs from a planned maintenance outage.

• Adjusted EBITDA Turns Negative

  Adjusted EBITDA from continuing operations was -$8.2 million, down from $39.9 million a year ago, reflecting the severe margin compression.

• Sales Decline on Weaker Pricing

  Net sales fell 4% to $374.8 million, with paperboard prices down 9% per ton. Higher volumes partially offset the price decline.

• Maintenance Outage Drives Cost Surge

  Cost of sales rose 10% to $385.2 million, primarily due to the planned major maintenance outage at the Lewiston, Idaho facility, which increased labor, overhead, and supply chain costs.

auto_awesomeAnalysis · CLW · Manufacturing

A sharp reversal from last year's $2.7 million profit, Clearwater Paper posted a $21.5 million net loss in Q2 2026. The core paperboard business saw sales drop 4% on weaker pricing, while a planned major maintenance outage at the Lewiston, Idaho mill drove a 10% jump in production costs. Adjusted EBITDA from continuing operations turned negative at -$8.2 million, down from $39.9 million in Q2 2025. Partially offsetting the operational hit, the company received $15 million in insurance proceeds related to the Augusta acquisition. Cash flow from operations improved to $69.5 million for the first half, boosted by insurance recoveries and tax refunds, but the underlying earnings deterioration raises concerns about near-term profitability.