Clearwater Paper Swings to $21.5M Q2 Loss on Lower Pricing, Lewiston Outage; Guides Q3 Adj. EBITDA $20–$30M
CLW sits 54% above its 52-week low of $11.73.
Summary
Clearwater Paper reported a Q2 net loss of $21.5 million as lower paperboard prices and a major maintenance outage offset volume growth. The company guided Q3 Adjusted EBITDA of $20–$30 million and full-year revenue of $1.4–$1.5 billion, while restructuring its Cypress Bend facility to cut costs.
Updates
· Reuters — Sales of $375 million slightly beat the $374.8 million consensus; stock closed at $17.22 on July 27, near the median analyst target of $18.
· SEC 10-Q — The 10-Q reports Q2 net sales of $374.8 million, net loss of $21.5 million, and cash and cash equivalents of $95.4 million at June 30, 2026.
Key Events · Earnings and Guidance · CLW
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Q2 Net Loss of $21.5M
Net loss of $21.5 million, or $1.33 per diluted share, compared to net income of $3 million in Q2 2025, driven by a 9% decline in average paperboard pricing and a $22 million planned maintenance outage at the Lewiston mill.
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Adjusted EBITDA Swings to Negative $8M
Adjusted EBITDA from continuing operations was negative $8 million, down from positive $40 million a year ago, as lower market pricing and outage costs more than offset an 8% increase in sales volumes.
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Cypress Bend Restructuring
Restructured the Cypress Bend, Arkansas facility, reducing approximately 20% of roles for expected annual savings of $8–$12 million.
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Net Debt Reduced by $59M
Reduced net debt by $59 million in the quarter to $266.8 million, driven by lower net working capital, tax refunds, and insurance proceeds.
Analysis · CLW · Manufacturing
A sharp reversal from a $3 million profit a year ago, Clearwater Paper posted a $21.5 million net loss for Q2 2026 as a 9% drop in paperboard pricing and a $22 million planned maintenance outage at its Lewiston mill overwhelmed an 8% volume gain. Adjusted EBITDA swung from positive $40 million to negative $8 million. The company also restructured its Cypress Bend facility, cutting about 20% of roles to save $8–$12 million annually, and reduced net debt by $59 million through working capital improvements and insurance proceeds. Management guided Q3 Adjusted EBITDA to $20–$30 million, citing benefits from recent price increases and the absence of major outage costs, but full-year revenue is expected to be $1.4–$1.5 billion with significant carryover price headwinds. The results underscore the cyclical pressure on paperboard markets, though early signs of improving industry operating rates and declining imports offer a potential floor.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 966 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CLW was trading at $18.05 on NYSE in the Manufacturing sector, with a market capitalization of approximately $282.4M. The 52-week trading range was $11.73 to $30.74. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.