Recent Updates — CLW
Clearwater Paper reported a third-quarter net loss of $2 million, or $0.10 per diluted share, compared to a $53 million loss in the prior-year period. Net sales fell 3% to $385 million due to lower market pricing, while adjusted EBITDA from continuing operations rose to $24 million from $18 million, aided by the timing of maintenance at the Lewiston facility and insurance proceeds. The company also announced that Senior Vice President and Chief Financial Officer Sherri Baker will resign effective November 13, 2026. Clearwater Paper is a premier independent supplier of bleached paperboard to North American converters.
On September 18, 2026, Clearwater Paper Corp entered into a Second Amended and Restated Credit Agreement with AgWest Farm Credit to refinance existing debt. The new facility includes a $275 million term loan fully drawn at closing and a $200 million revolving credit facility with $15 million drawn. Proceeds were used to redeem in full the outstanding $275 million aggregate principal amount of 4.750% Senior Notes due 2028 on October 3, 2026, and terminate the previous ABL Credit Agreement. The new credit agreement matures on September 18, 2031, extending the company's debt maturity profile.
Clearwater Paper Corporation reported a net loss of $21.5 million, or $1.33 per diluted share, for the second quarter ended June 30, 2026, compared to a net income of $2.7 million in the prior-year period. Net sales declined 4% to $375 million, driven by a 9% decrease in average paperboard selling prices to $1,077 per ton, partially offset by an 8% increase in sales volumes to 328,722 tons. Adjusted EBITDA from continuing operations turned negative at $8.2 million, down from $39.9 million in Q2 2025, primarily due to lower market pricing and the timing of a $22 million major maintenance outage at the Lewiston, Idaho facility. The company completed a restructuring at its Cypress Bend, Arkansas facility, reducing roles by approximately 20% with expected annual savings of $8 to $12 million. Net debt decreased by $59 million to $266.8 million. Clearwater Paper Corporation operates in the paperboard manufacturing industry, supplying bleached paperboard packaging products to North American converters.