CLW
Clearwater Paper Corporation17.97
+0.34+1.93%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
289.39MP/E (TTM)
-Basic EPS (TTM)
-4.61Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
Clearwater Paper's Q3 2025 net sales edged up 1% year-over-year to $399.0M, driven by higher paperboard volumes, yet gross margin slipped to 5% from 8% amid maintenance outage timing and softer pricing. The quarter took a hit from a $48.0M full goodwill impairment tied to market softness and excess capacity, flipping operating loss to $55.4M from $1.2M last year, while net loss from continuing operations widened to $53.9M, mainly from that charge and higher interest. Year-to-date, sales surged 17% to $1,169.0M on Augusta integration, with Adjusted EBITDA jumping to $87.4M from $26.6M, reflecting cost reductions post-tissue sale. Cash dipped to $34.4M after $73.9M capex and $17.2M stock repurchases, but $213.9M ABL availability cushions liquidity against debt of $336.1M. The Augusta acquisition, closed May 2024 for $708.2M cash, added $610.3M in property and $12.9M goodwill before impairment. Competitive pricing pressures loom large in this softening paperboard market.
8-K
Q3 sales up, but impairment stings
Clearwater Paper posted Q3 net sales of $399 million, up 1% from last year on 3% higher shipment volumes, but recorded a $54 million net loss from continuing operations due to a $48 million non-cash goodwill impairment. Adjusted EBITDA from continuing operations dipped to $18 million from $21 million, hit by lower pricing and maintenance outage timing, yet bolstered by cost cuts on track for nearly $50 million savings in 2025. Leadership shuffle: Steve Bowden shifts to Senior VP, Commercial on January 1, 2026. Oversupplied SBS market pressures persist, but assets position for long-term cash flows.
10-Q
Q2 FY2025 results
Clearwater Paper's Q2 FY2025 results showed net sales climbing 14% year-over-year to $391.8M, fueled by the Augusta acquisition's volume boost, though prices dipped 2.8% per ton; gross margin swung to $43.0M from a $2.0M loss, thanks to maintenance timing and cost cuts. Operating income hit $9.8M, up from a $46.9M loss, while diluted EPS from continuing operations reached $0.22 versus $(2.50), reconciling neatly with 16.2M shares. The $708.2M Augusta deal, closed May 2024, added $610.3M in property and $12.9M goodwill, with integration costs at $0.9M this quarter. Cash dipped to $46.7M amid $26.7M operating outflow, but $245.1M ABL availability covers the $329.1M debt load, including 4.75% notes due 2028. Free cash flow not disclosed in the 10-Q. Acquisitions like Augusta sharpen focus, yet competitive pricing pressures could squeeze margins further.
8-K
Q2 sales surge to $392M
Clearwater Paper posted Q2 net sales of $392 million, up 14% from last year, fueled by higher volumes from the Augusta mill acquisition on May 1, 2024. Net income from continuing operations swung to $4 million from a $42 million loss, with Adjusted EBITDA jumping to $40 million versus negative $9 million, thanks to cost reductions and outage timing, despite a 3% price drop. The company repurchased $4 million in shares. Yet, industry oversupply lingers.
8-K
Urlick resigns from Clearwater Paper
Clearwater Paper's Senior Vice President of Commercial, Michael Urlick, announced his resignation on May 16, 2025, effective June 13, 2025, to chase a new opportunity. This leadership shift leaves a gap in commercial operations, with no interim successor named yet. The company faces a smooth transition, but details on replacement remain undisclosed.
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