$CLW

Clearwater Paper Corp

CIK:0001441236|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net Sales	$ 374.8	$ 391.8	$ 735.1	$ 770.0
Costs and expenses:
Cost of sales	385.2	348.8	746.4	690.3
Selling, General and Administrative Expense	21.1	26.1	41.7	55.0
Other operating charges, net	(7.5)	7.1	(18.7)	18.9
Total operating costs and expenses	398.7	382.1	769.4	764.2
Income (loss) from continuing operations	(23.9)	9.8	(34.3)	5.8
Interest Expense, Net	(5.1)	(3.9)	(10.0)	(7.3)
Other Nonoperating Income (Expense)	(1.1)	(0.3)	(2.3)	(0.6)
Total non-operating expense	(6.2)	(4.2)	(12.3)	(7.9)
Income (loss) from continuing operations before income taxes	(30.1)	5.5	(46.6)	(2.1)
Income tax provision (benefit)	(8.6)	1.9	(12.3)	0.1
Income (Loss) from Continuing Operations, Net of Tax	(21.5)	3.6	(34.3)	(2.3)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0.0	(0.9)	0.0	(1.3)
Net Income (loss)	$ (21.5)	$ 2.7	$ (34.3)	$ (3.6)
Net income (loss) per common share (basic and diluted):
Income (Loss) from Continuing Operations, Per Basic Share	$ (1.33)	$ 0.22	$ (2.13)	$ (0.14)
Income (Loss) from Continuing Operations, Per Diluted Share	(1.33)	0.22	(2.13)	(0.14)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share	0	(0.06)	0	(0.08)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	0	(0.06)	0	(0.08)
Basic (in dollars per share)	(1.33)	0.17	(2.13)	(0.22)
Diluted (in dollars per share)	$ (1.33)	$ 0.17	$ (2.13)	$ (0.22)
Weighted Average Number of Shares Outstanding, Basic	16,126	16,220	16,090	16,297
Weighted Average Number of Shares Outstanding, Diluted	16,126	16,241	16,090	16,297

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

Mar. 31, 2025

Jun. 30, 2026

Jun. 30, 2025

Dec. 31, 2025

CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)

$ (21.5)

$ (12.8)

$ 2.7

$ (6.3)

$ (34.3)

$ (3.6)

Depreciation and amortization

46.6

45.0

Equity-based compensation expense

1.7

2.5

2.4

3.5

Deferred Income Taxes and Tax Credits

(11.6)

(0.6)

Defined benefit pension and other postretirement employee benefits

0.8

(0.2)

Amortization of Debt Issuance Costs and Discounts

1.1

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

0.0

(3.1)

Decrease in accounts receivable

24.8

22.6

(Increase) decrease in inventories

19.4

(25.3)

Decrease in other current assets

4.9

4.2

Increase (decrease) in accounts payable and accrued liabilities

17.6

(76.4)

Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item

(2.1)

(0.1)

Net cash flows provided by (used in) operating activities

69.5

(26.7)

CASH FLOWS FROM INVESTING ACTIVITIES

Additions to property, plant and equipment, net 1

(18.7)

(55.6)

Net cash flows used in investing activities

(18.7)

(55.6)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from Issuance of Long-Term Debt

15.0

65.0

Repayments of Debt

(0.2)

(18.3)

Payments for Repurchase of Common Stock

(0.1)

(15.1)

Proceeds from (Payment for) Other Financing Activity

(0.8)

17.8

Net cash flows provided by financing activities

13.9

49.3

Increase (decrease) in cash and cash equivalents

64.6

(33.0)

Cash and cash equivalents at beginning of period

$ 30.7

$ 79.6

30.7

79.6

$ 79.6

Cash and cash equivalents at end of period

$ 95.4

46.7

95.4

46.7

30.7

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

Cash paid for interest, net of amounts capitalized

9.3

7.3

Proceeds from income tax refunds

30.3

Cash paid for income taxes

$ 57.4

Capital Expenditures Incurred but Not yet Paid

$ 15.5

^[1]

$ 13.3

^[1]

$ 7.4

[1]	Capital expenditures of $13.3 million and $15.5 million that have not been paid as of June 30, 2026 and 2025 were excluded from the Statements of Cash Flows.

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 95.4	$ 30.7
Receivables, Net	162.9	195.3
Inventories	260.8	281.7
Other current assets	13.0	18.3
Total current assets	532.0	526.0
Property, Plant, and Equipment, before Accumulated Depreciation, Depletion, and Amortization	2,397.7	2,377.9
Accumulated Depreciation and Amortization, Property, Plant, and Equipment	(1,419.0)	(1,376.1)
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization	978.7	1,001.8
Other assets, net	60.6	60.4
TOTAL ASSETS	1,571.4	1,588.3
Current liabilities:
Long-Term Debt, Current Maturities	0.6	0.6
Accounts Payable and Accrued Liabilities, Current	231.6	215.6
Total current liabilities	232.3	216.2
Long-term debt	360.5	345.5
Liability for pension and other postretirement employee benefits	48.4	49.5
Deferred Income Tax Liabilities, Net	56.9	68.2
Other Liabilities, Noncurrent	79.2	83.7
Total liabilities	777.3	763.0
Stockholders' equity:
Preferred Stock, Value, Issued	$ 0.0	$ 0.0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	16,567,722	16,567,722
Common Stock, Value, Issued	$ 0.0	$ 0.0
Additional paid-in capital	$ 7.3	$ 8.3
Treasury Stock, Common, Shares	(440,598)	(529,385)
Treasury Stock, Value	$ (11.8)	$ (14.8)
Retained earnings	828.0	862.3
Accumulated other comprehensive loss, net of tax	(29.3)	(30.5)
Total stockholders' equity	794.1	825.3
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,571.4	$ 1,588.3