Clearwater Paper Corp — Form 8-K
Filed October 26, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Clearwater Paper reported Q3 2026 net loss of $1.6M ($0.10/share) vs. $53.3M loss ($3.30/share) prior year, driven primarily by comparison to prior-year $48M goodwill impairment. Q3 net sales $384.9M (down 3.5% YoY from $399M) due to lower market pricing (down 4% to $1,111/ton), partially offset by $34/ton price improvement sequentially. Adjusted EBITDA $24.4M (6.3% margin) vs. $17.8M in Q3 2025. Company executed full debt refinancing, meaningfully extending maturities to 2031, and reduced net debt $56M YTD through working capital improvements and $17.5M insurance proceeds. Augusta mill operational disruption in late Q3 partially offset by representation and warranty insurance reimbursement.
Why this rating
Quarterly results within guidance; pricing pressure material but offset by cost actions; debt extension positive but leverage 3.2x remains elevated relative to $427.7M market cap; refinancing removes near-term maturity pressure.
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