CLW

EX-99.1

2 clw-20260930x8kexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Clearwater Paper Reports Third Quarter 2026 Results

SPOKANE, Wash.--(BUSINESS WIRE)--October 26, 2026 --Clearwater Paper Corporation (NYSE:CLW), a premier independent supplier of bleached paperboard to North American converters today reported financial results for the third quarter ended September 30, 2026.

THIRD QUARTER HIGHLIGHTS

•Net sales of $385 million versus $399 million in the third quarter of 2025, primarily driven by lower market pricing

•Net loss of $2 million, or $0.10 per diluted share versus net loss of $53 million, or $3.30 per diluted share in the third quarter of 2025 with that loss primarily related to a non-cash impairment of goodwill

•Adjusted EBITDA from continuing operations of $24 million versus $18 million in the third quarter of 2025 primarily driven by timing of the Lewiston, Idaho planned major maintenance outage, partly offset by lower market pricing

•Average selling price improved by $34 per ton versus the second quarter of 2026, primarily driven by previously announced price increases and sales mix improvement

•Executed refinancing of all debt, meaningfully extending maturities

•Received $17.5 million in additional representation and warranty insurance proceeds

•Reduced net debt by $56 million year to date, driven by net working capital reductions, tax refunds and additional representation and warranty insurance proceeds

"We delivered strong commercial execution during the quarter, with average selling prices increasing versus the second quarter. We successfully implemented our first announced price increase and continue to make meaningful progress on implementing the second increase," said Arsen Kitch, president and chief executive officer. "Our volumes and costs were negatively affected by a significant operational disruption at our Augusta mill late in the third quarter, with the impact being largely offset by a portion of RWI settlements. Operational Issues have continued into October, but we are making progress getting the mill back to normal operating conditions."

OVERALL RESULTS

For the third quarter of 2026, Clearwater Paper reported net sales of $385 million, compared to $399 million in the third quarter of 2025. The company reported a net loss from continuing operations of $2 million, or $0.10 per diluted share for the quarter, compared to net loss from continuing operations of $54 million, or $3.34 per diluted share, in the prior‑year period. Adjusted EBITDA from continuing operations was $24 million for the third quarter of 2026 compared to $18 million in the third quarter of 2025. The increase in Adjusted EBITDA from continuing operations was due to the timing of our major maintenance outage at our Lewiston facility offset by reduced sales prices. The Lewiston outage occurred in the third quarter of 2025 as compared to the second quarter of 2026.

For the nine months of 2026, Clearwater Paper reported net sales of $1.1 billion compared to $1.2 billion for the nine months of 2025. The company reported a net loss from continuing operations of $36 million, or $2.23 per diluted share for the nine months of 2026, compared to a net loss from continuing operations of $56 million, or $3.47 per diluted share, in the prior‑year period. Adjusted EBITDA from continuing operations was $18 million for the nine months of 2026 compared to $87 million in the first nine months of 2025. The decrease in Adjusted EBITDA from continuing operations was due to the impact of a weather event during the first quarter of 2026 and reduced sales prices offset by higher sales volumes.

Sales volumes and prices:

•Sales volumes were 322,265 tons in the third quarter of 2026, a decrease of 1% compared to 324,198 tons in the third quarter of 2025. Sales volumes were 953,906 tons in the first nine months of 2026, an increase of 4% compared to 918,399 tons in the first nine months of 2025.

•Paperboard average net selling price decreased 4% to $1,111 per ton for the third quarter of 2026, compared to $1,160 per ton in the third quarter of 2025. Paperboard average net selling price decreased 7% to $1,096 per ton for the first nine months of 2026, compared to $1,176 per ton in the first nine months of 2025.

COMPANY OUTLOOK

“We are optimistic about a continued recovery in SBS industry conditions, even as we face cost headwinds in transportation and chemicals. RISI is forecasting improved pricing later this quarter and into next year, which should help us recover some of the cost increases that we’ve faced and put us on the path towards our cross-cycle Adjusted EBITDA margins and cash flows,” concluded Kitch.

WEBCAST INFORMATION

Clearwater Paper Corporation will discuss these results during an earnings conference call that begins at 2:00 p.m. Pacific Time on October 26, 2026. A live webcast and accompanying supplemental information will be available on the company's website at www.clearwaterpaper.com. A replay of th

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EX-99.1

2 clw-20260331x8kexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Clearwater Paper Reports First Quarter 2026 Results

SPOKANE, Wash.--(BUSINESS WIRE)--April 28, 2026 --Clearwater Paper Corporation (NYSE:CLW), a premier independent supplier of bleached paperboard to North American converters today reported financial results for the first quarter ended March 31, 2026.

FIRST QUARTER HIGHLIGHTS

•Net sales of $360 million versus $378 million in the first quarter of 2025, with volume up 5%, offset by lower market pricing

•Net loss of $13 million, or $0.80 per diluted share versus net loss of $6 million, or $0.38 per diluted share in the first quarter of 2025

•Adjusted EBITDA from continuing operations of $2 million versus $30 million in the first quarter of 2025 primarily due to lower market pricing and severe weather impacts

•Launched VeloraTM a new lightweight folding carton paperboard engineered to deliver dependable performance, higher yield and strong value for everyday packaging

•Announced restructuring of Cypress Bend, Arkansas facility in April, resulting in reduction of approximately 20% of roles and expected annual savings of $8 to $12 million

•Received $17 million in additional representation and warranty insurance proceeds, pursuing claims against $50 million of remaining policy limit

“We delivered solid operational execution during the first quarter, with our team doing an outstanding job managing through a severe weather event in the Southeast. We also delivered healthy volume growth that outpaced the market even as we navigated a challenging industry environment,” said Arsen Kitch, president and chief executive officer.

OVERALL RESULTS

For the first quarter of 2026, Clearwater Paper reported net sales of $360 million, compared to $378 million in the first quarter of 2025. The company reported a net loss from continuing operations of $13 million, or $0.80 per diluted share for the quarter, compared to a net loss of $6 million, or $0.36 per diluted share, in the prior‑year period. Adjusted EBITDA from continuing operations was $2 million for the first quarter of 2026 compared to $30 million in the first quarter of 2025.

The increase in net loss was primarily driven by lower pricing and the impact of a weather event during the first quarter of 2026, partially offset by insurance proceeds and cost reductions. The decrease in Adjusted EBITDA primarily reflects lower pricing and weather‑related impacts, partially offset by reduced costs.

Sales volumes and prices:

• Sales volumes were 302,918 tons in the first quarter of 2026, an increase of 5% compared to 289,487 tons in the first quarter of 2025.

• Paperboard average net selling price decreased 7% to $1,101 per ton for the first quarter of 2026, compared to $1,188 per ton in the first quarter of 2025.

COMPANY OUTLOOK

“We are focused on items within our control, namely reducing costs and maintaining share with our strategic customers, while anticipating an improvement in industry conditions. Today’s operating rates and recent increases in input costs are resulting in margins and cash flows that do not support long-term investments in our industry’s capital-intensive assets. We believe that a combination of demand growth, lower imports, and changes in net domestic supply will drive a recovery in the medium term,” concluded Kitch.

WEBCAST INFORMATION

Clearwater Paper Corporation will discuss these results during an earnings conference call that begins at 2:00 p.m. Pacific Time on April 28, 2026. A live webcast and accompanying supplemental information will be available on the company's website. A replay of the conference call will be available on the website beginning at 5:00 p.m. Pacific Time the same day.

ABOUT CLEARWATER PAPER CORPORATION

Clearwater Paper is a premier independent supplier of paperboard packaging products to North American converters. Headquartered in Spokane, Wash., our team produces high-quality paperboard that provides sustainable packaging solutions for consumer goods and food service applications. For additional information, please visit our website at www.clearwaterpaper.com.

USE OF NON-GAAP MEASURES

In this press release, the company presents certain non-GAAP financial information for the first quarter of 2026 and 2025, including adjusted net income (loss) from continuing operations and Adjusted EBITDA from continuing operations. Because these amounts are not in accordance with GAAP, reconciliations to net income (loss) from continuing operations and Adjusted EBITDA from continuing operations as determined in accordance with GAAP are included in the tables at the end of this press release. The company presents these non-GAAP metrics because management believes they assist investors and analysts in comparing the company's performance across reporting periods on a consistent basis by excluding items that the company does not believe are indicative of its core operating performance. In addition, the com