# Clearwater Paper Corp: overview

CLW · NYSE · CIK 1441236 · [Materials](/sectors/materials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/clw.md) · [Financials](/companies/clw/financials.md) · [Filings](/companies/clw/filings.md) · [Insiders](/companies/clw/insiders.md)

Latest reported revenue: [$384.9m](/filings/0001628280-26-067282.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 26, 2026 (XBRL us-gaap:Revenues, accession 0001628280-26-067282).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [387](/filings/0001504337-25-000005.md) | [378](/filings/0001441236-26-000025.md) | [392](/filings/0001628280-26-050159.md) | [399](/filings/0001628280-26-067282.md) | [386 d](/filings/0001441236-26-000007.md) | [360](/filings/0001441236-26-000025.md) | [375](/filings/0001628280-26-050159.md) | [385](/filings/0001628280-26-067282.md) |
| Gross margin | % | [3.8%](/filings/0001504337-25-000005.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(4.0%) d](/filings/0001441236-26-000007.md) | [(1.1%)](/filings/0001441236-26-000025.md) | [2.5%](/filings/0001628280-26-050159.md) | [(13.9%)](/filings/0001628280-26-067282.md) | [1.9% d](/filings/0001441236-26-000007.md) | [(2.9%)](/filings/0001441236-26-000025.md) | [(6.4%)](/filings/0001628280-26-050159.md) | [0.6%](/filings/0001628280-26-067282.md) |
| Net margin | % | [51.4%](/filings/0001504337-25-000005.md) | [(1.7%)](/filings/0001628280-26-067282.md) | [0.7%](/filings/0001628280-26-067282.md) | [(13.4%)](/filings/0001628280-26-067282.md) | [9.9% d](/filings/0001441236-26-000007.md) | [(3.6%)](/filings/0001628280-26-067282.md) | [(5.7%)](/filings/0001628280-26-067282.md) | [(0.4%)](/filings/0001628280-26-067282.md) |
| Diluted EPS | $ per share | [11.91](/filings/0001504337-25-000005.md) | [(0.38)](/filings/0001441236-26-000025.md) | [0.17](/filings/0001628280-26-050159.md) | [(3.30)](/filings/0001628280-26-067282.md) | not reported | [(0.80)](/filings/0001441236-26-000025.md) | [(1.33)](/filings/0001628280-26-050159.md) | [(0.10)](/filings/0001628280-26-067282.md) |
| Free cash flow | $m | [(68.1) d](/filings/0001441236-26-000007.md) | [(31.2)](/filings/0001441236-26-000025.md) | [(51.1) d](/filings/0001628280-26-050159.md) | [15.7 d](/filings/0001628280-26-067282.md) | [(9.9) d](/filings/0001441236-26-000007.md) | [(8.6)](/filings/0001441236-26-000025.md) | [59.4 d](/filings/0001628280-26-050159.md) | [15.9 d](/filings/0001628280-26-067282.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,773](/filings/0001504337-24-000010.md) | [1,195](/filings/0001504337-25-000005.md) | [1,136](/filings/0001441236-26-000007.md) | [1,384](/filings/0001441236-26-000007.md) | [1,555](/filings/0001441236-26-000007.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [0.7%](/filings/0001504337-24-000010.md) | [8.3%](/filings/0001504337-25-000005.md) | [6.9%](/filings/0001441236-26-000007.md) | [(4.7%)](/filings/0001441236-26-000007.md) | [(2.7%)](/filings/0001441236-26-000007.md) |
| Net margin | % | [(1.6%)](/filings/0001504337-24-000010.md) | [3.8%](/filings/0001504337-25-000005.md) | [9.5%](/filings/0001441236-26-000007.md) | [14.2%](/filings/0001441236-26-000007.md) | [(1.2%)](/filings/0001441236-26-000007.md) |
| Diluted EPS | $ per share | [(1.67)](/filings/0001504337-24-000010.md) | [2.68](/filings/0001504337-25-000005.md) | [6.30](/filings/0001441236-26-000007.md) | [11.70](/filings/0001441236-26-000007.md) | [(1.15)](/filings/0001441236-26-000007.md) |
| Free cash flow | $m | [58.0](/filings/0001504337-24-000010.md) | [117](/filings/0001504337-25-000005.md) | [117](/filings/0001441236-26-000007.md) | [(55.2)](/filings/0001441236-26-000007.md) | [(76.5)](/filings/0001441236-26-000007.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/clw/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [SOUTHEASTERN ASSET MANAGEMENT INC/TN/](/funds/807985.md) | 2026-06-30 | $24.1m | 1,539,556 |  | Added +14,065 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $19.8m | 1,262,006 |  | Added +41,313 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $16.7m | 1,062,406 |  | Reduced −223,296 |
| [GATE CITY CAPITAL MANAGEMENT, LLC](/funds/1705447.md) | 2026-06-30 | $14.7m | 938,496 |  | New +938,496 |
| [READYSTATE ASSET MANAGEMENT LP](/funds/1900923.md) | 2026-06-30 | $12.3m | 781,384 |  | Unchanged |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $10.9m | 694,944 |  | Added +14,554 |
| [Parallax Volatility Advisers, L.P.](/funds/1521001.md) | 2026-06-30 | $8.1m | 515,000 | Put | New +515,000 |
| [JPMORGAN CHASE & CO](/funds/19617.md) | 2026-06-30 | $7.3m | 453,652 |  | Added +155,103 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $6.6m | 420,773 |  | Added +242,479 |
| [Invenomic Capital Management LP](/funds/1769456.md) | 2026-06-30 | $6.6m | 420,419 |  | Added +116,269 |

## Recent filings

[All 1,072 filings](/companies/clw/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-26 | 16:08 ET | [10-Q](/filings/0001628280-26-067282.md) | Quarterly report, period 2026-09-30 | 0001628280-26-067282 |
| 2026-10-26 | 16:06 ET | [8-K](/filings/0001628280-26-067280.md) | 2.02 Results of operations; 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001628280-26-067280 |
| 2026-09-21 | 06:52 ET | [8-K](/filings/0001193125-26-396048.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.03 New direct financial obligation; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-396048 |
| 2026-07-28 | 16:09 ET | [10-Q](/filings/0001628280-26-050159.md) | Quarterly report, period 2026-06-30 | 0001628280-26-050159 |
| 2026-07-28 | 16:08 ET | [8-K](/filings/0001628280-26-050153.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-050153 |
| 2026-05-12 | 19:34 ET | [8-K](/filings/0001441236-26-000028.md) | 5.02 Departure or appointment of officers or directors; 5.03 Amendment to articles or bylaws; 5.07 Shareholder vote results | 0001441236-26-000028 |
| 2026-04-28 | 16:07 ET | [10-Q](/filings/0001441236-26-000025.md) | Quarterly report, period 2026-03-31 | 0001441236-26-000025 |
| 2026-04-28 | 16:06 ET | [8-K](/filings/0001441236-26-000024.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001441236-26-000024 |
| 2026-03-27 | 12:02 ET | [DEF 14A](/filings/0001441236-26-000018.md) | Proxy statement, period 2026-05-07 | 0001441236-26-000018 |
| 2026-02-18 | 16:09 ET | [10-K](/filings/0001441236-26-000007.md) | Annual report, period 2025-12-31 | 0001441236-26-000007 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001441236-26-000007.md), filed Feb 18, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1441236
- Tickers: CLW
- Exchange: NYSE
- SIC code: 2631 Paperboard Mills
- State of incorporation: DE
- Filer category: Accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 26, 2026, 16:23 ET. No prices; not investment advice.