Clearwater Paper reported a $2m net loss from continuing operations for the third quarter (Q3) of 2026, down from the $54m deficit posted in the same period last year.
Quarterly net sales decreased 3.5% year-on-year (YoY) to $385m due to low market pricing.
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A downturn in paperboard pricing contributed to the revenue drop, with the paperboard average net selling price falling 4% to $1,111 per ton from $1,160 per ton in Q3 2025.
Sales volumes retreated slightly over the three months, slipping 1% to 322,265 tons compared to 324,198 tons in the previous year’s third quarter.
Despite lower sales, Q3 adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) from continuing operations rose 33.4% to $24m.
The YoY lift in quarterly adjusted EBITDA was driven by the timing of a major maintenance outage at the company’s facility in Lewiston, Idaho.
The shutdown occurred in Q2 2026, whereas in 2025 it took place during Q3.
Weaker sales prices tempered the extent of these operational gains.
Across the first nine months of 2026, net sales reached $1.1bn, down from $1.2bn reported for the same period in 2025.
The company’s nine-month net loss from continuing operations stood at $36m, down from a loss of $56m in the prior-year period.
Adverse conditions from a first-quarter weather event and softer realised sales prices caused the nine-month adjusted EBITDA drop, though higher sales volumes partially cushioned the impact.
Clearwater Paper president and CEO Arsen Kitch said: “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.”
“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.”
