Clearwater Paper Corp

Listed Company

CLWCIK 0001441236NYSEAcceleratedPaperboard MillsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.56B

Net Income

$-18.60M

Total Assets

$1.59B

Equity

$825.30M

Shares Out

16.13M

Op. Cash Flow

$12.30M

Business

Clearwater Paper Corp is a manufacturer and supplier of Solid Bleached Sulfate (SBS) paperboard packaging products focused on independent converters. It produces premium SBS paperboard used primarily for folding cartons, food service (including liquid packaging, cups and plates), commercial printing and sells minor amounts of pulp, plus custom sheeting, slitting and cutting services. Its operations are organized around paperboard manufacturing and related services after divesting its consumer tissue business, emphasizing product development and sustainability initiatives. The company sells mainly to North American packaging converters and commercial printers through direct sales and distribution channels.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,555	1,384	1,136	1,195	1,773
Cost of sales	−1,440	−1,308	−935	−983	−1,590
Selling, general and administrative expenses	−101	−117	−119	−110	−113
Other operating charges, net	9	24	3	3	58
Goodwill, Impairment Loss	48	0	0	—	—
Total operating costs and expenses	1,598	1,448	1,058	1,096	1,761
Operating income (loss)	−42	−65	78	99	12
Interest expense, net	−17	−29	−10	−11	−36
Debt retirement costs	0	−9	−3	−500,000	−1
Other Nonoperating Income (Expense)	−1	2	100,000	−6	−10
Nonoperating Income (Expense)	18	37	13	17	—
Income (loss) from continuing operations before income taxes	−60	−101	66	82	−36
Income tax provision	−7	−27	17	29	8
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	53	74	−49	−53	—
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	−4	73	79	−9	—
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	2	307	0	0	—
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation	−36	110	20	−2	—
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	−34	−270	−59	7	—
Net income (loss)	−19	196	108	46	−28
Income (Loss) from Continuing Operations, Per Basic Share	−3.28	−4.41	2.89	3.1	—
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share	2.13	16.11	3.5	−0.39	—
Earnings per share, basic	−1.15	11.7	6.39	2.71	−1.67
Income (Loss) from Continuing Operations, Per Diluted Share	−3.28	−4.41	2.85	3.07	—
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	2.13	16.11	3.45	−0.39	—
Earnings per share, diluted	−1.15	11.7	6.3	2.68	−1.67
Weighted average number of shares outstanding, basic	16	17	17	17	17
Weighted average number of shares outstanding, diluted	16	17	17	17	17

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	31	80	42	54	25
Receivables, net of allowance for current expected credit losses of $1.8 and $1.6 at December 31, 2025 and 2024	195	189	96	189	167
Inventories, net	282	258	161	324	278
Other current assets	18	19	17	20	17
Total current assets	526	545	564	586	487
Property, plant and equipment, net	1,002	1,023	361	1,017	1,082
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	1,376	1,305	1,248	—	—
Intangible Assets, Net (Including Goodwill)	2	53	42	44	—
Other assets, net	58	58	48	100	121
Total assets	1,588	1,679	1,672	1,704	1,690
Current portion of long-term debt	600,000	600,000	0	900,000	2
Accounts Payable and Accrued Liabilities	216	320	—	—	—
Total current liabilities	216	320	286	312	254
Long-term debt	346	282	440	565	638
Liability for pension and other postretirement employee benefits	50	53	55	58	74
Deferred tax liabilities	68	90	—	—	—
Other Liabilities, Noncurrent	84	81	—	—	—
Total liabilities	763	825	1,003	1,132	1,178
Preferred stock, par value $$0.0001 per share, 5,000,000 shares authorized, no shares issued	0	0	0	0	0
Common stock, par value $0.0001 per share, 100,000,000 shares authorized, 16,567,722 issued	0	0	0	0	0
Additional paid-in capital	8	12	15	29	24
Treasury Stock, Value	15	3	0	—	—
Retained earnings	862	881	685	577	531
Accumulated other comprehensive loss, net of tax	−31	−35	−31	−33	−43
Stockholders' Equity Attributable to Parent, Total	825	855	669	572	512
Total liabilities and stockholders' equity	1,588	1,679	1,672	1,704	1,690

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	92	100	99	103	105
Equity-based compensation expense	4	6	10	13	9
Deferred Income Taxes and Tax Credits	−23	39	−15	−8	−10
Defined benefit pension and other postretirement employee benefits	100,000	−4	−2	3	7
Proceeds from Divestiture of Businesses	−2	−307	0	0	—
Amortization of deferred debt costs and debt retirement	2	12	4	2	3
Gain (Loss) on Sale of Assets and Asset Impairment Charges	−8	−2	−2	—	—
(Increase) in accounts receivable	−2	−87	−1	−17	−5
(Increase) decrease in inventories	−24	12	4	−46	−20
(Increase) decrease in other current assets	1	−3	800,000	−2	−2
Increase (Decrease) in Accounts Payable and Accrued Liabilities	−75	99	−21	49	2
Other, net	100,000	−3	3	2	−200,000
Net cash flows provided by operating activities	12	61	191	150	96
Payments to Acquire Property, Plant, and Equipment	−89	−117	−74	−34	−38
Payments to Acquire Businesses, Gross	0	−708	0	0	—
Adjustment to proceeds from business divestiture	−12	—	—	—	—
Proceeds (payments) from business divestiture	—	993	0	0	13
Net cash flows provided by (used in) investing activities	−100	168	−74	−34	−25
Borrowings on long-term debt	82	753	222	0	0
Repayments of long-term debt	−19	−931	−326	−81	−81
Payment, Tax Withholding, Share-based Payment Arrangement	−2	−4	−5	−3	−2
Payments for Repurchase of Common Stock	−17	−10	−18	−5	0
Payments for debt issuance costs	0	−6	−3	−900,000	0
Other, net	−5	6	0	800,000	700,000
Net cash flows provided by (used in) financing activities	39	−191	−129	−89	−82
Increase (decrease) in cash and cash equivalents	−49	38	−12	28	−11
Cash paid for interest, net of amounts capitalized	16	52	38	33	36
Cash paid for income taxes, net of refunds received	54	19	17	43	−8
Capital Expenditures Incurred but Not yet Paid	7	26	13	16	11

Filings

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