Filing Flows › Clearwater Paper (CLW) › Q2 2025
Clearwater Paper (CLW) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
Clearwater Paper (CLW) reported revenue of $392M for the second quarter 2025 (Q2 2025), +14% from a year earlier and +4% from the quarter before. Operating margin was 2.5%, net earnings $2.7M (0.7% of revenue).
Clearwater Paper, Q2 2025: revenue $392M (+14% year over year), operating margin 2.5%, net earnings $2.7M, operating cash flow −$28.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $392M | +4% | +14% |
| Operating profit | $9.8M | — | — |
| Net earnings | $2.7M | — | — |
| Operating cash flow | −$28.2M | -1980% | — |
What changed
Revenue was $391.8M in Q2 2025, up 14% year over year and up 4% from the previous quarter. Foodservice was the largest line at 42% of revenue. Foodservice added $31.4M year over year (up 23%), 66% of the total change. Sheeting and Distribution declined 3%.
Operating profit was $9.8M, a 2.5% margin (up 16.1 points year over year). Total costs fell 2% while revenue rose 14%. Net earnings were $2.7M. The effective tax rate was 41.3%.
Operating cash flow was −$28.2M. Non-cash charges added back $23.0M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $56.4M. Capital expenditures of $22.9M exceeded it, leaving free cash flow of −$51.1M.
Questions
What was Clearwater Paper's revenue in the second quarter 2025?
Clearwater Paper (CLW) reported revenue of $392M for the second quarter 2025 (Q2 2025), +14% from a year earlier and +4% from the quarter before.
Was Clearwater Paper profitable in the second quarter 2025?
Operating profit was $9.8M (2.5% of revenue) and net earnings $2.7M.
Source: Clearwater Paper 10-Q on SEC EDGAR.