Filing Flows › Clearwater Paper (CLW) › Q2 2026 › vs Q2 2025
Clearwater Paper (CLW) Q2 2026 vs Q2 2025 (year over year)
Clearwater Paper's revenue fell $17.0M (-4%) from $392M in Q2 2025 to $375M in Q2 2026. The biggest changes: Folding Carton −$15.1M (-10%); Foodservice +$6.9M (+4%); Other −$6.0M (-16%).
Clearwater Paper, Q2 2026: revenue $375M (-4% year over year), operating margin -6.4%, net loss $21.5M, operating cash flow $69.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 15.8% | -13.0% | +28.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Foodservice | $173M | $166M | $6.9M | +4% |
| Folding Carton | $132M | $148M | −$15.1M | -10% |
| Sheeting and Distribution | $37.1M | $39.9M | −$2.8M | -7% |
| Other | $32.2M | $38.2M | −$6.0M | -16% |
| Revenue | $375M | $392M | −$17.0M | -4% |
| Income tax benefit | $8.6M | −$1.9M | $10.5M | — |
| Net loss | $21.5M | −$2.7M | $24.2M | — |
| Costs & expenses | $405M | $392M | $13.1M | +3% |
| Operating costs | $399M | $382M | $16.7M | +4% |
| Interest & other, net | $6.2M | $5.2M | $1.0M | +19% |
| Operating cash sources | $90.5M | −$30.9M | $121M | — |
| Depreciation & amortization | $23.2M | $23.0M | $200K | +0.9% |
| Share-based compensation | $1.7M | $2.5M | −$800K | -32% |
| Working capital & other | $65.6M | −$56.4M | $122M | — |
| Net loss absorbed | $21.5M | −$2.7M | $24.2M | — |
| Operating cash flow | $69.0M | −$28.2M | $97.2M | — |
| Free cash flow (OCF − capex) | $59.4M | −$51.1M | $110M | — |
| Capital expenditures | $9.6M | $22.9M | −$13.3M | -58% |
Questions
How much did Clearwater Paper's revenue grow year over year in Q2 2026?
Clearwater Paper's revenue fell $17.0M (-4%) from $392M in Q2 2025 to $375M in Q2 2026.
What drove Clearwater Paper's revenue change in Q2 2026?
Folding Carton −$15.1M (-10%); Foodservice +$6.9M (+4%); Other −$6.0M (-16%).