Filing Flows › Clearwater Paper (CLW) › Q3 2025
Clearwater Paper (CLW) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Clearwater Paper (CLW) reported revenue of $399M for the third quarter 2025 (Q3 2025), +1% from a year earlier and +2% from the quarter before. Operating margin was -13.9%, net loss $53.3M (13.4% of revenue).
Clearwater Paper, Q3 2025: revenue $399M (+1% year over year), operating margin -13.9%, net loss $53.3M, operating cash flow $34.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $399M | +2% | +1% |
| Operating profit | −$55.4M | -665% | — |
| Net earnings | −$53.3M | -2074% | — |
| Operating cash flow | $34.0M | — | +110% |
| Free cash flow | $15.7M | — | — |
What changed
Revenue was $399.0M in Q3 2025, up 1% year over year and up 2% from the previous quarter. Foodservice was the largest line at 46% of revenue. Foodservice added $39.9M year over year (up 28%), 700% of the total change. Folding Carton declined 21%.
Operating costs exceeded revenue by $55.4M, an operating margin of -13.9%. The quarter ended with a net loss of $53.3M, after a profit of $2.7M the previous quarter.
Operating cash flow was $34.0M (up 110% year over year). Non-cash charges added back $23.7M of depreciation and amortization and $600K of share-based compensation. Working capital and other items added $63.0M. Capital expenditures of $18.3M left free cash flow of $15.7M.
Questions
What was Clearwater Paper's revenue in the third quarter 2025?
Clearwater Paper (CLW) reported revenue of $399M for the third quarter 2025 (Q3 2025), +1% from a year earlier and +2% from the quarter before.
Was Clearwater Paper profitable in the third quarter 2025?
Operating loss was $55.4M (-13.9% of revenue) and net loss $53.3M.
Source: Clearwater Paper 10-Q on SEC EDGAR.