Filing Flows › Clearwater Paper (CLW) › Q3 2026 › vs Q3 2025
Clearwater Paper (CLW) Q3 2026 vs Q3 2025 (year over year)
Clearwater Paper's revenue fell $14.1M (-4%) from $399M in Q3 2025 to $385M in Q3 2026. The biggest changes: Foodservice −$19.4M (-11%); Other +$4.6M (+13%); Folding Carton +$500K (+0.3%).
Clearwater Paper, Q3 2026: revenue $385M (-4% year over year), operating margin 0.6%, net loss $1.6M, operating cash flow $30.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 4.1% | 3.9% | +0.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Foodservice | $163M | $182M | −$19.4M | -11% |
| Folding Carton | $144M | $143M | $500K | +0.3% |
| Other | $40.7M | $36.1M | $4.6M | +13% |
| Sheeting and Distribution | $38.0M | $37.9M | $100K | +0.3% |
| Revenue | $385M | $399M | −$14.1M | -4% |
| Income tax benefit | $2.9M | $6.5M | −$3.6M | -55% |
| Net loss | $1.6M | $53.3M | −$51.7M | -97% |
| Costs & expenses | $389M | $459M | −$69.4M | -15% |
| Operating costs | $382M | $454M | −$72.0M | -16% |
| Interest & other, net | $7.0M | $4.4M | $2.6M | +59% |
| Operating cash sources | $32.2M | $87.3M | −$55.1M | -63% |
| Depreciation & amortization | $23.3M | $23.7M | −$400K | -2% |
| Share-based compensation | $2.6M | $600K | $2.0M | +333% |
| Working capital & other | $6.3M | $63.0M | −$56.7M | -90% |
| Net loss absorbed | $1.6M | $53.3M | −$51.7M | -97% |
| Operating cash flow | $30.6M | $34.0M | −$3.4M | -10% |
| Free cash flow (OCF − capex) | $15.9M | $15.7M | $200K | +1% |
| Capital expenditures | $14.7M | $18.3M | −$3.6M | -20% |
Questions
How much did Clearwater Paper's revenue grow year over year in Q3 2026?
Clearwater Paper's revenue fell $14.1M (-4%) from $399M in Q3 2025 to $385M in Q3 2026.
What drove Clearwater Paper's revenue change in Q3 2026?
Foodservice −$19.4M (-11%); Other +$4.6M (+13%); Folding Carton +$500K (+0.3%).