Clearwater Paper Corp income statement
In fiscal 2025, Clearwater Paper Corp reported revenue of $1.56bn, up 12.4% on the year before, operating income of −$42.1m (a -2.7% margin) and net income of −$18.6m, or −$1.15 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,250 | 1,373 | 1,928 | 1,874 | 1,890 | 1,967 | 1,752 | 1,735 | 1,730 | 1,724 | 1,762 | 1,869 | 1,773 | 1,195 | 1,136 | 1,384 | 1,555 | 1,506 |
| Cost of revenue | 1,052 | 1,174 | 1,703 | 1,608 | 1,671 | 1,709 | 1,513 | 1,494 | 1,521 | 1,537 | 1,597 | 1,574 | 1,590 | 983 | 935 | 1,308 | 1,440 | 1,479 |
| Gross profit | 198 | 199 | 225 | 266 | 218 | 258 | 240 | 241 | 209 | 188 | 165 | 294 | 183 | 213 | 201 | 76 | 116 | 27 |
| Selling, general and administrative | 71 | 100 | 110 | 121 | 119 | 130 | 116 | 128 | 121 | 108 | 113 | 122 | 113 | 110 | 119 | 117 | 101 | 83 |
| Operating income | — | 99 | 115 | 145 | 99 | 80 | 124 | 115 | 71 | −98 | 45 | 158 | 12 | 99 | 78 | −65 | −42 | −24 |
| Interest expense | — | — | — | — | — | — | — | — | — | 40 | 50 | 44 | 36 | 12 | 12 | 32 | 18 | 21 |
| Income before tax | 276 | 76 | 71 | 112 | 38 | 16 | 92 | 81 | 41 | −134 | −8 | — | — | — | — | — | — | — |
| Income tax | 93 | 2 | 31 | 47 | −69 | 19 | 37 | 31 | −56 | 10 | −2 | 21 | −8 | 29 | 17 | −27 | −7 | −16 |
| Net income | 182 | 74 | 40 | 64 | 107 | −2 | 56 | 50 | 97 | −144 | −6 | 77 | −28 | 46 | 108 | 196 | −19 | 2 |
| Diluted EPS | $7.75 | $3.12 | $1.66 | $2.72 | $4.80 | −$0.11 | $2.97 | $2.90 | $5.88 | −$8.72 | −$0.34 | $4.61 | −$1.67 | $2.68 | $6.30 | $11.70 | −$1.15 | $0.15 |
| Diluted shares (average) | 24m | 24m | 24m | 24m | 22m | 20m | 19m | 17m | 17m | 16m | 17m | 17m | 17m | 17m | 17m | 17m | 16m | 16m |
| EBITDA | — | 146 | 192 | 225 | 190 | 170 | 208 | 206 | 176 | 4 | 161 | 269 | 117 | 203 | 177 | 35 | 50 | 69 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 387 | 378 | 392 | 399 | 386 | 360 | 375 | 385 |
| Cost of revenue | 372 | 342 | 349 | 380 | 369 | 361 | 385 | 364 |
| Gross profit | 15 | 37 | 43 | 19 | 17 | −1 | −10 | 21 |
| Selling, general and administrative | 27 | 29 | 26 | 25 | 21 | 21 | 21 | 20 |
| Operating income | −16 | −4 | 10 | −55 | 8 | −10 | −24 | 3 |
| Interest expense | 7 | 3 | 4 | 5 | 6 | 5 | 5 | 5 |
| Income tax | −10 | −2 | 2 | −7 | −1 | −4 | −9 | −3 |
| Net income | 199 | −6 | 3 | −53 | 38 | −13 | −22 | −2 |
| Diluted EPS | $11.91 | −$0.38 | $0.17 | −$3.30 | $2.36 | −$0.80 | −$1.33 | −$0.10 |
| EBITDA | 6 | 18 | 33 | −32 | 31 | 13 | −1 | 26 |
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