What is the market's earnings forecast for Clearwater Paper next quarter?

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What is Clearwater Paper's latest dividend and current dividend yield?

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What guidance did Clearwater Paper's management provide for the next earnings period?

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What factors drove the changes in Clearwater Paper's revenue and profit?

- **Q3 EBITDA beat**: $18 million vs. $10-20M guidance, driven by cost savings and volume growth.
- **$50M cost savings**: Exceeding targets, offsetting margin pressure from industry oversupply.
- **CUK project delay**: High return ($50M capex, >20% ROI) on hold due to balance sheet focus.
- **2026 vision**: 13-14% EBITDA margin, $100M+ free cash flow at normalized utilization, $20M+ working capital improvement.
- **Import relief**: 10% European import decline YTD, tariff impact creating domestic supply tailwind.

**【CEO Summary Section】**
- **Adjusted EBITDA of $18 million**: Beat high end of Q3 guidance range of $10-$20 million.
- **Net sales growth of 2%**: Driven by 6% shipment volume increase, offset by lower pricing.
- **$50 million fixed cost savings**: Exceeding original $30-40 million target, supporting margins amid industry oversupply.
- **Major maintenance efficiency**: Lewiston ($24M) and Augusta ($16M) outages executed with improved execution vs. prior year.
- **CUK swing project update**: $50M capital investment with >20% return potential, delayed due to balance sheet focus.

**【CFO Financial Commentary】**
- **Net loss of $54 million**: Driven by $48M non-cash goodwill impairment.
- **Q4 EBITDA guidance of $13-23 million**: Reflects seasonal volume decline and stable input costs.
- **2026 outlook**: 
  - Revenue: $1.45-1.55 billion
  - EBITDA margin: 13-14%
  - Free cash flow: $100+ million at normalized utilization
  - Capex: $65-75 million
  - Working capital improvement: $20 million+ through inventory reduction.
- **Balance sheet strength**: Net leverage 2.7x, $455M liquidity, $2M share buybacks year-to-date.

**【Q&A Highlights】**
- **CUK project timing**: Decision deferred due to leverage target of 1-2x and 2+ year payback period.
- **Import relief progress**: European imports down 10% YTD, tariff impact adding 20-30% import cost.
- **2026 maintenance cadence**: Potential early summer outage at Lewiston to improve execution; details to be shared in Feb.
- **Q4 variability drivers**: Energy costs (weather-dependent), production absorption ($500/ton), and inventory management trade-offs.


Clearwater Paper Corporation (CLW) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CLW

CLW fundamentals

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