Clearwater Paper

Q2 FY2026 EarningsQ3 FY26 results presented a mixed performance with a top-line miss but a bottom-line beat on a GAAP basis. Revenue of $385M fell short of the $388M consensus due to lower market pricing, despite a 4% sequential improvement in average selling prices. GAAP EPS of -$0.10 significantly outperformed the -$0.13 expected, aided by $17.5M in RWI insurance proceeds and debt refinancing benefits. However, normalized EPS of -$0.23 missed the -$0.16 estimate, reflecting underlying operational disruptions at the Augusta mill and cost headwinds in transportation.