克利尔沃特纸业 2026年季度报告

(Mark One) Quarterly Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934For the quarterly period ended March31, 2026 or Transition Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934 For the transition period fromto Commission File Number: 001-34146 CLEARWATER PAPER CORPORATION (Exact name of registrant as specified in its charter)Delaware 20-3594554(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)601 West Riverside, Suite 30099201Spokane, WA(Address of principal executive offices)(Zip Code)(509) 344-5900(Registrant’s telephone number, including area code)__________________________________ Securities registered pursuant to Section 12(b) of the Act: Trading Symbol(s) Name of each exchange on which registered New York Stock Exchange CLW Common Stock, par value $0.0001 per share Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☒Non-accelerated filerSmallerreporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo FORWARD-LOOKING STATEMENTS Our disclosure and analysis in this report contains, in addition to historical information, certain forward-looking statementswithin the meaning of the Private Securities Litigation Reform Act of 1995, including statements as to our expectations forsecond quarter 2026 operating performance, including maintenance-outage timing, energy costs and expected benefitsfrom our fixed-cost-reduction initiatives; our cost-reduction and restructuring plan, including the amount and timing ofseverance and other related charges; our liquidity and capital resources, including our ability to generate cash flows fromoperations, access borrowing capacity and remain in compliance with financial covenants under our credit agreements;our expected capital expenditures for 2026; our belief that the representation-and-warranty insurance claim related to theAugusta acquisition is meritorious and the extent to which we may recover any losses; our ongoing assessment ofpotential asset dispositions, reorganizations or impairment charges; our expectations regarding labor contract negotiationsat the Lewiston, Idaho facility and related retroactive wage adjustments; our evaluation of macroeconomic factors,including related cost changes in energy, chemicals, pulp and freight; our expectations concerning accounting standards;our expectations with respect to environmental matters, including the PFAS-related litigation involving the Augusta facilityand potential insurance recoveries; and our ability to execute our growth, expansion and strategic initiatives and otherplans described in this report. Words such as “anticipate,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” “may,”and similar expressions are intended to identify such forward-looking statements. These forward-looking statements arebased on management’s current expectations, estimates, assumptions and projections that are subject to change. Ouractual results of operations may differ materially from those expressed or implied by the forward-looking statementscontained in this report. Important factors that could cause or contribute to such differences in operating results includethose risks discussed in Item 1A “Risk Factors” in our 2025 Form 10-K, as well as the following: •competitive pricing pressures for our products, including as a result of capacity additions, demand reduction andthe impact of foreign currency fluctuations on the pricing of products globally;•the loss of, change in price in regard to, or reduction in, orders from a significant customer;•changes in