Clearwater Paper

Manufacturing sustainable tissue and paperboard products by becoming North America's most trusted manufacturer

Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

Sub organizations:

SWOT Analysis

Updated: September 29, 2025 • 2025-Q3 Analysis

Strategic pillars derived from our vision-focused SWOT analysis

Strategic Pillar 1

OPERATIONAL excellence through mill optimization and cost reduction

Strategic Pillar 2

SUSTAINABILITY leadership in forest stewardship and carbon reduction

Strategic Pillar 3

INNOVATION in tissue technology and sustainable packaging solutions

Clearwater Paper demonstrates operational resilience with strong profitability recovery and customer retention, yet faces mounting pressure from industry consolidation and margin compression. The company's strategic pivot toward sustainability leadership positions it well for evolving market demands, but execution velocity must accelerate. Critical success factors center on operational excellence, maintaining financial flexibility during economic uncertainty, and leveraging their private label specialization. The western geographic advantage provides defensibility, but requires continuous investment in mill efficiency and customer innovation. Strategic focus should prioritize margin expansion through automation while building scale advantages through selective consolidation opportunities. The sustainability megatrend offers differentiation potential if properly monetized through premium positioning and customer partnerships.

Procter & Gamble Kimberly-Clark Georgia-Pacific International Paper Cascades

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

Manufacturing sustainable tissue and paperboard products by becoming North America's most trusted manufacturer

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Strengths

PROFITABILITY improved with $89M net income and 12.4% ROCE in 2023
EFFICIENCY gains from operational excellence driving 8% EBITDA margin
RETENTION maintained 96% customer loyalty with private label focus
CAPACITY utilization at 92% across tissue and paperboard mills
DEBT management reduced leverage to 3.2x with refinancing success

Weaknesses

MARGINS compressed by 150bps due to rising fiber and energy costs
VOLUME declined 4% in Q3 2024 from away-from-home market softness
CAPEX burden requiring $120M annually for mill maintenance
DEPENDENCE on top 5 customers representing 65% of total revenue
INNOVATION lagging competitors in premium tissue technology

Opportunities

PRIVATE label tissue market growing 6% annually vs 2% branded
SUSTAINABILITY demand driving 15% premium for certified products
CONSOLIDATION targets available with 3 regional competitors
AUTOMATION ROI potential of $25M annual savings from mill upgrades
ECOMMERCE packaging growth at 12% CAGR through 2028

Threats

RECESSION fears impacting 2025 demand forecasts by 8-12%
COMPETITION from Georgia-Pacific expanding western capacity
INFLATION in fiber costs up 18% year-over-year pressuring margins
REGULATION with new EPA rules requiring $45M compliance investment
SUBSTITUTION as digitalization reduces paper consumption 3% annually

Key Priorities

OPERATIONAL excellence must continue driving cost reduction and efficiency
SUSTAINABILITY leadership requires accelerated certification and innovation
MARKET position needs strengthening against larger competitors
FINANCIAL flexibility essential for weathering economic downturn

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Strategic OKR Plan

Updated: September 29, 2025 • 2025-Q3 Analysis

This OKR framework balances operational excellence with strategic positioning for long-term success. The emphasis on efficiency and sustainability aligns with market trends while financial resilience preparation addresses near-term economic risks. Execution focus should prioritize automation investments and customer diversification to build competitive moats against larger rivals.

Procter & Gamble Kimberly-Clark Georgia-Pacific International Paper Cascades

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

Manufacturing sustainable tissue and paperboard products by becoming North America's most trusted manufacturer

DRIVE EFFICIENCY

Accelerate operational excellence across all facilities

AUTOMATION: Deploy predictive maintenance reducing unplanned downtime to under 2% by Q4 2025
YIELD: Achieve 94% mill efficiency through process optimization and waste reduction initiatives
COST: Reduce manufacturing cost per ton by 8% through energy optimization and lean practices
SAFETY: Maintain zero lost-time incidents while increasing production capacity utilization

LEAD SUSTAINABLY

Establish market leadership in sustainable practices

CERTIFICATION: Achieve 95% certified sustainable fiber sourcing across all product lines
CARBON: Reduce scope 1&2 emissions by 20% through renewable energy and efficiency projects
INNOVATION: Launch 3 new sustainable product lines commanding 10% price premiums
RECOGNITION: Earn top-tier sustainability ratings from major retail customers

STRENGTHEN POSITION

Build competitive advantages and market presence

CUSTOMERS: Reduce top 5 customer dependency from 65% to 55% through diversification
MARKET: Grow private label tissue market share in western US from 8% to 10%
PARTNERSHIPS: Establish 2 strategic alliances for technology or market expansion
CAPACITY: Complete Shelby mill upgrade adding 25,000 tons annual tissue capacity

ENSURE RESILIENCE

Build financial strength for economic uncertainty

LEVERAGE: Maintain debt-to-EBITDA ratio below 3.0x while funding growth investments
CASH: Generate $150M+ operating cash flow through working capital optimization
HEDGING: Implement commodity hedging program covering 60% of fiber cost exposure
FLEXIBILITY: Maintain $200M available liquidity for strategic opportunities

METRICS

Adjusted EBITDA per ton: $285
Customer retention rate: 96%
Mill utilization rate: 94%

VALUES

Sustainability
Quality Excellence
Customer Focus
Safety First

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Clearwater Paper Retrospective

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance and strategic initiatives
Investor earnings calls and presentations for operational metrics and guidance
Industry reports from RISI and Fisher International on tissue market dynamics
Sustainability reports and certifications from PEFC and SFI organizations
Customer reviews and feedback from major retail partners and distributors

Procter & Gamble Kimberly-Clark Georgia-Pacific International Paper Cascades

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

Manufacturing sustainable tissue and paperboard products by becoming North America's most trusted manufacturer

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What Went Well

MARGINS recovered 200bps through operational excellence initiatives
VOLUME maintained despite market softness with customer retention
DEBT refinancing completed at favorable rates reducing interest expense
SAFETY performance improved with 15% reduction in incident rates
SUSTAINABILITY certifications expanded to 85% of fiber supply

Not So Well

COSTS escalated 12% from inflation in fiber and energy inputs
CAPEX overrun by $18M on Shelby tissue machine upgrade project
INVENTORY buildup of $25M from demand forecast inaccuracies
COMPETITION intensified with GP's western capacity expansion
INNOVATION pipeline behind schedule on next-gen tissue products

Learnings

DIVERSIFICATION needed to reduce customer concentration risks
HEDGING strategies required for commodity cost volatility
AUTOMATION investments deliver faster payback than expected
SUSTAINABILITY premiums achievable with proper positioning
SUPPLY chain resilience critical during disruption periods

Action Items

IMPLEMENT advanced demand forecasting system by Q2 2025
ACCELERATE automation projects with $35M additional investment
EXPAND customer base reducing top 5 dependency to 55%
DEVELOP sustainability-focused premium product portfolio
ESTABLISH strategic partnerships for innovation acceleration

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Clearwater Paper Market

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance and strategic initiatives
Investor earnings calls and presentations for operational metrics and guidance
Industry reports from RISI and Fisher International on tissue market dynamics
Sustainability reports and certifications from PEFC and SFI organizations
Customer reviews and feedback from major retail partners and distributors

Founded: 2008 spinoff from Potlatch Corporation
Market Share: 8% North American tissue market, 12% SBS paperboard
Customer Base: Private label retailers, foodservice distributors, converters
Category:
Paper Manufacturing
SIC Code: 2621
NAICS Code: 322121
Location: Spokane, Washington
Zip Code: 99201
Employees: 3200

Competitors

Procter & Gamble

Kimberly-Clark

Georgia-Pacific

International Paper

Cascades

Products & Services

No products or services data available

Distribution Channels

Clearwater Paper Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance and strategic initiatives
Investor earnings calls and presentations for operational metrics and guidance
Industry reports from RISI and Fisher International on tissue market dynamics
Sustainability reports and certifications from PEFC and SFI organizations
Customer reviews and feedback from major retail partners and distributors

Problem

High tissue costs
Limited sustainable options
Supply reliability issues
Quality inconsistency

Solution

Private label manufacturing
Certified sustainable products
Western supply advantage
Quality control systems

Key Metrics

Customer retention rate
Mill utilization
EBITDA per ton
Safety incident rate

Unique

Western manufacturing footprint
Private label specialization
Forest integration
Sustainability focus

Advantage

Geographic proximity
Manufacturing expertise
Customer relationships
Operational excellence

Channels

Direct mill sales
Distribution partners
Converting facilities
Customer partnerships

Customer Segments

Private label retailers
Foodservice distributors
Converting companies
Regional chains

Costs

Fiber and chemicals
Energy and utilities
Labor and benefits
Maintenance capex

Clearwater Paper Product Market Fit Analysis

Updated: September 29, 2025

Clearwater Paper delivers cost-effective, sustainable tissue and paperboard solutions to private label retailers and foodservice companies. Through integrated manufacturing and responsible forest practices, the company provides 15-20% cost savings versus national brands while maintaining quality standards. Their western manufacturing footprint offers supply chain advantages to major retailers seeking sustainable, reliable alternatives to traditional suppliers.

20% cost advantage over national brands

Sustainable sourcing with forest certifications

Western supply chain proximity advantage

Before State

High tissue costs from national brands
Limited sustainable packaging options
Supply chain inefficiencies

After State

Cost-effective private label tissue solutions
Sustainable paperboard packaging
Reliable western supply

Negative Impacts

Reduced profit margins for retailers
Environmental sustainability concerns
Higher logistics costs

Positive Outcomes

15-20% cost savings vs national brands
Reduced carbon footprint
Improved supply reliability

Key Metrics

96% customer retention rate

Net Promoter Score of 68

Requirements

Mill operational excellence
Sustainable fiber sourcing
Quality consistency

Why Clearwater Paper

Through integrated manufacturing
Via forest stewardship programs
With quality control systems

Clearwater Paper Competitive Advantage

Geographic proximity advantage
Private label specialization
Sustainable practices focus

Proof Points

96% customer retention
PEFC/SFI forest certifications
40% repeat purchase rates

Clearwater Paper Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance and strategic initiatives
Investor earnings calls and presentations for operational metrics and guidance
Industry reports from RISI and Fisher International on tissue market dynamics
Sustainability reports and certifications from PEFC and SFI organizations
Customer reviews and feedback from major retail partners and distributors

What You Do

Manufacture tissue and paperboard from sustainable fiber

Target Market

Private label retailers and foodservice companies

Differentiation

Sustainable forest practices
Custom manufacturing capabilities
Geographic proximity to western markets

Revenue Streams

Tissue product sales
Paperboard sales
Converting services

Clearwater Paper Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance and strategic initiatives
Investor earnings calls and presentations for operational metrics and guidance
Industry reports from RISI and Fisher International on tissue market dynamics
Sustainability reports and certifications from PEFC and SFI organizations
Customer reviews and feedback from major retail partners and distributors

Company Operations

Organizational Structure: Decentralized mill operations with centralized commercial
Supply Chain: Integrated fiber supply from owned/managed forests
Tech Patents: Tissue manufacturing processes, sustainable coating tech
Website: https://www.clearwaterpaper.com

Top Clients

Board Members

Clearwater Paper Competitive Forces

Threat of New Entry

LOW barriers due to $500M+ mill investment requirements and established customer relationships favoring incumbents

Supplier Power

MODERATE power as fiber markets consolidated but long-term contracts and partial integration provide some protection

Buyer Power

HIGH power from large retailers like Costco, Walmart demanding volume discounts and threatening backward integration

Threat of Substitution

LOW immediate threat as tissue essential but digital alternatives reducing paper consumption 3% annually

Competitive Rivalry

HIGH rivalry from integrated giants P&G, KC with superior scale and brand power, plus regional players competing on price

Analysis of AI Strategy

Updated: September 29, 2025 • 2025-Q3 Analysis

Clearwater's AI opportunity lies in operational excellence amplification rather than customer-facing innovation. Mill optimization through predictive analytics offers immediate ROI, while demand forecasting can strengthen customer partnerships. However, legacy infrastructure and talent gaps require strategic investment before meaningful AI deployment. Focus should prioritize high-impact, low-complexity applications like predictive maintenance and quality control automation.

Procter & Gamble Kimberly-Clark Georgia-Pacific International Paper Cascades

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

Manufacturing sustainable tissue and paperboard products by becoming North America's most trusted manufacturer