Q2 FY2026 EarningsQ2 FY26 missed consensus estimates across top and bottom-line metrics, with revenue of $460.3M vs. $475.9M expected and a normalized net loss of $76.0M exceeding the anticipated $69.5M loss. Performance was heavily impacted by a $29.0M non-cash inventory impairment, rising European fiber costs, and delayed pulp market recovery. Liquidity remains tight at $191.7M, prompting management to evaluate strategic alternatives to address upcoming debt maturities and strengthen the capital structure.