Glatfelter Corporation ( (GLT) ) has realeased its Q3 earnings. Here is a breakdown of the information Glatfelter Corporation presented to its investors.
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Glatfelter Corporation is a global supplier of engineered materials, specializing in innovative nonwovens solutions for diverse applications including personal care, hygiene products, and industrial uses. The company is headquartered in Charlotte, NC, and operates manufacturing sites and sales offices worldwide.
In its latest earnings report, Glatfelter Corporation announced a GAAP net loss from continuing operations of $20 million for the third quarter of 2024, amidst a transition to merge with Berry Global’s Health, Hygiene and Specialties segment. The company generated net sales of approximately $332 million, with an Adjusted EBITDA of $24.6 million.
Key highlights from the report include the performance of its business segments. Spunlace reported a significant EBITDA increase to $4.8 million despite operational disruptions from a hurricane. Airlaid Materials posted an EBITDA of $18 million, reflecting a slight decrease from the previous year, while Composite Fibers saw a decline in EBITDA to $10.1 million due to sanctions affecting sales.
Looking forward, the management of Glatfelter Corporation remains optimistic about the impending merger and the company’s positioning for future growth and innovation under the new entity, Magnera. The merger is expected to enhance Glatfelter’s capabilities and market reach in the specialty materials industry.
