Glatfelter Q3 net loss $49.3M; EPS -$1.10; Spunlace goodwill impairment $42.5M; launches turnaround

Magnera Corp

2022-Q3 EPS reported -$3.57 revenue$1,117,423,000

Net loss from continuing ops $49.3M vs. income $8.1M a year ago; adjusted EPS -$0.10 vs. +$0.21.
Revenue up 33% to $371.8M on Jacob Holm acquisition; Spunlace segment operating loss $4.7M.
Goodwill impairment charge of $42.5M for Spunlace; net leverage rose to 5.7x from 3.8x.
Airlaid Materials record operating income of $16.6M; Composite Fibers income $6.6M.
Company-wide turnaround strategy focused on portfolio optimization, margin improvement, cost reduction.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Magnera Corp reported three months ended September 30, 2022 results: revenue $ 371,780, net income $ (49,254), EPS (1.10).

Period: three months ended September 30, 2022
Revenue: $ 371,780
Net income: $ (49,254)
EPS: (1.10)
Result: reported results

Exact text from the filing

operational and financial improvements despite continued inflationary and energy price headwinds. Three months ended September 30, Dollars in thousands 2022 2021 Net sales $ 371,780 $ 279,651 Net Income (loss) from continuing operations (49,254) 8,059 Adjusted earnings (loss) from continuing operations (4,306) 9,482 EPS from continuing operations (1.10) 0.18

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Source: SEC EDGAR

accession 0000041719-22-000046

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