Glatfelter Q4 net loss $34.1M; goodwill impairment $30.7M; 2023 EBITDA guidance $110-120M

Magnera Corp

2022-FY EPS reported -$4.33 revenue$1,491,326,000

Net loss from continuing ops $34.1M (EPS -$0.76); adjusted EPS -$0.16 vs +$0.04 YoY.
Goodwill impairment $30.7M in Composite Fibers; asset impairment $10.4M at OberSchmitten.
Spunlace operating loss improved to $1.2M from $1.3M; Airlaid Materials op income up 19%.
Signed commitment for €250M term loan from Angelo Gordon to refinance €220M loan due Feb 2024.
2023 Adjusted EBITDA guidance $110-120M; net leverage 6.0x; adjusted FCF use $70M.

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 the three months and year ended December 31, 2022 results: revenue $373,903, net income $(34,113), EPS $(0.76).

Period: the three months and year ended December 31, 2022
Revenue: $373,903
Net income: $(34,113)
EPS: $(0.76)
Result: reported results

Exact text from the filing

drive operational and financial improvements despite continued inflationary and energy price headwinds. Three months ended December 31, Dollars in thousands 2022 2021 Net sales $ 373,903 $ 334,459 Net loss from continuing operations (34,113) (11,223) Adjusted earnings (loss) from continuing operations (6,974) 1,626 EPS from continuing operations (0.76) (0.25)

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Source: SEC EDGAR

accession 0000041719-23-000002

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