Glatfelter Q1 net loss $13.6M, adjusted EBITDA up to $24.8M; reaffirms FY23 guidance $110-120M

Magnera Corp

2023-Q1 EPS reported -$0.30 revenue$378,208,000

Net loss of $13.6M (diluted EPS -$0.30) vs net loss $108.3M in Q1 2022; adjusted EPS -$0.13 vs -$0.14.
Revenue $378.2M, down slightly from $381.7M; Airlaid EBITDA +$1.8M, Composite Fibers +$3.9M, Spunlace -$0.3M.
Adjusted EBITDA $24.8M, up 7.7% YoY; cash from ops improved $35.6M to -$30.6M.
Reaffirmed FY 2023 Adjusted EBITDA guidance of $110M-$120M; completed refinancing extending maturities to 2026.
Moody's upgraded corporate rating to B3; leverage at 3.0x as of March 31, 2023.

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 March 31, 2023 results: revenue $ 378,208, net income Net loss $ (13,584), EPS $(0.30). Guidance reaffirmed.

Period: three months ended March 31, 2023
Revenue: $ 378,208
Net income: Net loss $ (13,584)
EPS: $(0.30)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

on the Company's progress with its turnaround strategy to drive operational and financial improvements. Three months ended March 31, Dollars in thousands 2023 2022 Net sales $ 378,208 $ 381,680 Net loss from continuing operations (13,182) (108,290) Adjusted loss from continuing operations (5,866) (6,159) EPS from continuing operations (0.29) (2.42) Adjusted EPS

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Source: SEC EDGAR

accession 0000041719-23-000015

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