Glatfelter Q2 net loss $36.6M; guides FY EBITDA down to $100-110M

Magnera Corp

2023-Q2 EPS reported -$1.13 revenue$735,213,000

Net sales $357M; GAAP net loss $36.6M ($0.82 EPS loss) vs $2.5M loss in Q2 2022.
Adjusted EBITDA $17.3M, down from $27.2M; adjusted EPS loss $0.45 vs $0.04 loss.
Operational issues: ~$3M from fires, ~$4M Ober-Schmitten closure losses, ~$3M forex/other.
Full-year Adjusted EBITDA guidance lowered to $100-$110M from prior outlook.
Turnaround Strategy contributed $7M earnings from price hikes and fixed cost cuts.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magnera Corp reported three months ended June 30, 2023 results: revenue 357,005, net income -36,631, EPS -0.82. Guidance lowered.

Period: three months ended June 30, 2023
Revenue: 357,005
Net income: -36,631
EPS: -0.82
Guidance: lowered
Result: reported results

Exact text from the filing

which reinforces our stable business fundamentals,” said Thomas Fahnemann, President and CEO of Glatfelter. Three months ended June 30, Dollars in thousands 2023 2022 Net sales $ 357,005 $ 363,963 Net loss from continuing operations (36,631) (2,460) Adjusted loss from continuing operations (1) (20,450) (1,596) EPS from continuing operations (0.82) (0.05) Adjusted

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Source: SEC EDGAR

accession 0000041719-23-000030

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