Glatfelter Q1 net sales $327M, net loss $26.2M; merger with Berry HHNF on track for H2 2024

Magnera Corp

2024-Q1 EPS reported -$0.58 revenue$327,256,000

Net sales $327M, down 13.5% YoY from $378M in Q1 2023.
GAAP net loss from continuing ops $26.2M ($0.58 diluted EPS); adjusted EPS loss $0.33.
Adjusted EBITDA $23.8M (7.3% margin); Spunlace +$5M, Airlaid -$9M, Composite Fibers +$2M.
Composite Fibers EBITDA highest since Q3 2021, with margins averaging 10% last 3 quarters.
Merger with Berry HHNF: HSR waiting period expired; Glatfelter shareholders ~10% ownership; close H2 2024.

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 financial results for the first quarter of 2024.

Period: the first quarter of 2024
Result: reported results

Exact text from the filing

On May 9, 2024, the Company reported its results of operations for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0000041719-24-000015

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