Tredegar Q3 net income drops to $1.0M from $6.2M; PE Films EBITDA slumps

TREDEGAR CORP

2022-Q3 EPS reported $0.96

Net income from continuing ops $1.0M ($0.03/diluted share) vs $6.2M ($0.19) YoY; ongoing ops net $4.8M ($0.14) vs $7.2M ($0.22).
Aluminum Extrusions EBITDA flat at $12.1M; volume flat but specialty down 11%, B&C up 8.5%.
PE Films EBITDA plunges $4.4M to $0.4M on soft flat-panel demand and customer inventory corrections.
Debt net of cash increased $62M in 9 months due to $50M pension contribution and higher working capital.
Open orders at Aluminum Extrusions fell to 59M lbs from 86M lbs Q2 as customers destock.

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

TREDEGAR CORP reported financial results for the third quarter ended September 30, 2022.

Period: the third quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On November 09, 2022 , Tredegar Corporation announced its results of operations for the third quarter ended September 30, 2022. Furnished as Exhibit 99 and incorporated herein by reference is the press release issued by Tredegar Corporation containing that announcement.

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Source: SEC EDGAR

accession 0000850429-22-000026

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