Tredegar Q1 net loss $1.0M; warns may cut dividend if no recovery early Q3

TREDEGAR CORP

2024-FY EPS reported -$0.03

GAAP net loss $1.0M ($0.03/sh) vs profit $16.4M ($0.49/sh) in Q1 2022; ongoing ops net income $2.5M ($0.07/sh).
Aluminum Extrusions EBITDA from ongoing ops $14.6M, down 38.8% YoY; volume 37.6M lbs (-12.7%); sales $133.4M (-15.6%).
CEO cites severe slowdown, customer inventory corrections; warns negative cash flow may force dividend reduction or suspension.
Expects final pension plan payment of ~$28M in Q4 2023; net leverage ratio rising.

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 0.9

TREDEGAR CORP reported first quarter ended March 31, 2023 results: net income $(1.0) million, EPS $(0.03) per diluted share.

Period: first quarter ended March 31, 2023
Net income: $(1.0) million
EPS: $(0.03) per diluted share
Result: reported results

Exact text from the filing

First quarter 2023 net income (loss) was $(1.0) million ($(0.03) per diluted share) compared to net income (loss) of $16.4 million ($0.49 per diluted share) in the first quarter of 2022.

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Source: SEC EDGAR

accession 0000850429-23-000011

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