Tredegar Q3 net loss $50.4M ($1.47/sh); ongoing ops loss $5.1M; aluminum volume down 29%

TREDEGAR CORP

2024-FY EPS reported -$1.47

Net loss $50.4M ($1.47 diluted) vs net income $1.0M ($0.03) in Q3 2022; ongoing ops loss $5.1M vs $4.8M income.
Aluminum Extrusions EBITDA from ongoing ops $5.1M, down 57.6% from $12.1M; sales volume 32.5M lbs, down 28.6%.
PE Films EBITDA from ongoing ops improved to $4.0M from $0.4M; Flexible Packaging Films (Terphane) EBITDA $0.5M vs $7.8M.
Company executed agreement to sell Terphane, subject to competition authority clearance; also settled pension plan and restructuring credit.
Open orders at Aluminum end-Q3: ~17M lbs vs ~20M at Q2 2023 and ~59M at Q3 2022; demand remains sluggish.

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 0.7

TREDEGAR CORP reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 09, 2023 , Tredegar Corporation announced its results of operations for the third quarter ended September 30, 2023. 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 0000850429-23-000030

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