Highest-materiality recent filing
Magnera Q3 net sales $857M, adj. EBITDA $99M; reaffirms FY free cash flow outlook
Q3 net sales $857M (+2% YoY); operating income $22M vs $13M prior year.
Magnera reports Q4 net sales $839M, adjusted EBITDA $90M; FY net sales $3.2B, adjusted EBITDA $354M
Q4 GAAP operating income $10M, net cash from operations $96M; FY operating income $5M.
David Parks, President Americas, to depart effective Nov 11, 2025 and intends to retire.
Magnera Q3 net sales $839M, op income $13M; reaffirms adj. EBITDA guidance
GAAP net sales $839M (up 51% YoY), operating income $13M (down from $17M).
Magnera Q2 net sales $824M, adj EBITDA $89M; lowers full-year EBITDA guidance
GAAP net sales $824M vs $558M year ago; operating income $4M vs $21M.
Magnera reports Q1 net sales $702M, adjusted EBITDA $84M; provides FY2025 outlook
GAAP net sales $702M (up 35% reported; comparable 2% adjusting for merger and FX); GAAP operating loss $22M.
Magnera completes HHNF spinoff merger; incorporates Spinco 10-K risk factors and audited financials
Transaction closed Nov 4, 2024: Berry's HHNF business merged into Magnera (f/k/a Glatfelter) via Reverse Morris Trust.
Magnera closes spin-off merger with Berry's HHNF Business, takes on $800M notes
Berry separated and spun off its HHNF Business; Spinco merged into Magnera (formerly Glatfelter) on Nov 4, 2024.
Glatfelter Q3 net loss $20M, Adj. EBITDA $24.6M; merger closing Nov 4
Net sales $332M, GAAP net loss from continuing ops $20.0M ($0.44 EPS loss); adjusted EPS loss $0.26.
Glatfelter shareholders approve all merger proposals; 1-for-13 reverse stock split set for Nov 4
Shareholders approved share issuance, charter amendments (increase shares to 240M, reverse split), omnibus plan, and golden parachute compensation.
Glatfelter and Berry waive IRS ruling & tax opinion conditions to close HHNF merger
Waived condition for IRS private letter ruling on tax treatment of the spin-off and merger.
Six Magnera Board designees named: Bruce Brown, Michael Curless, Thomas Fahnemann, Samantha Marnick, Carl Rickertsen, Thomas Salmon.
Glatfelter Q2 net sales $329M, net loss narrows to $15.8M; merger with Berry HHNF on track
Net sales $329M vs $357M YoY; GAAP net loss from cont ops $15.8M vs $36.6M loss a year ago.
Glatfelter Q1 net sales $327M, net loss $26.2M; merger with Berry HHNF on track for H2 2024
Net sales $327M, down 13.5% YoY from $378M in Q1 2023.
Glatfelter names Till CFO, Manroa COO for NewCo; Fogarty non-exec chair
James Till (Berry EVP/Controller) to be EVP CFO & Treasurer of NewCo; base salary $575k, bonus target 75%, LTIP $1.2M.
Glatfelter Q4 net sales $320M, Adj EBITDA $25M; merger with Berry HHNF anticipated H2 2024
Q4 net sales $320M, loss from continuing ops $8.6M ($0.19 diluted EPS loss); adj EPS loss $0.04.
Glatfelter will acquire Berry's HHNF business via Reverse Morris Trust; Berry to distribute Spinco shares to its stockholders.
Glatfelter merges with Berry's HHNF in $3.6B Reverse Morris Trust; GLT holders get 10%
Transaction valued at $3.6B enterprise value; pro forma revenue ~$3.6B, Adj. EBITDA ~$455M.
Glatfelter reports Q3 net loss $19.7M, lowers FY 2023 EBITDA guidance by $10M
Net sales $330M, down from $372M YoY; GAAP net loss from continuing ops $19.7M ($0.43 EPS loss).
Glatfelter sells Ober-Schmitten facility to Ostrest GmbH; expects ~$15M loss
Sale of Ober-Schmitten GmbH and related Asia distributor operations to Ostrest GmbH effective Aug. 15, 2023.
Glatfelter Q2 net loss $36.6M; guides FY EBITDA down to $100-110M
Net sales $357M; GAAP net loss $36.6M ($0.82 EPS loss) vs $2.5M loss in Q2 2022.
Glatfelter closes Ober-Schmitten, Germany facility; ~180 employees affected
Closure of Composite Fibers segment facility due to ongoing losses in electrical and glassine specialty papers.
Glatfelter Q1 net loss $13.6M, adjusted EBITDA up to $24.8M; reaffirms FY23 guidance $110-120M
Net loss of $13.6M (diluted EPS -$0.30) vs net loss $108.3M in Q1 2022; adjusted EPS -$0.13 vs -$0.14.
Glatfelter appoints Boris Illetschko as COO; two senior executives depart
Boris Illetschko appointed SVP, COO effective by October 1, 2023, consolidating commercial and supply chain roles.
Glatfelter enters €250M term loan at 11.25% and amends revolver to $250M
New €250M senior secured term loan facility with 6-year maturity, interest at 11.25% per annum.
Glatfelter Q4 net loss $34.1M; goodwill impairment $30.7M; 2023 EBITDA guidance $110-120M
Net loss from continuing ops $34.1M (EPS -$0.76); adjusted EPS -$0.16 vs +$0.04 YoY.
Glatfelter enters €250M term loan facility with Angelo Gordon at 11.25% interest
€250M senior secured term loan facility from Angelo Gordon; 6-year term, 11.25% fixed rate.
Glatfelter shareholders approve governance amendments including majority voting and proxy access
At Nov 11, 2022 special meeting, shareholders approved majority voting standard for uncontested director elections.
Glatfelter Q3 net loss $49.3M; EPS -$1.10; Spunlace goodwill impairment $42.5M; launches turnaround
Net loss from continuing ops $49.3M vs. income $8.1M a year ago; adjusted EPS -$0.10 vs. +$0.21.
Paul Harmon Executive Vice President, Global Innovation, Engineering & Sustainability
Michael (Mike) S. Curless, Samantha (Sam) J. Marnick, Carl J. (Rick) Rickertsen, Thomas (Tom) E. Salmon and Mary Dean Hall, Berry’s designees pursuant to its rights under the RMT Agreement, and Curtis L. Begle as the CEO designee, in accordance with the RMT Agreement, were elected to the Board.
Thomas Fahnemann resigned from his position as the President and Chief Executive Officer
David Parks President, Americas
Michael (Mike) S. Curless, Samantha (Sam) J. Marnick, Carl J. (Rick) Rickertsen, Thomas (Tom) E. Salmon and Mary Dean Hall, Berry’s designees pursuant to its rights under the RMT Agreement, and Curtis L. Begle as the CEO designee, in accordance with the RMT Agreement, were elected to the Board.
Ramesh Shettigar resigned from his position as the Senior Vice President, Chief Financial Officer & Treasurer
Michael (Mike) S. Curless, Samantha (Sam) J. Marnick, Carl J. (Rick) Rickertsen, Thomas (Tom) E. Salmon and Mary Dean Hall, Berry’s designees pursuant to its rights under the RMT Agreement, and Curtis L. Begle as the CEO designee, in accordance with the RMT Agreement, were elected to the Board.
David C. Elder resigned from his position as Vice President, Strategic Initiatives, Business Optimization & Chief Accounting Officer
Kathy Vanderheyden Executive Vice President, Global Operations Excellence & Integration, Quality & Regulatory, EHS
Jill L. Urey Executive Vice President, General Counsel and Corporate Secretary
Tarun Manroa Executive Vice President and Chief Operating Officer
Robert Weilminster Executive Vice President, Strategy, Integration, Corporate Development, Investor Relations
Max materiality 0.95 · Median 0.62 · Most common event earnings