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Headquartered in York, Pennsylvania, Glatfelter Corporation (NYSE: GLT) is a global leader in the manufacturing of specialty papers and engineered products. With over 150 years of experience, Glatfelter provides innovative, high-quality solutions that drive value for customers worldwide. The company operates through three primary segments: Composite Fibers, Spunlace, and Airlaid Materials.
Glatfelter’s Composite Fibers segment offers a diverse range of products including food and beverage filtration papers, wallcover base materials, and composite laminates. The Spunlace segment produces nonwoven fabrics used in critical cleaning, medical, and hygiene applications. The company’s Airlaid Materials segment, which generates the majority of its revenue, supplies cellulose-based airlaid nonwoven materials used in consumer products like feminine hygiene items, specialty wipes, and home care products.
The company boasts a strong global presence, with facilities in the United States, Germany, France, the UK, Canada, and several other countries. This extensive network supports Glatfelter’s commitment to delivering world-class service and technical expertise to over 4,400 employees worldwide.
Recently, Glatfelter has been executing a Turnaround Strategy to enhance operational and financial performance. This strategy has led to improved EBITDA margins and stronger production across its segments. Despite challenging market conditions, especially in Europe, the company continues to focus on cost management and innovation to drive growth and productivity.
Additionally, Glatfelter has reinforced its environmental responsibility through sustainable practices across its operations. The company’s dedication to environmental stewardship is evident in its approach to manufacturing and product development.
In a significant development, Glatfelter announced a strategic merger with Berry Global’s Health, Hygiene, and Specialties Global Nonwovens and Films business. This merger is expected to create a new global leader in specialty materials, enhancing scale, technology, and market reach, thereby positioning Glatfelter for substantial shareholder value and long-term growth.
Glatfelter’s commitment to quality, sustainability, and innovation continues to make it a pivotal player in the engineered materials industry, driving advancements that enhance everyday life.
Glatfelter Corporation (NYSE: GLT) announced leadership changes on August 25, 2022, as Thomas Fahnemann takes over as President and CEO, succeeding Dante C. Parrini after 25 years. The board also appointed Kevin M. Fogarty as Non-Executive Chairman. Despite the changes, the board emphasized that they are not connected to operational or financial issues. The company faces challenges from global inflation and geopolitical conflicts affecting its financial performance, indicating a need for new strategic direction. The Q3 earnings report is expected on November 1.
Glatfelter Corporation (NYSE: GLT) reported a loss of $2.5 million or $0.05 per share for Q2 2022, down from a net income of $1.5 million or $0.03 per share in Q2 2021. Adjusted earnings were a loss of $1.6 million, significantly lower than adjusted earnings of $8.0 million the previous year. Net sales rose to $364.0 million from $244.9 million, driven by acquisitions, though Composite Fibers net sales fell 12.9%. The Spunlace segment reported an operating loss of $1.8 million due to inflationary pressures and supply chain issues.
Glatfelter Corporation (NYSE: GLT) will release its 2022 second-quarter results on August 2, 2022, with a conference call at 11:00 AM ET. The earnings release will include a financial supplement with significant data to be discussed during the call. Interested parties can access the earnings release and the conference via Glatfelter’s Investor Relations website. The company reported net sales of $1.1 billion in 2021 and focuses on innovative, sustainable engineered materials across various applications. For more details, visit www.glatfelter.com.
Glatfelter Corporation (NYSE: GLT), a global supplier of engineered materials, will present at the Sidoti & Company Summer Small Cap Virtual Conference on June 16, 2022, starting at 10:45 am ET. Dante C. Parrini, CEO, and Ramesh Shettigar, CFO, will represent the company. One-on-one meetings will also be conducted with participants. Glatfelter, headquartered in Charlotte, NC, reported $1.1 billion in net sales for 2021 and employs around 3,250 staff globally. The company focuses on sustainable, innovative materials for various industries including personal care and filtration.
Glatfelter Corporation (NYSE: GLT) has partnered with Aakar Innovations to combat period poverty in India by providing menstrual products and creating job opportunities for women in rural areas. This initiative aims to supply 3 million menstrual pads, benefiting around 30,000 local women and girls over one year. Approximately 500 million women globally face period poverty, impacting education, particularly in India, where 70% of girls cannot afford sanitary products. The project aligns with Glatfelter's commitment to social sustainability and environmental responsibility, repurposing materials to further these goals.
Glatfelter Corporation (NYSE: GLT) will participate in the Deutsche Bank 13th Annual Global Materials Conference on June 8, 2022, in New York City. The CEO, Dante C. Parrini, and CFO, Ramesh Shettigar, will present and hold one-on-one meetings with investors. The formal presentation starts at 12:00 PM ET, with a webcast available on Glatfelter’s website.
The company specializes in engineered materials, focusing on sustainability and innovation, achieving $1.1 billion in net sales in 2021.
Lindsay Goldberg has completed the sale of Pixelle Specialty Solutions Holding LLC, a North American provider of fiber-based specialty solutions. Established in 2018 from the specialty papers business of P.H. Glatfelter, Pixelle has grown significantly under the leadership of CEO Timothy Hess and with strategic acquisitions, positioning itself as a market leader. The transaction terms remain undisclosed, but Lindsay Goldberg emphasized the successful partnership and strategic growth achieved during its ownership, which included advancements in ESG initiatives.
Glatfelter Corporation (NYSE: GLT) has declared a cash dividend of $0.14 per share on its common stock. This dividend is set to be paid on August 1, 2022, to shareholders on record as of July 1, 2022. In 2021, Glatfelter reported net sales of $1.1 billion and employs approximately 3,250 individuals worldwide. The company is a leading global supplier of engineered materials, focusing on sustainable and innovative solutions used across various industries, including personal care and medical applications.
Glatfelter Corporation (GLT) reported a significant loss from continuing operations of $108.3 million, or $2.42 per share, for Q1 2022, a stark contrast to a net income of $8.4 million, or $0.19 per share, in Q1 2021. The decline is attributed to the Russia/Ukraine conflict, resulting in non-cash impairment charges totaling $117.3 million. Despite net sales increasing to $381.7 million from $225.7 million, the Composite Fibers segment experienced operational losses due to rising raw material and energy costs. Future profitability efforts include a transition to a cost pass-through pricing model.
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