LDL - LDL STOCK NEWS

Lydall, Inc. (NYSE: LDL) announced a price increase for its Filtration and Specialty Insulation products due to significant and ongoing rises in raw material and freight costs. President Ashish Diwanji stated that despite efforts to reduce costs through their One Lydall strategy, inflationary pressures necessitate this price adjustment to maintain product quality and innovation. Account representatives will communicate the details of the price increase directly to affected customers, with timing dependent on existing agreements.

Lydall, Inc. (LDL) reported Q4 2020 net sales of $210.3 million, an 8.8% increase year-over-year, driven by strong specialty filtration and automotive demand. Gross margin expanded to 19.0% (up 440 bps) with adjusted EBITDA rising 42% to $17.7 million. Net income transitioned to a profit of $0.3 million from a loss of ($4.07) per share in Q4 2019. The company’s debt decreased to $168.3 million, resulting in a net debt leverage ratio of 2.5x. Continued strong demand for specialty filtration products is anticipated into 2021.

Lydall encourages consumers to choose ASTM-certified and American-made face masks following new certification standards from ASTM International. These standards define levels of particle blockage, with Level 1 masks blocking at least 20% and Level 2 masks blocking at least 50% of particles 0.3 micron and larger. CEO Sara Greenstein emphasized the importance of understanding mask protection to manage COVID-19 risks, highlighting that while N95 and surgical masks are the gold standard, the new guidelines assist consumers in making informed choices during supply shortages.

Lydall, Inc. announced it will release its fourth quarter financial results for the period ending December 31, 2020 on February 23, 2021, after market close. The company will host a conference call on February 24, 2021, at 10:00 a.m. ET, featuring President and CEO Sara A. Greenstein, CFO Randall B. Gonzales, and VP of Investor Relations Brendan Moynihan. Interested parties can listen via phone or through a live webcast on the company’s website. A recording will be available from February 24 through March 3, 2021.

Lydall, Inc. (NYSE: LDL) will host its virtual Investor Day on December 9, 2020, at 10:00 AM ET. The event aims to present the company’s strategic roadmap focused on enhancing long-term shareholder value, including discussions on capital allocation and financial targets. The leadership team, including CEO Sara Greenstein, CFO Randall Gonzales, and Ashish Diwanji, President of Lydall Performance Materials, will lead the presentation, which will be followed by a Q&A session. Interested participants can register via Lydall’s Investor Relations page.

In Q3 2020, Lydall reported a net sales increase to $207.1 million, up 0.9% year-over-year, alongside strong operational cash flow of $34.2 million. However, it faced an operating loss of $9.3 million due to $15 million in restructuring charges. The specialty filtration segment thrived with a 38% sales increase, while thermal acoustical solutions rebounded sharply. Nonetheless, labor shortages from COVID-19 increased operational costs. Cash balance rose significantly to $122 million. Lydall is focused on portfolio restructuring and innovation to meet long-term demand in specialty filtration.

Lydall, Inc. (NYSE: LDL) will announce its third-quarter financial results for the period ended September 30, 2020 on October 27, 2020, after the market closes. A follow-up conference call is scheduled for October 28, 2020, at 10:00 a.m. Eastern Time, featuring key executives including Sara A. Greenstein and Randall B. Gonzales. Interested participants can join via phone or listen to a live webcast available on the company's website. A recording will be accessible from October 28 through November 4, 2020.

Lydall, a prominent manufacturer of filtration solutions, has partnered with XPRIZE for the Next-Gen Mask Challenge, aimed at developing superior surgical-grade face masks. The challenge invites young adults globally to innovate mask designs and offers a total prize of $1 million for the top three teams. Lydall will supply critical fine fiber meltblown filtration media, essential for effective N95 respirators and surgical masks. The company is also expanding production capabilities with two new lines in New Hampshire and one in France, enhancing its output capacity significantly.

Lydall, a leader in engineered materials, announces the investment in a new production line for fine fiber meltblown filtration media at its Saint-Rivalain, France facility. This initiative, supported by a French government grant, will boost production capacity significantly, enabling the supply of 600 million FFP2/FFP3 respirators or 2.2 billion surgical masks annually. Lydall aims to enhance local supply chains for critical filtration products amid increased global demand due to COVID-19, while also planning to hire additional staff to meet production needs.