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Magnera (NYSE: MAGN) has announced its participation in JP Morgan's Global Leveraged Finance Conference in Miami Beach, Florida. The company will be represented by CEO Curt Begle and CFO & Treasurer Jim Till, who are scheduled to present on Tuesday, February 25, 2025, at 5:15 p.m. EST.
Magnera (NYSE: MAGN) has announced its participation in JP Morgan's Global Leveraged Finance Conference in Miami Beach, Florida. The company will be represented by CEO Curt Begle and CFO & Treasurer Jim Till, who are scheduled to present on Thursday, February 25, 2025, at 5:15 p.m. EST.
Magnera (NYSE: MAGN) has reported its Q1 fiscal 2025 results following its merger with Berry Global Group's nonwovens and hygiene films business with Glatfelter on November 4, 2024. The company posted net sales of $702 million, representing a 35% increase, though it recorded an operating loss of $22 million. The adjusted EBITDA reached $84 million, up 27% from the previous year.
For fiscal year 2025, Magnera projects comparable adjusted EBITDA of $385-405 million and post-merger adjusted free cash flow of $75-95 million. The company maintains a strong focus on debt reduction, with current total net debt at $1,781 million and a leverage ratio of 4.0x. The merger contributed $186 million in revenue and $16 million in adjusted EBITDA since closing.
Magnera (NYSE: MAGN) has announced it will release its 2025 first quarter financial results before the market opens on Thursday, February 6, 2025. The company will host a conference call and webcast at 10:00 AM ET on the same day to discuss the results.
The earnings release will be made available on Magnera's website, and investors can participate in the Q&A session through pre-registration. An archived version of the webcast will be accessible approximately two hours after the live session through the company's Investor Relations webpage.
Magnera (NYSE: MAGN) has emerged as the world's largest nonwovens company following the merger between Berry Global Group's Health, Hygiene and Specialties Global Nonwovens and Films business and Glatfelter. The new entity will begin trading on NYSE under 'MAGN' on November 5, 2024. The combined company operates 46 global manufacturing facilities serving over 1,000 customers across various sectors including adult incontinence, baby care, feminine hygiene, and healthcare. Under the Reverse Morris Trust transaction, Berry stockholders received 0.276305 Magnera shares for each Berry share, representing 90% ownership of Magnera, with Glatfelter shareholders owning the remainder.
Berry Global Group (NYSE: BERY) has completed the merger of its Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter , creating Magnera (NYSE: MAGN), the world's largest nonwovens company. Through a Reverse Morris Trust transaction, Berry stockholders received 0.276305 Magnera shares for each Berry share held as of November 1, 2024, resulting in Berry stockholders owning 90% of Magnera while Glatfelter shareholders retained 10%. Berry stockholders maintain their existing Berry shares alongside the new Magnera allocation. Trading of Magnera on NYSE under 'MAGN' begins November 5, 2024.
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