Welcome to our dedicated page for Tredegar Corporation news (Ticker: TG), a resource for investors and traders seeking the latest updates and insights on Tredegar Corporation stock.
Tredegar Corporation (NYSE: TG), headquartered in North Chesterfield, Virginia, is a prominent player in the global manufacturing sector. The company operates through its subsidiaries, which specialize in the production of polyethylene plastic films, polyester films, and aluminum extrusions. With over 1,700 employees and 13 locations spanning North America, Europe, Asia, and South America, Tredegar serves a diverse range of markets and industries.
Tredegar Film Products, a key subsidiary, is a global leader in the plastic films industry. The company offers a wide array of capabilities in polyethylene, polypropylene, elastics, and polyester films. These products are essential in various applications, including personal care, electronic displays, food packaging, and lighting. Tredegar Film Products prides itself on its innovative research and development, enabling it to meet the evolving demands of global markets effectively. Their motto, “layers of confidence”™, underscores their commitment to quality and reliability.
Another significant segment of Tredegar's operations is its Aluminum Extrusions division, which generates the majority of the company's revenue. This division produces high-quality, soft-alloy, and medium-strength aluminum used in a range of applications, including building and construction, automotive, consumer durables, machinery and equipment, electrical, and distribution markets.
Tredegar Corporation's strategic focus on innovation and quality, combined with its extensive global footprint and local supply capabilities, positions it well for continued growth and success. The company is committed to expanding its reach in diverse markets worldwide, delivering reliable and high-performance products that meet the rigorous demands of its customers.
Recent Achievements and News:
- The company has recently strengthened its market presence with strategic partnerships and collaborations.
- Ongoing projects include the development of advanced films for electronic displays and sustainable packaging solutions.
- Financially, Tredegar maintains a robust position, with steady revenue streams from the United States, Asia, and Brazil.
For the latest updates and relevant information about Tredegar Corporation's performance, events, and developments, please stay tuned to our news section.
The board of directors of Tredegar Corporation (NYSE:TG) has declared a quarterly dividend of $0.12 per share on its common stock. This dividend is payable on July 1, 2022, to shareholders of record at the close of business on June 17, 2022. Tredegar, an industrial manufacturer, reported $826 million in sales from continuing operations in 2021 and employs approximately 2,400 individuals across manufacturing facilities in North America, South America, and Asia.
Tredegar Corporation (NYSE:TG) will host its 2022 annual shareholders meeting virtually on May 5, 2022, at 9:00 a.m. EDT. Shareholders registered by March 11, 2022, can vote and ask questions online. Financial results for Q1 2022 will be released around May 9, 2022. Registration for the meeting is required by May 4, 2022. Tredegar, an industrial manufacturer with 2021 sales of $826 million, operates in North America, South America, and Asia, focusing on aluminum extrusions, surface protection films, and polyester films.
Tredegar Corporation (NYSE: TG) reported its fourth quarter and full year 2021 financial results, showing a substantial increase in net income from continuing operations of $21.4 million ($0.63 per diluted share), compared to $6.5 million ($0.19 per diluted share) a year prior. Full year net income was $57.9 million ($1.72 per diluted share), reversing a net loss of $16.8 million in 2020. However, EBITDA from ongoing operations declined across several segments. The company continues to face challenges with supply chain issues, labor shortages, and inflation, impacting profitability. Debt reduced by approximately $80 million in 2021.
The board of Tredegar Corporation (NYSE:TG) announced a quarterly dividend of $0.12 per share on its common stock. The dividend will be paid on April 1, 2022, to shareholders recorded by the close of business on March 25, 2022. In 2021, Tredegar generated sales of $826 million from continuing operations. The company specializes in custom aluminum extrusions, surface protection films for electronics, and polyester films for flexible packaging across North America, South America, and Asia, employing approximately 2,400 people.
Tredegar Corporation (NYSE:TG) announced the termination of its frozen defined benefit pension plan, a process expected to take up to 24 months pending regulatory approvals. On February 9, 2022, the company contributed $50 million to reduce pension underfunding of approximately $69 million, realizing an estimated tax benefit of $11 million. Total pension plan administrative costs during this period are projected at $4 to $5 million. The company reported a leverage ratio of 1.32x and expects no required minimum contributions until the final settlement.
Tredegar Corporation (NYSE:TG) has completed the sale of its approximately 18% stake in kaléo, Inc., receiving $47.1 million in cash proceeds. The agreement allows for potential additional cash of $1.4 million, contingent on post-closing adjustments, plus up to $5.6 million in 2023 and $8.5 million in 2024 based on kaléo's revenue performance. The estimated fair value of Tredegar's kaléo investment was $35.5 million as of September 30, 2021. Tredegar plans to use $25 million in capital loss carryforwards to offset anticipated capital gains from this transaction.
Tredegar Corporation (NYSE:TG) announced the sale of its 18% stake in kaléo, Inc. through a liquidity event managed by Marathon Asset Management. The transaction, expected to close by December 31, 2021, will yield approximately $45.8 million for Tredegar, based on $13.33 per share. Additional cash payments are possible up to $15.8 million contingent on future kaléo revenue targets. Tredegar's investment in kaléo was initially valued at $35.5 million as of September 30, 2021, with a cost basis of $7.5 million. The company anticipates utilizing capital loss carryforwards to offset related capital gains.
Tredegar Corporation (NYSE:TG) reported a net income of $6.2 million (0.19 per diluted share) for Q3 2021, contrasting with a net loss of $17.0 million in Q3 2020. Net income from ongoing operations decreased to $7.2 million compared to $13.2 million in the prior year. EBITDA from Aluminum Extrusions fell by $4.5 million, while PE Films saw a $1.2 million decline. The Company cited labor shortages impacting production capacity and anticipates a $6 million profitability erosion in PE Films due to competitive pressures. Total debt reduced to $127 million by September 2021.
The board of directors of Tredegar Corporation (NYSE:TG) has declared a quarterly dividend of $0.12 per share on its common stock, with a payment date set for January 1, 2022. Shareholders on record by the close of business on December 17, 2021 will be eligible for the dividend. Tredegar operates in three primary sectors: custom aluminum extrusions, surface protection films, and specialized polyester films. In 2020, the company reported $755 million in sales from continuing operations.
Tredegar Corporation (NYSE:TG) reported a net income of $20.7 million ($0.61 per diluted share) for Q2 2021, up from $14.3 million ($0.43 per diluted share) in Q2 2020. Ongoing operations net income was stable at $16.1 million ($0.48 per diluted share). EBITDA from Aluminum Extrusions rose to $19.7 million, while PE Films suffered a $6.5 million decline. Despite challenges like labor shortages and supply chain disruptions, current bookings and backlog are at record levels. Debt decreased by $22 million to under $100 million, signaling strong cash generation.
FAQ
What is the current stock price of Tredegar Corporation (TG)?
What is the market cap of Tredegar Corporation (TG)?
What does Tredegar Corporation do?
Where is Tredegar Corporation headquartered?
What are the main segments of Tredegar Corporation's operations?
Which segment generates the majority of Tredegar Corporation's revenue?
What markets does Tredegar Film Products serve?
How many employees does Tredegar Corporation have?
In which regions does Tredegar Corporation operate?
What recent achievements has Tredegar Corporation made?
What products does the Aluminum Extrusions division produce?
Where can I find the latest news about Tredegar Corporation?
