Magnera Corp · Q2 2021 earnings

Briefing

Reported net income with successful Mount Holly integration contributing favorably to results, and announced acquisition of Jacob Holm to add scale and new technologies.

Glatfelter Corporation reported a net income of $1.5 million for the second quarter of 2021, compared to a loss of $2.3 million in the same period last year. Consolidated net sales totaled $244.9 million, compared to $216.2 million for the same period in 2020.

• Net income for the three months ended June 30, 2021 was $1.5 million, or $0.03 per diluted share, compared with a loss of $2.3 million, or a loss of $0.05 per share, in the same period a year ago.
• Consolidated net sales for the three months ended June 30, 2021 totaled $244.9 million, compared with $216.2 million for the same period in 2020.
• The newly-acquired Mount Holly facility made an immediate contribution to Glatfelter's Airlaid segment.
• On July 22, Glatfelter announced the acquisition of Jacob Holm, a global leading manufacturer of premium quality spunlace nonwovens.

Headline financials

Revenue & EPS history

Glatfelter expects the benefit of their price increases to be more fully realized in the second half of 2021, further counteracting inflationary pressures in the Composite Fibers segment.