Glatfelter Reports Second Quarter 2022 Results
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.
- Q2 2022 net sales increased to $364.0 million, up from $244.9 million in Q2 2021.
- Airlaid Materials segment achieved a 39.1% increase in net sales, driven by higher shipments and selling prices.
- Loss from continuing operations of $2.5 million, compared to a profit in the same quarter last year.
- Spunlace segment experienced operating loss of $1.8 million due to inflation and supply chain disruptions.
CHARLOTTE, N.C., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, today reported a loss from continuing operations for the second quarter of 2022 of
Consolidated net sales for the three months ended June 30, 2022 and 2021, totaled
“In the second quarter, we outperformed operating profit expectations at the enterprise level driven by Composite Fibers and Airlaid Materials, however, we were disappointed with our Spunlace segment results,” said Dante C. Parrini, Chairman and Chief Executive Officer. “By intensifying efforts to mitigate inflationary pressures, we were successfully able to increase prices, drive operational efficiencies and tightly manage spending in the Composite Fibers and Airlaid Materials segments. Since announcing our dynamic pricing model initiative for the Composite Fibers segment in early 2022, we successfully converted
Mr. Parrini continued, “Our Spunlace segment faced substantially higher than expected inflationary challenges during the quarter and our price increases were insufficient to offset the impact. Supply chain disruptions also affected raw material availability, which curtailed production and product shipments. As a result, the segment was unable to sufficiently narrow the price/cost gap for its products primarily due to the impact of rising energy prices in Europe and the impact of higher oil prices on certain raw materials. We recently took aggressive cost actions to further right-size the legacy Jacob Holm leadership team and more deeply integrate the segment into our existing operating model, while concurrently implementing additional pricing actions to counteract inflation. Despite the near-term challenges in this segment, we remain committed to its success and the strategic purpose it contributes to the Glatfelter portfolio.”
Mr. Parrini concluded, “In response to the challenging business environment that we anticipate will continue at least for the remainder of 2022, we remain keenly focused on improving Spunlace performance and executing an intensive enterprise-wide initiative aimed at rapidly improving Glatfelter's overall profitability and execution capacity. Additionally, we are closely monitoring the Russia/Ukraine conflict, the complexities and risks with the energy situation in Europe and the ongoing inflation trends to determine the necessary actions needed to bolster our performance while continuing to serve our customers. Finally, as we navigate this ongoing period of unprecedented market and geopolitical turbulence, we remain confident that the Company's reshaped portfolio of engineered materials, used to produce essential consumer staples, will successfully deliver strong growth and more stable profitability over the long-term.”
Second Quarter Results
The following table sets forth a reconciliation of results on a GAAP basis to an adjusted earnings basis, a non-GAAP measure:
Three months ended June 30, | |||||||||||||||
2022 | 2021 | ||||||||||||||
In thousands, except per share | Amount | EPS | Amount | EPS | |||||||||||
Net income (loss) | $ | (2,052 | ) | $ | (0.04 | ) | $ | 1,410 | $ | 0.03 | |||||
Exclude: Loss (income) from discontinued operations, net | (408 | ) | (0.01 | ) | 82 | — | |||||||||
Income (loss) from continuing operations | (2,460 | ) | (0.05 | ) | 1,492 | 0.03 | |||||||||
Adjustments(pre-tax): | |||||||||||||||
Strategic initiatives(1) | 653 | 7,831 | |||||||||||||
Corporate headquarters relocation | 135 | 206 | |||||||||||||
Timberland sales and related costs | — | (1,553 | ) | ||||||||||||
Total adjustments(pre-tax) | 788 | 6,484 | |||||||||||||
Income taxes(2) | (20 | ) | (50 | ) | |||||||||||
CARES Act of 2020 tax provision(3) | 96 | 90 | |||||||||||||
Total after-tax adjustments | 864 | 0.01 | 6,524 | 0.15 | |||||||||||
Adjusted earnings (loss) from continuing operations | $ | (1,596 | ) | $ | (0.04 | ) | $ | 8,016 | $ | 0.18 |
(1) For 2022, primarily reflects professional services fees (including legal, audit, valuation specialists and consulting) of
(2) Tax effect on adjustments calculated based on the incremental effective tax rate of the jurisdiction in which each adjustment originated. For items originating in the U.S., no tax effect is recognized due to the previously established valuation allowance on the net deferred tax assets.
(3) Reflects the tax effect of applying certain provisions of the CARES Act of 2020.
A description of each of the adjustments presented above is included later in this release.
Composite Fibers
Three months ended June 30, | ||||||||||||||
Dollars in thousands | 2022 | 2021 | Change | |||||||||||
Tons shipped(metric) | 24,246 | 34,471 | (10,225 | ) | (29.7) % | |||||||||
Net sales | $ | 123,338 | $ | 141,598 | $ | (18,260 | ) | (12.9) % | ||||||
Operating income | 5,779 | 11,063 | (5,284 | ) | (47.8) % | |||||||||
Operating margin | 4.7 | % | 7.8 | % |
Composite Fibers’ net sales decreased
Composite Fibers had operating income for the second quarter of
Airlaid Materials
Three months ended June 30, | ||||||||||||||
Dollars in thousands | 2022 | 2021 | Change | |||||||||||
Tons shipped(metric) | 40,681 | 34,315 | 6,366 | 18.6 | % | |||||||||
Net sales | $ | 143,708 | $ | 103,313 | $ | 40,395 | 39.1 | % | ||||||
Operating income | 11,944 | 8,431 | 3,513 | 41.7 | % | |||||||||
Operating margin | 8.3 | % | 8.2 | % |
Airlaid Materials’ net sales increased
Airlaid Materials’ second quarter operating income of
Spunlace
Three months ended June 30, | ||||||||||||||
Dollars in thousands | 2022 | 2021 | Change | |||||||||||
Tons shipped(metric) | 19,358 | — | 19,358 | — | ||||||||||
Net sales | $ | 96,917 | $ | — | $ | 96,917 | $ | — | ||||||
Operating loss | (1,808 | ) | — | (1,808 | ) | — | ||||||||
Operating margin | (1.9 | )% |
Spunlace had an operating loss of
Other Financial Information
The amount of operating expense not allocated to a reporting segment in the Segment Financial Information totaled
In the second quarter of 2022, our pre-tax income from continuing operations totaled
Year-to-Date Results
The following table sets forth a reconciliation of results on a GAAP basis to an adjusted earnings basis, a non-GAAP measure:
Six months ended June 30, | |||||||||||||||
2022 | 2021 | ||||||||||||||
In thousands, except per share | Amount | EPS | Amount | EPS | |||||||||||
Net income (loss) | $ | (110,379 | ) | $ | (2.46 | ) | $ | 9,804 | $ | 0.22 | |||||
Exclude: Loss (income) from discontinued operations, net | (371 | ) | (0.01 | ) | 82 | — | |||||||||
Income (loss) from continuing operations | (110,750 | ) | (2.47 | ) | 9,886 | 0.22 | |||||||||
Adjustments(pre-tax): | |||||||||||||||
Goodwill and other asset impairment charges(1) | 117,349 | — | |||||||||||||
Russia/Ukraine conflict charges(2) | 3,948 | — | |||||||||||||
Strategic initiatives(3) | 2,488 | 8,434 | |||||||||||||
Corporate headquarters relocation | 223 | 361 | |||||||||||||
Cost optimization actions(4) | 941 | — | |||||||||||||
Timberland sales and related costs | (2,962 | ) | (2,403 | ) | |||||||||||
Total adjustments(pre-tax) | 121,987 | 6,392 | |||||||||||||
Income taxes(5) | (19,167 | ) | 31 | ||||||||||||
CARES Act of 2020 tax provision(6) | 175 | 183 | |||||||||||||
Total after-tax adjustments | 102,995 | 2.30 | 6,606 | 0.15 | |||||||||||
Adjusted earnings (loss) from continuing operations | $ | (7,755 | ) | $ | (0.17 | ) | $ | 16,492 | $ | 0.37 |
(1) Reflects goodwill impairment charge of
(2) Reflects bad debt expense charges of
(3) For 2022, primarily reflects professional services fees (including legal, audit, valuation specialists and consulting) of
(4) Primarily reflects employee separation costs of
(5) Tax effect on adjustments calculated based on the incremental effective tax rate of the jurisdiction in which each adjustment originated. For items originating in the U.S., no tax effect is recognized due to the previously established valuation allowance on the net deferred tax assets. No tax effects were recognized on the goodwill impairment as there were no related deferred taxes.
(6) Reflects the tax effect of applying certain provisions of the CARES Act of 2020.
Balance Sheet and Other Information
Cash and cash equivalents totaled
Capital expenditures during the first six months of 2022 and 2021, totaled
Conference Call
As previously announced, the Company will hold a conference call today at 11:00 a.m. (Eastern) to discuss its second quarter results. The Company will make available on its Investor Relations website this quarter’s earnings release and an accompanying financial presentation that includes additional financial information to be discussed on the conference call including the Company’s outlook pertaining to financial performance. Information related to the conference call is as follows:
What: | Glatfelter’s 2nd Quarter 2022 Earnings Release Conference Call | |
When: | Tuesday, August 2, 2022, 11:00 a.m. (ET) | |
Dial-in Number: | US dial (888) 504-7949 | |
International dial (929) 477-0336 | ||
Conference ID: | 296950 | |
Webcast: | https://www.glatfelter.com/investors/webcasts-and-presentations/ | |
Rebroadcast Dates: | August 2, 2022, 15:00 through August 16, 2022, 23:59 | |
Rebroadcast Registration: | Audio Replay | |
Conference ID: | 8860032 |
Interested persons who wish to hear the live webcast should go to the website prior to the starting time to register and ensure any necessary audio software is installed.
Glatfelter Corporation and subsidiaries
Consolidated Statements of Income
(unaudited)
Three months ended June 30, | Six months ended June 30, | ||||||||||||||
In thousands, except per share | 2022 | 2021 | 2022 | 2021 | |||||||||||
Net sales | $ | 363,963 | $ | 244,911 | $ | 745,643 | $ | 470,585 | |||||||
Costs of products sold | 326,566 | 209,357 | 676,581 | 395,735 | |||||||||||
Gross profit | 37,397 | 35,554 | 69,062 | 74,850 | |||||||||||
Selling, general and administrative expenses | 28,400 | 28,984 | 61,566 | 51,811 | |||||||||||
Goodwill and other asset impairment charges | — | — | 117,349 | — | |||||||||||
Loss (gains) on dispositions of plant, equipment and timberlands, net | 73 | (1,553 | ) | (2,888 | ) | (2,403 | ) | ||||||||
Operating income (loss) | 8,924 | 8,123 | (106,965 | ) | 25,442 | ||||||||||
Non-operating income (expense) | |||||||||||||||
Interest expense | (7,672 | ) | (1,772 | ) | (15,534 | ) | (3,303 | ) | |||||||
Interest income | 38 | 11 | 55 | 31 | |||||||||||
Other, net | (455 | ) | (849 | ) | (1,795 | ) | (1,073 | ) | |||||||
Total non-operating expense | (8,089 | ) | (2,610 | ) | (17,274 | ) | (4,345 | ) | |||||||
Income (loss) from continuing operations before income | 835 | 5,513 | (124,239 | ) | 21,097 | ||||||||||
Income tax provision (benefit) | 3,295 | 4,021 | (13,489 | ) | 11,211 | ||||||||||
Income (loss) from continuing operations | (2,460 | ) | 1,492 | (110,750 | ) | 9,886 | |||||||||
Discontinued operations: | |||||||||||||||
Income (loss) before income taxes | 408 | (82 | ) | 371 | (82 | ) | |||||||||
Income tax provision | — | — | — | — | |||||||||||
Income (loss) from discontinued operations | 408 | (82 | ) | 371 | (82 | ) | |||||||||
Net income (loss) | $ | (2,052 | ) | $ | 1,410 | $ | (110,379 | ) | $ | 9,804 | |||||
Basic earnings per share | |||||||||||||||
Income (loss) from continuing operations | $ | (0.05 | ) | $ | 0.03 | $ | (2.47 | ) | $ | 0.22 | |||||
Income from discontinued operations | 0.01 | — | 0.01 | — | |||||||||||
Basic earnings (loss) per share | $ | (0.04 | ) | $ | 0.03 | $ | (2.46 | ) | $ | 0.22 | |||||
Diluted earnings per share | |||||||||||||||
Income (loss) from continuing operations | $ | (0.05 | ) | $ | 0.03 | $ | (2.47 | ) | $ | 0.22 | |||||
Income from discontinued operations | 0.01 | — | 0.01 | — | |||||||||||
Diluted earnings (loss) per share | $ | (0.04 | ) | $ | 0.03 | $ | (2.46 | ) | $ | 0.22 | |||||
Weighted average shares outstanding | |||||||||||||||
Basic | 44,841 | 44,563 | 44,775 | 44,507 | |||||||||||
Diluted | 44,841 | 44,872 | 44,775 | 44,865 |
Segment Financial Information
(unaudited)
Three months ended June 30, | Six months ended June 30, | ||||||||||||||
In thousands, except per share | 2022 | 2021 | 2022 | 2021 | |||||||||||
Net Sales | |||||||||||||||
Composite Fibers | $ | 123,338 | $ | 141,598 | $ | 259,167 | $ | 282,847 | |||||||
Airlaid Material | 143,708 | 103,313 | 293,172 | 187,738 | |||||||||||
Spunlace | 96,917 | — | 193,304 | — | |||||||||||
Total | $ | 363,963 | $ | 244,911 | $ | 745,643 | $ | 470,585 | |||||||
Operating income (loss) | |||||||||||||||
Composite Fibers | $ | 5,779 | $ | 11,063 | $ | 5,444 | $ | 27,128 | |||||||
Airlaid Material | 11,944 | 8,431 | 24,165 | 15,628 | |||||||||||
Spunlace | (1,808 | ) | — | (3,380 | ) | — | |||||||||
Other and unallocated | (6,991 | ) | (11,371 | ) | (133,194 | ) | (17,314 | ) | |||||||
Total | $ | 8,924 | $ | 8,123 | $ | (106,965 | ) | $ | 25,442 | ||||||
Depreciation and amortization | |||||||||||||||
Composite Fibers | $ | 4,796 | $ | 7,000 | $ | 11,315 | $ | 13,981 | |||||||
Airlaid Material | 7,542 | 6,767 | 15,171 | 12,615 | |||||||||||
Spunlace | 2,945 | — | 5,859 | — | |||||||||||
Other and unallocated | 1,169 | 966 | 2,591 | 1,870 | |||||||||||
Total | $ | 16,452 | $ | 14,733 | $ | 34,936 | $ | 28,466 | |||||||
Capital expenditures | |||||||||||||||
Composite Fibers | $ | 4,131 | $ | 2,882 | $ | 10,258 | $ | 5,655 | |||||||
Airlaid Material | 2,064 | 1,297 | 5,532 | 3,036 | |||||||||||
Spunlace | 1,801 | — | 3,886 | — | |||||||||||
Other and unallocated | 2,353 | 1,653 | 3,021 | 2,520 | |||||||||||
Total | $ | 10,349 | $ | 5,832 | $ | 22,697 | $ | 11,211 | |||||||
Tons shipped (metric) | |||||||||||||||
Composite Fibers | 24,246 | 34,471 | 52,457 | 68,611 | |||||||||||
Airlaid Material | 40,681 | 34,315 | 83,733 | 63,179 | |||||||||||
Spunlace | 19,358 | — | 40,094 | — | |||||||||||
Total | 84,285 | 68,786 | 176,284 | 131,790 |
Selected Financial Information
(unaudited)
Six months ended June 30, | ||||||||
In thousands | 2022 | 2021 | ||||||
Cash Flow Data | ||||||||
Cash from continuing operations provided (used) by: | ||||||||
Operating activities | $ | (79,535 | ) | $ | 1,365 | |||
Investing activities | (18,136 | ) | (181,136 | ) | ||||
Financing activities | 33,546 | 165,138 | ||||||
Depreciation, depletion and amortization | 34,936 | 28,466 | ||||||
Capital expenditures | (22,697 | ) | (11,211 | ) |
June 30, 2022 | December 31, 2021 | ||||
Balance Sheet Data | |||||
Cash and cash equivalents | $ | 71,476 | $ | 138,436 | |
Total assets | 1,697,290 | 1,880,607 | |||
Total debt | 811,753 | 787,355 | |||
Shareholders’ equity | 389,922 | 542,762 |
Reconciliation of GAAP Financial Information to Non-GAAP Financial Information
This press release includes a measure of earnings before the effects of certain specifically identified items, which is referred to as adjusted earnings, a non-GAAP measure. The Company uses non-GAAP adjusted earnings to supplement the understanding of its consolidated financial statements presented in accordance with GAAP. Non-GAAP adjusted earnings is meant to present the financial performance of the Company’s core operations, which consist of the production and sale of engineered materials. Management and the Company’s Board of Directors use non-GAAP adjusted earnings to evaluate the performance of the Company’s fundamental business in relation to prior periods and established business plans. For purposes of determining adjusted earnings, the following items are excluded:
- Strategic initiatives. These adjustments primarily reflect professional and legal fees incurred directly related to evaluating and executing certain strategic initiatives including costs associated with acquisitions, related integrations and charges incurred to step-up acquired inventory to fair-value.
- Corporate headquarters relocation. These adjustments reflect costs incurred in connection with the strategic relocation of the Company’s corporate headquarters to Charlotte, NC. The costs are primarily related to employee relocation costs and exit costs at the former corporate headquarters.
- Cost optimization actions. These adjustments reflect charges incurred in connection with initiatives to optimize the cost structure of the Company, improve efficiencies or other objectives. Such actions may include asset rationalization, headcount reductions or similar actions. These adjustments, which have occurred at various times in the past, are irregular in timing and relate to specific identified programs to reduce or optimize the cost structure of a particular operating segment or the corporate function.
- Goodwill and Other Asset Impairment Charge. This adjustment represents a non-cash charge recorded to reduce the carrying amount of certain long-lived assets, intangible assets and goodwill of our Dresden facility and the Composite Fibers reporting segment. The impairment was directly related to the adverse impact of the Russia/Ukraine military conflict on our projected revenue and EBITDA.
- Russia / Ukraine conflict charges. This adjustment represents a non-cash charge recorded to reduce the carrying amount of accounts receivable and inventory directly related to the Russia/Ukraine military conflict.
- Timberland sales and related costs. These adjustments exclude gains from the sales of timberlands as these items are not considered to be part of our core business, ongoing results of operations or cash flows. These adjustments are irregular in timing and amount and may benefit our operating results.
- Coronavirus Aid, Relief, and Economic Security (CARES) Act 2020. This adjustment reflects taxes recorded in connection with passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES”) related to provisions that modified the “net operating loss” provisions of previous law to allow certain losses to be carried back five years.
Unlike net income determined in accordance with GAAP, non-GAAP adjusted earnings does not reflect all charges and gains recorded by the Company for the applicable period and, therefore, does not present a complete picture of the Company’s results of operations for the respective period. However, non-GAAP adjusted earnings provide a measure of how the Company’s core operations are performing, which management believes is useful to investors because it allows comparison of such operations from period to period. Non-GAAP adjusted earnings should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with GAAP.
Calculation of Adjusted Free Cash Flow In thousands | Six months ended June 30, | |||||||
2022 | 2021 | |||||||
Cash from operations | $ | (79,535 | ) | $ | 1,365 | |||
Capital expenditures | (22,697 | ) | (11,211 | ) | ||||
Free cash flow | (102,232 | ) | (9,846 | ) | ||||
Adjustments: | ||||||||
Strategic initiatives | 2,509 | 1,573 | ||||||
Cost optimization actions | 1,130 | 1,640 | ||||||
Restructuring charge - metallized operations | — | 1,252 | ||||||
Corporate headquarters relocation | (430 | ) | 784 | |||||
Fox River environmental matter | 1,440 | 775 | ||||||
Tax payments (refunds) on adjustments to adjusted earnings | 2,547 | (976 | ) | |||||
Adjusted free cash flow | $ | (95,036 | ) | $ | (4,798 | ) |
Net Debt In thousands | June 30, 2022 | December 31, 2021 | ||||||
Short-term debt | $ | 10,610 | $ | 22,843 | ||||
Current portion of long-term debt | 22,117 | 26,437 | ||||||
Long term debt | 779,026 | 738,075 | ||||||
Total | 811,753 | 787,355 | ||||||
Less: Cash | (71,476 | ) | (138,436 | ) | ||||
Net Debt | $ | 740,277 | $ | 648,919 |
Adjusted EBITDA | Six months ended June 30, | Trailing twelve months ended June 30, 2022 | Year ended December 31, 2021 | |||||||||||||
In thousands | 2022 | 2021 | ||||||||||||||
Net income (loss) | $ | (110,379 | ) | $ | 9,804 | $ | (113,246 | ) | $ | 6,937 | ||||||
Exclude: Loss (income) from discontinued operations, net of tax | (371 | ) | 82 | (669 | ) | (216 | ) | |||||||||
Add back: Taxes on continuing operations | (13,489 | ) | 11,211 | (17,744 | ) | 6,956 | ||||||||||
Depreciation and amortization | 34,936 | 28,466 | 67,891 | 61,421 | ||||||||||||
Interest expense, net | 15,479 | 3,272 | 24,487 | 12,280 | ||||||||||||
EBITDA | (73,824 | ) | 52,835 | (39,281 | ) | 87,378 | ||||||||||
Adjustments: | ||||||||||||||||
Goodwill and other asset impairment charges | 117,349 | — | 117,349 | — | — | |||||||||||
Russia/Ukraine conflict charges | 3,948 | — | 3,948 | — | ||||||||||||
Strategic initiatives | 2,488 | 8,434 | 24,982 | 30,928 | ||||||||||||
Share-based compensation(1) | 2,419 | 2,537 | 4,945 | 5,063 | ||||||||||||
Corporate headquarters relocation | 223 | 361 | 447 | 585 | ||||||||||||
Cost optimization actions | 589 | — | 1,474 | 885 | ||||||||||||
Timberland sales and related costs | (2,962 | ) | (2,403 | ) | (5,798 | ) | (5,239 | ) | ||||||||
Adjusted EBITDA | $ | 50,230 | $ | 61,764 | $ | 108,066 | $ | 119,600 |
(1) Adjusted EBITDA for 2021 has been restated to add back share-based compensation consistent with our amended credit agreement. The share-based compensation adjustment represents the non-cash amount of share-based compensation expense included in results of operations.
Caution Concerning Forward-Looking Statements
Any statements included in this press release that pertain to future financial and business matters are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The Company uses words such as “anticipates”, “believes”, “expects”, “future”, “intends”, “plans”, “targets”, and similar expressions to identify forward-looking statements. Any such statements are based on the Company’s current expectations and are subject to numerous risks, uncertainties and other unpredictable or uncontrollable factors that could cause future results to differ materially from those expressed in the forward-looking statements. The risks, uncertainties and other unpredictable or uncontrollable factors are described in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”) in the Risk Factors section and under the heading “Forward-Looking Statements” in the Company’s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are available on the SEC’s website at www.sec.gov. In light of these risks, uncertainties and other factors, the forward-looking matters discussed in this press release may not occur and readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation, and does not intend, to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release.
About Glatfelter
Glatfelter is a leading global supplier of engineered materials with a strong focus on innovation and sustainability. The Company’s high quality, technology-driven, innovative, and customizable nonwovens solutions can be found in products that are Enhancing Everyday Life®. These include personal care and hygiene products, food and beverage filtration, critical cleaning products, medical and personal protection, packaging products, as well as home improvement and industrial applications. Headquartered in Charlotte, NC, the Company’s 2021 net sales were
Contacts: | |
Investors: | Media: |
Ramesh Shettigar | Eileen L. Beck |
(717) 225-2746 | (717) 225-2793 |
ramesh.shettigar@glatfelter.com | eileen.beck@glatfelter.com |
FAQ
What were Glatfelter's Q2 2022 earnings results?
How did Glatfelter's net sales perform in Q2 2022?
What challenges did Glatfelter face in the Spunlace segment during Q2 2022?
Which segment contributed positively to Glatfelter's sales in Q2 2022?