Glatfelter Corporation Stock Price, News & Analysis

Glatfelter Corporation (GLT) reported its Q3 2020 results, revealing a net income of $6.5 million ($0.15 per share) compared to $12.2 million ($0.28 per share) in Q3 2019. Consolidated net sales rose to $233.5 million from $232.5 million. Despite a 0.5% decline in Composite Fibers and a 6.4% drop in Airlaid Materials sales, airlaid profitability improved due to a rebound in product demand. The company highlighted operational excellence amid challenges. However, adjusted earnings fell to $7 million from $9.7 million year-over-year, signaling concerns about future performance.

Glatfelter (NYSE: GLT) announced the election of Darrel Hackett to its Board of Directors, effective November 1, 2020. Hackett, currently President at Bank of Montreal (BMO) Wealth Management – U.S., brings extensive leadership experience in wealth management, having held various roles at BMO since 2004. Chairman Dante C. Parrini expressed confidence that Hackett's expertise in capital markets will aid Glatfelter's transformation into a higher-margin, growth-focused engineered materials company.

Glatfelter Corporation (NYSE: GLT) announced a postponement of its 3rd quarter earnings release to November 9, 2020, following feedback from shareholders regarding the initial timing coinciding with U.S. Election Day. The scheduled conference call will occur at 11:00 AM (ET) to discuss the Company’s results. Key financial information will be made available on their website ahead of the call, ensuring stakeholders are informed. This decision reflects Glatfelter's commitment to transparent communication with its investors.

Glatfelter Corporation (NYSE: GLT) announced its 2020 third-quarter results will be released on November 3, 2020, with a conference call scheduled for 11:00 AM ET. Investors can access the earnings release and financial supplement on the Investor Relations website. The conference can be attended via US dial (888) 335-5539 or international dial (973) 582-2857, with a conference ID of 5797672. The call will be available for rebroadcast from November 3 at 2:00 PM until November 17 at 11:59 PM.

The Company is headquartered in Charlotte, NC, with annualized net sales of approximately $925 million.

P. H. Glatfelter Company (NYSE: GLT) has officially changed its name to Glatfelter Corporation, reflecting its transformation into a leading global engineered materials provider. The company has also completed the construction of its new corporate headquarters in Charlotte, North Carolina. This strategic rebranding aims to strengthen its market position and growth objectives. The new headquarters will be at 4350 Congress Street, Suite 600, Charlotte, NC, effective immediately. Trading under the new name is anticipated to begin on October 6, 2020.

Glatfelter (NYSE: GLT) has declared a cash dividend of $0.135 per share on its common stock, to be paid on November 2, 2020. Shareholders on record as of the close of business on October 5, 2020 will receive this dividend. Headquartered in York, PA, Glatfelter specializes in engineered materials with an annual net sales of approximately $925 million. The company operates eleven manufacturing facilities internationally, serving over 100 countries with around 2,600 employees.

Glatfelter (GLT) reported a challenging second quarter of 2020, posting a net loss of $2.4 million or $0.05 per share, down from a profit of $5.8 million or $0.13 per share in Q2 2019. Adjusted earnings improved to $9.9 million or $0.22 per share, from $8.5 million or $0.19 per share year-over-year. Despite a 7.9% drop in net sales to $216.2 million, strong demand for essential products in the Composite Fibers and Airlaid Materials segments helped maintain profitability. The company also increased its dividend, reflecting confidence in its resilient business model amidst ongoing operational challenges due to the pandemic.

Glatfelter (NYSE: GLT) announced that its CEO, Dante C. Parrini, will present at the Jefferies Virtual Industrials Conference on August 6, 2020, at 2:25 p.m. (EDT). This invitation-only event will be followed by one-on-one virtual meetings with investors. Attendees can view the accompanying slide presentation on the Company’s Investor Relations page. Glatfelter, a leader in engineered materials, reported annualized net sales of approximately $925 million and operates globally with around 2,600 employees.