Welcome to our dedicated page for Tredegar news (Ticker: TG), a resource for investors and traders seeking the latest updates and insights on Tredegar stock.
Tredegar Corporation reports developments across an industrial manufacturing business built around Aluminum Extrusions and High Performance Films. Its aluminum operations, conducted through Bonnell Aluminum, produce custom-fabricated and finished extrusions for building and construction, automotive, transportation, consumer durables, machinery and equipment, electrical, renewable energy and distribution markets.
Recurring TG news includes quarterly and annual operating results, segment demand trends, non-GAAP reconciliations, operational productivity initiatives, and product or market commentary such as TSLOTS aluminum framing systems. Company updates also cover High Performance Films, surface protection films for high-technology electronics applications, board and executive leadership changes, and Bonnell Aluminum commercial leadership developments.
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Tredegar Corporation (NYSE:TG) will hold its 2023 annual meeting of shareholders virtually on May 4, 2023, at 9:00 a.m. EDT. Shareholders of record by March 10, 2023 can participate online, vote, and ask questions. Financial results for Q1 2023 are set to be released on May 8, 2023. Registration for the meeting must be completed by May 3, 2023, and shareholders are encouraged to vote beforehand. The meeting allows guests to listen in but not participate in the vote or ask questions. Tredegar, an industrial manufacturer, reported $939 million in sales for 2022 and employs around 2,200 people across operations in North America, South America, and Asia.
Bonnell Aluminum, a subsidiary of Tredegar Corporation (NYSE: TG), is expanding its TSLOTS line of aluminum structural framing systems into the Southeastern U.S. with a new facility in Newnan, Georgia. This expansion follows a successful Midwest investment in 2021. The TSLOTS system enables manufacturers to create lightweight, durable structures using custom T-slotted aluminum extrusions. The new site will enhance customer access, reduce shipping costs, and shorten lead times. Bonnell Aluminum continues to provide project design assistance, fabrication, and assembly for its clients.
Tredegar Corporation (NYSE:TG) reported mixed fourth quarter and full-year financial results for 2022. The company faced a significant net loss from continuing operations of $(3.9) million in Q4 2022 compared to a profit of $21.4 million in Q4 2021. For the full year, net income dropped to $28.4 million from $57.9 million in 2021. EBITDA saw declines in key segments like Aluminum Extrusions and PE Films due to lower sales volumes and increased costs, although Flexible Packaging Films performed positively. Tredegar's debt rose by $75 million in 2022. The company anticipates a return to profitability in Q1 2023, despite ongoing challenges in demand.
The board of directors of Tredegar Corporation (NYSE:TG) has declared a quarterly dividend of $0.13 per share on the company's common stock. The dividend is set to be payable on April 1, 2023, to shareholders of record as of March 24, 2023. Tredegar operates in multiple sectors including custom aluminum extrusions, surface protection films, and specialized polyester films, with reported sales of $826 million in 2021. The company employs approximately 2,300 individuals across its manufacturing facilities in North America, South America, and Asia.