Tredegar Stock Price, News & Analysis

Tredegar Corporation (NYSE:TG) is set to announce its Q2 2022 financial results on August 8, 2022. The company specializes in three primary areas: custom aluminum extrusions for North American construction and automotive markets, surface protection films for the electronics industry, and specialized polyester films for flexible packaging in Latin America. Tredegar reported $826 million in sales from continuing operations in 2021 and employs about 2,400 staff across its manufacturing facilities in North America, South America, and Asia.

Tredegar Corporation (NYSE:TG) reported a strong first quarter for 2022, with net income from continuing operations increasing to $16.5 million ($0.49 per diluted share), up from $9.6 million ($0.29 per diluted share) in Q1 2021. EBITDA from ongoing operations rose significantly to $23.9 million for Aluminum Extrusions, despite lower sales volume. Challenges included labor shortages and supply chain issues. Debt increased by $63.2 million, largely due to a $50 million pension plan contribution. Overall, the company remains optimistic with high booking levels and ongoing efforts to recover from prior sales declines.

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.