Tredegar Stock Price, News & Analysis

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.

Tredegar Corporation (NYSE:TG) reported a net income of $6.2 million (0.19 per diluted share) for Q3 2021, contrasting with a net loss of $17.0 million in Q3 2020. Net income from ongoing operations decreased to $7.2 million compared to $13.2 million in the prior year. EBITDA from Aluminum Extrusions fell by $4.5 million, while PE Films saw a $1.2 million decline. The Company cited labor shortages impacting production capacity and anticipates a $6 million profitability erosion in PE Films due to competitive pressures. Total debt reduced to $127 million by September 2021.

The board of directors of Tredegar Corporation (NYSE:TG) has declared a quarterly dividend of $0.12 per share on its common stock, with a payment date set for January 1, 2022. Shareholders on record by the close of business on December 17, 2021 will be eligible for the dividend. Tredegar operates in three primary sectors: custom aluminum extrusions, surface protection films, and specialized polyester films. In 2020, the company reported $755 million in sales from continuing operations.

Tredegar Corporation (NYSE:TG) reported a net income of $20.7 million ($0.61 per diluted share) for Q2 2021, up from $14.3 million ($0.43 per diluted share) in Q2 2020. Ongoing operations net income was stable at $16.1 million ($0.48 per diluted share). EBITDA from Aluminum Extrusions rose to $19.7 million, while PE Films suffered a $6.5 million decline. Despite challenges like labor shortages and supply chain disruptions, current bookings and backlog are at record levels. Debt decreased by $22 million to under $100 million, signaling strong cash generation.

Tredegar Corporation (NYSE:TG) has declared a quarterly dividend of $0.12 per share, payable on October 1, 2021, to shareholders of record by September 17, 2021. The company, engaged in custom aluminum extrusions, surface protection films, and specialized polyester films, reported $755 million in sales from continuing operations in 2020. With around 2,400 employees, Tredegar operates manufacturing facilities across North America, South America, and Asia.

Tredegar Surface Protection, a subsidiary of Tredegar Corporation (NYSE:TG), is introducing a resin index-based pricing plan affecting all products due to significant price increases and supply challenges for polyethylene and polypropylene resin. Effective July 1, 2021, this pricing model allows for potential decreases if resin prices drop. Dr. Bapi DasGupta highlighted that resin prices have doubled over the past year, exacerbated by tight supply conditions from force majeure events and COVID-19-related delays. Tredegar remains committed to cost-control measures and ensuring product quality.