Glatfelter Corporation, together with its subsidiaries, manufactures and sells engineered materials worldwide. It operated through two segments, Composite Fibers and Airlaid Materials. The company's Composite Fibers segment offers food and beverage filtration materials for single-serve coffee and tea products; wallcover base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate, consisting of decorative laminates for use in furniture, household and commercial flooring, and other applications; and specialty engineered products, which are used in electrical energy storage, homecare, hygiene, and other engineered fiber-based applications. Its Advanced Airlaid Materials segment supplies absorbent cellulose-based airlaid nonwoven materials that are used to manufacture consumer products, such as feminine hygiene and other hygiene products, specialty wipes, tabletop, adult incontinence, home care, and other consumer and industrial products. The company markets its products directly, as well as through brokers and agents. The company was formerly known as P. H. Glatfelter Company. Glatfelter Corporation was founded in 1864 and is headquartered in Charlotte, North Carolina.
IPO Year: 2000
Exchange: NYSE
Website: glatfelter.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/26/2021 | $17.00 | Market Perform → Outperform | BMO Capital |
CHARLOTTE, N.C., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT) is pleased to announce the successful completion of the merger between Berry Global Group Inc.'s (NYSE:BERY) Health, Hygiene and Specialties Global Nonwovens and Films business (the "HHNF Business") and Glatfelter, resulting in the creation of Magnera (NYSE:MAGN) (pronounced ‘Mag-nair-uh'), the largest nonwovens company in the world, with a broad platform of solutions for the specialty materials industry. Magnera will begin trading on the NYSE under the new ticker symbol "MAGN" on Tuesday, November 5, 2024. Curt Begle, CEO of Magnera stated, "We are thrilled to announce the completion of this merger and t
2024 Third Quarter Highlights: Generated net sales of ~$332 million and a GAAP net loss from continuing operations of $20.0 millionDelivered Adjusted EBITDA of $24.6 million, compared to $25.5 million in Q3 2023Spunlace generated $4.8 million EBITDA despite hurricane downtime, a $2.5 million increase over Q3 '23Airlaid Materials achieved EBITDA of $18.0 million, a $0.7 million decrease from Q3 '23Composite Fibers delivered EBITDA of $10.1 million, a $1.1 million decrease from Q3 '23, due to new sanctions CHARLOTTE, N.C., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, today announced its financial results for the
Glatfelter Announces Reverse Stock Split Ratio and Anticipated Effective Date Glatfelter Corporation (NYSE:GLT) ("Glatfelter") and Berry Global Group, Inc. (NYSE:BERY) ("Berry") announced today that Glatfelter's shareholders have approved all matters relating to the merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF Business") with Glatfelter required to be approved by Glatfelter shareholders, as described in the proxy statement/prospectus provided to its shareholders in connection with the Special Meeting. At the Special Meeting of Glatfelter Shareholders held earlier today, Glatfelter shareholders voted to approve the share issuance proposal, th
CHARLOTTE, N.C. and EVANSVILLE, Ind., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT) ("Glatfelter") and Berry Global Group, Inc. (NYSE:BERY) ("Berry") announced today that Glatfelter's shareholders have approved all matters relating to the merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF Business") with Glatfelter required to be approved by Glatfelter shareholders, as described in the proxy statement/prospectus provided to its shareholders in connection with the Special Meeting. At the Special Meeting of Glatfelter Shareholders held earlier today, Glatfelter shareholders voted to approve the share issuance proposal, th
EVANSVILLE, Ind. and CHARLOTTE, N.C., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Berry has set a record date of the close of business on November 1, 2024 for the proposed spin-off of its Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF Business"). The spin-off and merger of Berry's HHNF Business with Glatfelter are expected to be completed on November 4, 2024, subject to the satisfaction or waiver of the closing conditions for the transaction. As previously announced, in connection with the merger, Glatfelter will effect a reverse stock split and change
Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Berry has set a record date of the close of business on November 1, 2024 for the proposed spin-off of its Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF Business"). The spin-off and merger of Berry's HHNF Business with Glatfelter are expected to be completed on November 4, 2024, subject to the satisfaction or waiver of the closing conditions for the transaction. As previously announced, in connection with the merger, Glatfelter will effect a reverse stock split and change its name to Magnera Corporation ("Magnera"). Subject to the satisfaction
EVANSVILLE, Ind. and CHARLOTTE, N.C., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Treasure Escrow Corporation (the "Issuer"), currently an indirect, wholly owned subsidiary of Berry, priced and upsized its previously announced offering to $800 million aggregate principle amount of its senior secured notes due 2031 (the "Notes"). The Notes are being offered by the Issuer in connection with the previously announced merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter, in a Reverse Morris Trust transaction (the "Transaction"). In conn
Notes to be Assumed by Magnera at Closing of the Transaction Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Treasure Escrow Corporation (the "Issuer"), currently an indirect, wholly owned subsidiary of Berry, priced and upsized its previously announced offering to $800 million aggregate principle amount of its senior secured notes due 2031 (the "Notes"). The Notes are being offered by the Issuer in connection with the previously announced merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter, in a Reverse Morris Trust transaction (the "Transaction"). In connection with
EVANSVILLE, Ind. and CHARLOTTE, N.C., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Berry's indirect, wholly-owned subsidiary, Treasure Escrow Corporation, a Delaware corporation (the "Issuer"), plans to issue $500,000,000 of senior secured notes due 2031 (the "Notes"). The proceeds from the offering are intended to be used to fund a portion of the cash distribution to Berry Global, Inc., a Delaware corporation and wholly-owned subsidiary of Berry, by Treasure Holdco, Inc., a Delaware corporation and an indirect, wholly-owned subsidiary of Berry ("Spinco"), in respect of the previ
Notes to be Assumed by Magnera at Closing Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Berry's indirect, wholly-owned subsidiary, Treasure Escrow Corporation, a Delaware corporation (the "Issuer"), plans to issue $500,000,000 of senior secured notes due 2031 (the "Notes"). The proceeds from the offering are intended to be used to fund a portion of the cash distribution to Berry Global, Inc., a Delaware corporation and wholly-owned subsidiary of Berry, by Treasure Holdco, Inc., a Delaware corporation and an indirect, wholly-owned subsidiary of Berry ("Spinco"), in respect of the previously announced combination of
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BMO Capital upgraded Glatfelter from Market Perform to Outperform and set a new price target of $17.00
BMO Capital reiterated coverage of Glatfelter with a rating of Market Perform and set a new price target of $17.00 from $19.00 previously
BMO Capital downgraded Glatfelter from Outperform to Market Perform and set a new price target of $19.00 from $21.00 previously
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~ Kevin M. Fogarty to serve as Non-Executive Chair of the Board of Directors for the proposed newly combined company ~ James M. Till to serve as Executive Vice President, Chief Financial Officer & Treasurer ~ Tarun Manroa to serve as Executive Vice President, Chief Operating Officer CHARLOTTE, N.C., April 11, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, in anticipation of the previously announced proposed merger of the majority of Berry Global's Health, Hygiene, and Specialties segment to include its Global Nonwovens and Films ("HHNF") business with Glatfelter, is pleased to announce today key leadership appointments, in
CHARLOTTE, N.C., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, today announced that Mr. Lee C. Stewart has resigned from the Company's Board of Directors, effective September 25, 2023, citing reasons unrelated to the Company for his departure. The Company noted that this resignation is not related to Glatfelter's operations, financial reporting or controls, or personal conduct. "On behalf of Glatfelter's Board of Directors and our management team, we thank Lee for his longstanding service and deep commitment to the Company," said Mr. Thomas Fahnemann, President and Chief Executive Officer. "We greatly appreciate th
CHARLOTTE, N.C., April 05, 2023 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, today announced that Mr. Boris Illetschko has been appointed to the role of Senior Vice President, Chief Operating Officer. He replaces the Company's current Senior Vice President, Chief Commercial Officer, Mr. Christopher W. Astley, and Senior Vice President, Integrated Global Supply Chain and IT, Mr. Wolfgang Laures, both of whom will leave the Company effective immediately. The Company noted that these changes are not related to Glatfelter's operations, financial reporting or controls, or personal conduct. "Since joining Glatfelter, I have assessed t
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2024 Third Quarter Highlights: Generated net sales of ~$332 million and a GAAP net loss from continuing operations of $20.0 millionDelivered Adjusted EBITDA of $24.6 million, compared to $25.5 million in Q3 2023Spunlace generated $4.8 million EBITDA despite hurricane downtime, a $2.5 million increase over Q3 '23Airlaid Materials achieved EBITDA of $18.0 million, a $0.7 million decrease from Q3 '23Composite Fibers delivered EBITDA of $10.1 million, a $1.1 million decrease from Q3 '23, due to new sanctions CHARLOTTE, N.C., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, today announced its financial results for the
~ Received Required Antitrust Regulatory Clearances and IRS ruling for Announced Merger ~~ Achieved Meaningful Year-over-Year EBITDA Improvement ~ 2024 Second Quarter Highlights: Generated net sales of ~$329 million and a GAAP net loss from continuing operations of $15.8 millionDelivered $25.6 million of Adjusted EBITDA, an $8.3 million increase over Q2 2023Achieved increased EBITDA over Q2 2023 in Composite Fibers and Spunlace by $4.9 million and $3.4 million, respectively, offset by lower EBITDA in Airlaid Materials by $2.3 million CHARLOTTE, N.C., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, today reported fi
CHARLOTTE, N.C., July 16, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT) announced today that it expects to issue its 2024 second-quarter results on Thursday, August 8, 2024. Management will hold a conference call at 11:00 AM (ET) that morning to discuss the Company's results. Glatfelter's earnings release and an accompanying financial supplement, which includes significant financial information to be discussed on the conference call, will be available on its Investor Relations website at https://www.glatfelter.com/investors/. What:Q2 2024 Glatfelter Earnings Conference Call When:Thursday, August 8, 2024, 11:00 a.m. (ET) Participant Dial-in Number:(323) 794-2423 (800) 289
~ Achieved significant merger milestone with expiration of HSR waiting period ~ 2024 First Quarter Highlights: Generated net sales of ~$327 million and a GAAP net loss from continuing operations of $26.2 millionAchieved Q1 Adjusted EBITDA of $23.8 million with an improved EBITDA margin of 7.3%Delivered continued robust Spunlace performance with ~$5 million improved EBITDAImproved Composite Fibers EBITDA by ~$2 million, consistent with expectationsRecorded ~$9 million lower EBITDA in Airlaid Materials primarily due to ongoing European market softness CHARLOTTE, N.C., May 09, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, tod
CHARLOTTE, N.C., April 04, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT) announced today that it expects to issue its 2024 first-quarter results on Thursday, May 9, 2024. Management will hold a conference call at 11:00 AM (ET) that morning to discuss the Company's results. Glatfelter's earnings release and an accompanying financial supplement, which includes significant financial information to be discussed on the conference call, will be available on its Investor Relations website at https://www.glatfelter.com/investors/. What: Q1 2024 Glatfelter Earnings Conference Call When: Thursday, May 9, 2024, 11:00 a.m. (ET) Participant Dial-in Number: (323) 794-2423 (800) 289-04
~ Q4 performance in-line with expectations despite reduced production to manage inventory levels ~~ Announced plans for Merger with Berry Global's HHNF business anticipated in second half of 2024 ~ 2023 Fourth Quarter and Year-end Highlights: Generated net sales of $320 million in Q4 and $1.4 billion in 2023; loss from continuing operations of $8.6 million in Q4 and $78.1 million in 2023Achieved Q4 Adjusted EBITDA of $25 million and full-year EBITDA of $93 million, in-line with Q3 performance and consistent with full year guidanceDelivered robust Spunlace performance with $5.7 million Adjusted EBITDA in Q4 and $11.2 million for full yearManaged effectively the impact of tornado damage at t
Combination creates a large-scale global franchise with an industry-leading solution set serving attractive, growing specialty materials markets Establishes leading positions in the high value-added categories within the specialty materials industry, served by differentiated innovation capabilities Transaction values the combined company at $3.6 billion on an enterprise value basis, with pro forma revenue of ~$3.6 billion and Adj. EBITDA (1) of ~$455 million Berry and Glatfelter shareholders to own 90% and 10% of the combined company, respectively. Berry to receive an approximate net $1 billion cash distribution at closing Enhances earnings power with secular rebound and expected co
CHARLOTTE, N.C., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT) announced today that it expects to issue its 2023 fourth-quarter results on Thursday, February 22, 2024. Management will hold a conference call at 11:00 AM (ET) that morning to discuss the Company's results. Glatfelter's earnings release and an accompanying financial supplement, which includes significant financial information to be discussed on the conference call, will be available on its Investor Relations website at https://www.glatfelter.com/investors. What:Q4 2023 Glatfelter Earnings Conference Call When:Thursday, February 22, 2024, 11:00 a.m. (ET) Participant Dial-in Number:(323) 794-2423 (800) 2
2023 Third Quarter Overview: Generated net sales of ~$330 million and a GAAP net loss from continuing operations of $19.7 millionDelivered strong sequential recovery of Adjusted EBITDA of $25.5 million following one-time Q2 adverse eventsImproved earnings from Turnaround Strategy, delivering highest EBITDA margin of last eight quartersDivested Ober-Schmitten site, eliminating future lossesLowered full-year EBITDA guidance by $10 million due to ongoing industry-wide market weakness, lower volumes and continued customer destocking CHARLOTTE, N.C., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, today reported financial
CHARLOTTE, N.C., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT) announced today that it expects to issue its 2023 third-quarter results on Thursday, November 2, 2023. Management will hold a conference call at 11:00 AM (ET) that morning to discuss the Company's results. Glatfelter's earnings release and an accompanying financial supplement, which includes significant financial information to be discussed on the conference call, will be available on its Investor Relations website at https://www.glatfelter.com/investors/. What:Q3 2023 Glatfelter Earnings Conference Call When:Thursday, November 2, 2023, 11:00 a.m. (ET) Participant Dial-in Number:(323) 794-2551(800) 239