Glatfelter Corp Files Q3 2024 10-Q Report

TL;DR

Glatfelter's Q3 2024 10-Q is in. Check financials.

AI Summary

Glatfelter Corp filed its Q3 2024 10-Q report on October 30, 2024, covering the period ending September 30, 2024. The report details the company's financial performance and position for the third quarter and the first nine months of the year. Key financial data and disclosures relevant to investors are included.

Why It Matters

This filing provides crucial financial insights into Glatfelter Corp's performance for the third quarter of 2024, allowing investors to assess the company's health and make informed decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant positive or negative trends impacting the company's stock.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of 2024)
• 2024-09-30 — As of Date (End of the fiscal quarter)

Key Players & Entities

• Glatfelter Corp (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241030 (date) — Date of filing

FAQ

Filing Documents

• glt-20240930.htm (10-Q) — 1843KB
• ex311-093024.htm (EX-31.1) — 10KB
• ex312-093024.htm (EX-31.2) — 10KB
• ex321-093024.htm (EX-32.1) — 4KB
• ex322-093024.htm (EX-32.2) — 4KB
• glt-20240930_g1.jpg (GRAPHIC) — 7KB
• glt-20240930_g2.jpg (GRAPHIC) — 53KB
• glt-20240930_g3.jpg (GRAPHIC) — 47KB
• glt-20240930_g4.jpg (GRAPHIC) — 44KB
• glt-20240930_g5.jpg (GRAPHIC) — 48KB
• glt-20240930_g6.jpg (GRAPHIC) — 47KB
• glt-20240930_g7.jpg (GRAPHIC) — 44KB
• 0000041719-24-000036.txt ( ) — 10237KB
• glt-20240930.xsd (EX-101.SCH) — 57KB
• glt-20240930_cal.xml (EX-101.CAL) — 73KB
• glt-20240930_def.xml (EX-101.DEF) — 256KB
• glt-20240930_lab.xml (EX-101.LAB) — 682KB
• glt-20240930_pre.xml (EX-101.PRE) — 489KB
• glt-20240930_htm.xml (XML) — 1842KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1

Financial Statements

Financial Statements 2 Condensed Consolidated Statements of Operations for the three months and nine months ended September 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Comprehensive Loss for the three months and nine months ended September 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the three months and nine months ended September 30, 2024 and 2023 (unaudited) 5 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 1 Organization 7 2 Accounting Policies 7 3 Revenue 8 4 Proposed Merger 9 5 Gains on Disposition of Plant, Equipment and Timberlands 9 6 Discontinued Operations 10 7 Earnings Per Share 10 8 Accumulated Other Comprehensive Loss 11 9 Share-based Compensation 13 10 Retirement Plans and Other Post-Retirement Benefits 14 11 Income Taxes 14 12 Inventories 15 13 Goodwill and Other Intangible Assets 16 14 Leases 16 15 Long-term Debt 18 16 Fair Value of Financial Instruments 20 17 Financial Derivatives and Hedging Activities 20 18 Commitments, Contingencies and Legal Proceedings 23 19 Segment Information 24 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3

Quantitative and Qualitative Disclosures About Market Risks

Quantitative and Qualitative Disclosures About Market Risks 43 Item 4

Controls and Procedures

Controls and Procedures 44

– OTHER INFORMATION

PART II – OTHER INFORMATION 45

Legal Proceedings

Item 1B Legal Proceedings 45 Item 6 Exhibits 46

SIGNATURES

SIGNATURES 47 PART I

– Financial Statements

Item 1 – Financial Statements GLATFELTER CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three months ended September 30, Nine months ended September 30, In thousands, except per share 2024 2023 2024 2023 Net sales $ 332,101 $ 329,921 $ 988,800 $ 1,065,134 Costs of products sold 296,620 285,434 882,022 966,300 Gross profit 35,481 44,487 106,778 98,834 Selling, general and administrative expenses 32,511 24,714 97,988 84,098 Loss on sale of Ober-Schmitten — 17,805 — 17,805 Losses (gains) on dispositions of plant, equipment and timberlands, net ( 1 ) ( 685 ) 70 ( 1,350 ) Operating income (loss) 2,971 2,653 8,720 ( 1,719 ) Non-operating income (expense) Interest expense ( 18,404 ) ( 17,386 ) ( 53,989 ) ( 47,241 ) Interest income 237 329 771 1,159 Other, net ( 3,316 ) ( 1,948 ) ( 7,852 ) ( 8,271 ) Total non-operating expense ( 21,483 ) ( 19,005 ) ( 61,070 ) ( 54,353 ) Loss from continuing operations before income taxes ( 18,512 ) ( 16,352 ) ( 52,350 ) ( 56,072 ) Income tax provision 1,490 3,328 9,597 13,421 Loss from continuing operations ( 20,002 ) ( 19,680 ) ( 61,947 ) ( 69,493 ) Discontinued operations: Income (loss) before income taxes 4,755 ( 183 ) 4,074 ( 894 ) Income tax provision — — — — Income (loss) from discontinued operations 4,755 ( 183 ) 4,074 ( 894 ) Net loss $ ( 15,247 ) $ ( 19,863 ) $ ( 57,873 ) $ ( 70,387 ) Basic earnings per share Loss from continuing operations $ ( 0.44 ) $ ( 0.43 ) $ ( 1.37 ) $ ( 1.54 ) Income (loss) from discontinued operations 0.11 — 0.09 ( 0.02 ) Basic loss per share $ ( 0.33 ) $ ( 0.43 ) $ ( 1.28 ) $ ( 1.56 ) Diluted earnings per share Loss from continuing operations $ ( 0.44 ) $ ( 0.43 ) $ ( 1.37 ) $ ( 1.54 ) Income (loss) from discontinued operations 0.11 — 0.09 ( 0.02 ) Diluted loss per share $ ( 0.33 ) $ ( 0.43 ) $ ( 1.28 ) $ ( 1.56 ) Weighted average shares outstanding Basic 45,442 45,099 45,322 45,033 Diluted 45,442 45,099 45,322 45,0

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