Tredegar Corp. Files 10-Q for Period Ending March 31, 2024

Ticker: TG · Form: 10-Q · Filed: May 9, 2024 · CIK: 850429

Sentiment: neutral

Topics: 10-Q, Financial Report, Tredegar Corp, Manufacturing, Q1 2024

TL;DR

<b>Tredegar Corp. has filed its Q1 2024 10-Q report detailing financial performance and position.</b>

AI Summary

TREDEGAR CORP (TG) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Tredegar Corp. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is rolling, drawing, and extruding nonferrous metals. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Key financial statement components such as retained earnings, common stock, and accumulated other comprehensive income are detailed for various periods.

Why It Matters

For investors and stakeholders tracking TREDEGAR CORP, this filing contains several important signals. This filing provides investors with the latest financial results and operational updates for Tredegar Corp., crucial for assessing the company's current health and future prospects. Understanding the detailed financial statements, including revenue segments and balance sheet items, allows for informed investment decisions regarding Tredegar Corp.

Risk Assessment

Risk Level: medium — TREDEGAR CORP shows moderate risk based on this filing. The company operates in the manufacturing sector, which can be subject to market fluctuations and operational challenges, as indicated by the detailed financial reporting in the 10-Q.

Analyst Insight

Review the detailed financial statements in the 10-Q to understand revenue trends, profitability, and balance sheet strength for Tredegar Corp.

Key Numbers

Key Players & Entities

FAQ

When did TREDEGAR CORP file this 10-Q?

TREDEGAR CORP filed this Quarterly Report (10-Q) with the SEC on May 9, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by TREDEGAR CORP (TG).

Where can I read the original 10-Q filing from TREDEGAR CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TREDEGAR CORP.

What are the key takeaways from TREDEGAR CORP's 10-Q?

TREDEGAR CORP filed this 10-Q on May 9, 2024. Key takeaways: Tredegar Corp. filed its 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. The company's principal business is rolling, drawing, and extruding nonferrous metals..

Is TREDEGAR CORP a risky investment based on this filing?

Based on this 10-Q, TREDEGAR CORP presents a moderate-risk profile. The company operates in the manufacturing sector, which can be subject to market fluctuations and operational challenges, as indicated by the detailed financial reporting in the 10-Q.

What should investors do after reading TREDEGAR CORP's 10-Q?

Review the detailed financial statements in the 10-Q to understand revenue trends, profitability, and balance sheet strength for Tredegar Corp. The overall sentiment from this filing is neutral.

How does TREDEGAR CORP compare to its industry peers?

Tredegar Corp. operates in the nonferrous metals manufacturing sector, specifically in rolling, drawing, and extruding.

Are there regulatory concerns for TREDEGAR CORP?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports like the 10-Q.

Industry Context

Tredegar Corp. operates in the nonferrous metals manufacturing sector, specifically in rolling, drawing, and extruding.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports like the 10-Q.

What Investors Should Do

  1. Analyze the consolidated balance sheets for March 31, 2024, and December 31, 2023.
  2. Review the consolidated statements of operations for the three months ended March 31, 2024, and 2023.
  3. Examine the consolidated statements of cash flows for the three months ended March 31, 2024, and 2023.

Key Dates

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 10-K filing for the fiscal year ended December 31, 2023.

Filing Stats: 4,663 words · 19 min read · ~16 pages · Grade level 16.2 · Accepted 2024-05-09 08:22:21

Filing Documents

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (unaudited) 2 Condensed Consolidated Statements of Income (Loss) (unaudited) 3 Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) 4 Condensed Consolidated Statements of Cash Flows (unaudited) 5 Condensed Consolidated Statements of Shareholders' Equity (unaudited) 6 Notes to the Condensed Consolidated Financial Statements (unaudited) 7 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 18 Item 3 .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 33 Part II Other Information Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 34 Item 5. Other Information 34 Item 6. Exhibits 34

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Tredegar Corporation Condensed Consolidated Balance Sheets (In Thousands, Except Share Data) (Unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 3,493 $ 9,660 Restricted cash 1,299 3,795 Accounts and other receivables, net 73,032 67,938 Income taxes recoverable 793 1,182 Inventories 86,822 82,037 Prepaid expenses and other 9,438 12,065 Total current assets 174,877 176,677 Property, plant and equipment, at cost 540,856 541,046 Less: accumulated depreciation ( 362,884 ) ( 357,591 ) Net property, plant and equipment 177,972 183,455 Right-of-use leased assets 16,761 11,848 Identifiable intangible assets, net 9,364 9,851 Goodwill 35,717 35,717 Deferred income taxes 24,320 25,034 Other assets 3,520 3,879 Total assets $ 442,531 $ 446,461 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 84,925 $ 95,023 Accrued expenses 23,083 24,442 Lease liability, short-term 2,871 2,107 ABL revolving facility (matures June 30, 2026) 128,330 126,322 Income taxes payable 225 1,210 Total current liabilities 239,434 249,104 Lease liability, long-term 15,318 10,942 Long-term debt 20,000 20,000 Pension and other postretirement benefit obligations, net 6,582 6,643 Other non-current liabilities 4,382 4,119 Total liabilities 285,716 290,808 Shareholders' equity: Common stock, no par value (authorized shares 150,000,000 , issued and outstanding 34,533,870 shares at March 31, 2024 and 34,408,638 shares at December 31, 2023) 61,959 61,606 Common stock held in trust for savings restoration plan ( 118,543 shares at March 31, 2024 and 118,543 shares at December 31, 2023) ( 2,233 ) ( 2,233 ) Accumulated other comprehensive income (loss): Foreign currency translation adjustment ( 84,985 ) ( 83,037 ) Gain (loss) on derivative financial instruments 297 801 Pension and other postretirement benefit adjustments 512 539 Retained earnings 181,265 177,977 Total sh

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