Tredegar Corp Files Q3 2024 10-Q
Ticker: TG · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 850429
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**TREDEGAR CORP 10-Q FILED: Q3 2024 RESULTS ARE IN.**
AI Summary
Tredegar Corporation filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year. Specific financial figures and operational details are contained within the filing, which provides a comprehensive overview of the company's performance and financial position.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Tredegar Corp, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it inherently contains financial and operational data that can impact stock price, making it a medium-risk document for investors.
Key Numbers
- 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which results are reported.)
- 20241108 — Filing Date (Shows when the report was officially submitted to the SEC.)
Key Players & Entities
- TREDEGAR CORP (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241108 (date) — Filing date
- 8043301000 (dollar_amount) — Business phone number
FAQ
What is the fiscal year end for Tredegar Corp?
Tredegar Corp's fiscal year ends on December 31st.
What is the SEC file number for Tredegar Corp?
The SEC file number for Tredegar Corp is 001-10258.
In which state was Tredegar Corp incorporated?
Tredegar Corp was incorporated in Virginia (VA).
What is the SIC code for Tredegar Corp?
The Standard Industrial Classification (SIC) code for Tredegar Corp is 3350, related to Rolling Drawing & Extruding of Nonferrous Metals.
What was the previous name of Tredegar Corp?
The former company name was TREDEGAR INDUSTRIES INC, with a date of name change on 19920703.
Filing Stats: 4,695 words · 19 min read · ~16 pages · Grade level 18.7 · Accepted 2024-11-08 16:20:47
Filing Documents
- tg-20240930.htm (10-Q) — 1392KB
- tg-ex311_20240930x10q.htm (EX-31.1) — 10KB
- tg-ex312_20240930x10q.htm (EX-31.2) — 10KB
- tg-ex321_20240930x10q.htm (EX-32.1) — 5KB
- tg-ex322_20240930x10q.htm (EX-32.2) — 5KB
- tg-20240930_g1.jpg (GRAPHIC) — 153KB
- tg-20240930_g2.jpg (GRAPHIC) — 136KB
- tg-20240930_g3.jpg (GRAPHIC) — 147KB
- tg-20240930_g4.jpg (GRAPHIC) — 134KB
- tg-20240930_g5.jpg (GRAPHIC) — 156KB
- tg-20240930_g6.jpg (GRAPHIC) — 155KB
- 0000850429-24-000027.txt ( ) — 9018KB
- tg-20240930.xsd (EX-101.SCH) — 46KB
- tg-20240930_cal.xml (EX-101.CAL) — 65KB
- tg-20240930_def.xml (EX-101.DEF) — 196KB
- tg-20240930_lab.xml (EX-101.LAB) — 548KB
- tg-20240930_pre.xml (EX-101.PRE) — 366KB
- tg-20240930_htm.xml (XML) — 1160KB
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) 8 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 23 Item 3 .
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 42 Part II Other Information Item 1A.
Risk Factors
Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 43 Item 5. Other Information 43 Item 6. Exhibits 43
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. Tredegar Corporation Condensed Consolidated Balance Sheets (In Thousands, Except Share Data) (Unaudited) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 2,724 $ 9,660 Restricted cash 3,864 3,795 Accounts and other receivables, net 81,636 67,938 Income taxes recoverable 954 1,182 Inventories 88,058 82,037 Prepaid expenses and other 11,026 12,065 Total current assets 188,262 176,677 Property, plant and equipment, at cost 541,608 541,046 Less: accumulated depreciation ( 372,920 ) ( 357,591 ) Net property, plant and equipment 168,688 183,455 Right-of-use leased assets 15,663 11,848 Identifiable intangible assets, net 8,361 9,851 Goodwill 35,717 35,717 Deferred income taxes 22,765 25,034 Other assets 3,085 3,879 Total assets $ 442,541 $ 446,461 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 89,070 $ 95,023 Accrued expenses 24,000 24,442 Lease liability, short-term 2,824 2,107 Short-term debt 1,356 — ABL revolving facility (matures June 30, 2026) 122,000 126,322 Income taxes payable 8 1,210 Total current liabilities 239,258 249,104 Lease liability, long-term 13,963 10,942 Long-term debt 20,000 20,000 Pension and other postretirement benefit obligations, net 6,464 6,643 Other non-current liabilities 4,408 4,119 Total liabilities 284,093 290,808 Shareholders' equity: Common stock, no par value (authorized shares 150,000,000 , issued and outstanding 34,510,556 shares at September 30, 2024 and 34,408,638 shares at December 31, 2023) 63,031 61,606 Common stock held in trust for savings restoration plan ( 118,543 shares at September 30, 2024 and December 31, 2023) ( 2,233 ) ( 2,233 ) Accumulated other comprehensive income (loss): Foreign currency translation adjustment ( 88,777 ) ( 83,037 ) Gain (loss) on derivative financial instruments ( 141 ) 801 Pension and other postretirement benefit adjustments 457 539 Retained earnings 186