The following is a summary of the Glatfelter Corporation (GLT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Glatfelter achieved $25.6 million in adjusted EBITDA, reflecting an $8.3 million improvement from the previous year.

• Composite Fibers and Spunlace segments reported higher EBITDA, contributing gains of $5 million and $3 million, respectively.

• Adjusted free cash flow significantly increased by approximately $43 million compared to Q2 of the previous year, primarily driven by higher earnings and lower capital expenditures.

Business Progress:

• Progress was made on the proposed merger with Berry's HHNF business, set to close later this year, with the future business to operate under the name Magnera.

• Developed a new product targeting media specialty material in the Airlaid segment, aligned with the EU single-use plastics directive.

• Glatfelter is actively working to expand the Airlaid product portfolio through innovation to address ongoing demand challenges.

Opportunities:

• Expansion of the Airlaid product portfolio and entry into new contracts, such as the recent agreement for a filter product, to diversify and strengthen market presence.

• The pending merger with Berry's HHNF business presents strategic growth opportunities and restructuring benefits.

Risks:

• Continued soft demand in the European market impacts volumes, particularly in the Airlaid Materials segment, despite improvements in other regions.

More details: Glatfelter IR

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