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Jun 30, 2021
Glatfelter Q2 2021 Earnings Report
Reported net income with successful Mount Holly integration contributing favorably to results, and announced acquisition of Jacob Holm to add scale and new technologies.
Key Takeaways
Glatfelter Corporation reported a net income of $1.5 million for the second quarter of 2021, compared to a loss of $2.3 million in the same period last year. Consolidated net sales totaled $244.9 million, compared to $216.2 million for the same period in 2020.
Net income for the three months ended June 30, 2021 was $1.5 million, or $0.03 per diluted share, compared with a loss of $2.3 million, or a loss of $0.05 per share, in the same period a year ago.
Consolidated net sales for the three months ended June 30, 2021 totaled $244.9 million, compared with $216.2 million for the same period in 2020.
The newly-acquired Mount Holly facility made an immediate contribution to Glatfelter's Airlaid segment.
On July 22, Glatfelter announced the acquisition of Jacob Holm, a global leading manufacturer of premium quality spunlace nonwovens.
Glatfelter
Glatfelter
Forward Guidance
Glatfelter expects the benefit of their price increases to be more fully realized in the second half of 2021, further counteracting inflationary pressures in the Composite Fibers segment.