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Dec 31, 2022
Glatfelter Q4 2022 Earnings Report
Reported fourth quarter and full year results and progress toward executing turnaround strategy.
Key Takeaways
Glatfelter Corporation reported a 12% increase in net sales compared to Q4 2021, driven by the inclusion of Spunlace for the full quarter. The company is making progress on its turnaround strategy, with operational improvements and cash liberation actions contributing to the results. Adjusted EBITDA for 2023 is expected to be between $110 million and $120 million.
Net sales increased by 12% compared to Q4 2021, which includes a full quarter of Spunlace in Q4 2022.
Operating income for Airlaid Materials increased by 19% and Composite Fibers increased by 8% compared to Q4 2021.
Spunlace operating income improved by $3.4 million compared to Q3 2022.
Financing commitment was executed to address the upcoming €220 million term loan maturity.
Glatfelter
Glatfelter
Forward Guidance
Glatfelter expects Adjusted EBITDA to be between $110 million to $120 million by leveraging turnaround strategy in 2023.