Tredegar Q2 2020 Earnings Report
Key Takeaways
Tredegar Corporation reported favorable financial results for Q2 2020 despite the adverse impact of COVID-19, particularly on the aluminum extrusions business. The company's balance sheet remains strong, with cash exceeding debt.
Second quarter 2020 net income was $11.2 million ($0.33 per share).
Net income from ongoing operations was $14.1 million ($0.42 per share).
EBITDA from ongoing operations for Aluminum Extrusions was $13.3 million.
Cash exceeded debt by $5.9 million.
Tredegar
Tredegar
Tredegar Revenue by Segment
Forward Guidance
Bonnell Aluminum’s current projection for 2020, which accounts for the pandemic that is highly uncertain, includes sales volume of 170 million pounds and EBITDA from ongoing operations of $42 million. The Surface Protection component of PE Films had record performance for EBITDA from ongoing operations in the second quarter and first half of 2020, but is expecting a slowdown for the second half of the year, based on industry projections for products using flat panel displays and anticipated customer inventory corrections.
Revenue & Expenses
Visualization of income flow from segment revenue to net income