Glatfelter reports Q1 adjusted EPS (33c) from (13c) last year

Reports Q1 revenue $327.3M vs. $378.21M last year. “We continued to execute against our strategy to optimize our portfolio and position the business for long-term profitable growth as we prepare to complete the proposed merger with Berry’s HHNF business to create a new, global specialty materials leader,” said CEO Thomas Fahnemann. “The team remains focused on delivering meaningful financial performance while ensuring our business segments are well positioned to become part of a larger enterprise that is expected to deliver substantial shareholder value…While overall results for the quarter were mixed, I am encouraged by how far we have come in the past twelve months to enhance the performance of our business, further offsetting many of the prevailing macroeconomic headwinds. The team continues to make excellent progress with preparing for the closing of the proposed merger with Berry’s HHNF business, with the goal of value creation and long-term growth for our shareholders. The work that is underway will provide a strong foundation from which to build scale, capitalize on an expanded product portfolio and complementary technology, and ultimately lower Glatfelter’s current leverage.”