GLATFELTER CORPORATION Reports Q2 Earnings Results for FY Ending June 30, 2023
August 9, 2023
🌥️Earnings Overview
On August 3 2023, GLATFELTER CORPORATION ($NYSE:GLT) released their Q2 earnings results for the fiscal year ending June 30 2023. Total revenue for the quarter was USD 357.0 million, representing a 1.9% decrease compared to the corresponding period of the previous year. Reported net income was USD -36.9 million, a decrease from the -2.0 million recorded in the prior year.
Market Price
The company’s stock opened at $3.1 and closed at $2.6, a plunge of 20.9% from its prior closing price of $3.4. The company attributed the decline to weak demand in its paper and engineered materials segments, due to the pandemic-induced economic crisis. The company also noted that while sales had increased in both segments, profitability was negatively impacted by higher expenses and product mix. GLATFELTER CORPORATION has also announced that it is taking proactive steps to reduce costs in order to maintain its competitive position, including a reduction in head count and other operational cost savings. With an expectation of continued weak demand in the coming months, the company has taken a conservative outlook for the remainder of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Glatfelter Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.48k | -134.35 | -6.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Glatfelter Corporation. More…
| Operations | Investing | Financing |
| -14.31 | -31.68 | 23.89 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Glatfelter Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.58k | 1.3k | 6.21 |
Key Ratios Snapshot
Some of the financial key ratios for Glatfelter Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.6% | -38.2% | -4.9% |
| FCF Margin | ROE | ROA |
| -3.2% | -15.3% | -2.9% |
Analysis
At GoodWhale, we have carefully analyzed the fundamentals of GLATFELTER CORPORATION to give our customers an idea of how risky it may be to invest in the company. Our results show that GLATFELTER CORPORATION is a medium risk investment when considering both the financial and business aspects. We have uncovered two risk warnings in the income sheet and balance sheet, which can be viewed by registering on our website. All of this information is intended to help our customers make informed decisions about their investments. More…
Peers
The global specialty paper market is highly competitive with the presence of several large and small players. The leading players in the market include Glatfelter Corp, West Fraser Timber Co.Ltd, Bontex Inc, and Materion Corp. These companies compete with each other on the basis of product quality, price, innovation, and brand equity.
– West Fraser Timber Co.Ltd ($TSX:WFG)
As of 2022, West Fraser Timber Co. Ltd. has a market capitalization of 9.11 billion and a return on equity of 25.41%. The company is a leading forest products company that produces lumber, wood chips, and other forest products. The company operates in Canada, the United States, and China.
– Bontex Inc ($NYSE:MTRN)
Materion Corporation is a provider of advanced materials used in a variety of industries. The company’s products include metals, alloys, ceramics, and composites. They are used in a variety of applications, including electronics, energy, medical, aerospace, and defense. Materion has a market cap of 1.76B and a ROE of 7.86%. The company’s products are used in a variety of industries, including electronics, energy, medical, aerospace, and defense.
Summary
GLATFELTER CORPORATION reported their Q2 earnings results on August 3 2023, with total revenue of USD 357.0 million coming in 1.9% lower than the previous year. Net income was USD -36.9 million, a decrease from -2.0 million the year prior. The release of this information caused the stock price to dip, so investors need to take caution when considering investing in the company.
Profit margins were thin and revenue was down significantly, raising concerns about the company’s potential to generate future growth. Investing in GLATFELTER CORPORATION carries risks, but the company could still be attractive to some investors who are looking for a potential turnaround.
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