Glatfelter (GLT) Misses Q3 EPS by 1c
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Glatfelter (NYSE: GLT) reported Q3 EPS of $0.54, $0.01 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $405.3 million versus the consensus estimate of $426.09 million.
Composite Fibers’ shipping volumes in the fourth quarter of 2016 are expected be approximately 5% lower than the third quarter driven by lower sales of metalized products. Selling prices and raw material and energy prices are expected to be in-line with the third quarter. The Company anticipates the impact of machine downtime to reduce inventory levels will be largely offset by cost reduction initiatives.
Advanced Airlaid Materials’ shipping volumes are expected to decline slightly compared with the third quarter. Customer selling prices and raw material and energy prices are expected to be in-line with the third quarter.
For Specialty Papers, shipping volumes in the fourth quarter are expected to be in-line with the third quarter. Lower selling prices and mix changes are expected to reduce operating profit by approximately $5 million. The impact of machine downtime to reduce inventory levels is expected to be offset by lower maintenance costs. Raw material and energy prices are expected to increase moderately.
For earnings history and earnings-related data on Glatfelter (GLT) click here.
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