Tredegar Corp. (TG) Reports Q4 EPS of $0.22

Tredegar Corp. (NYSE: TG) reported Q4 EPS of $0.22, versus $0.43 reported last year. Revenue for the quarter came in at $232.43 million, versus $294.63 million reported last year.

Fourth Quarter Financial Results Highlights

• Earnings before interest, taxes, depreciation and amortization (“EBITDA”) from ongoing operations for Aluminum Extrusions of $14.5 million was $3.4 million lower than the fourth quarter of 2018
• EBITDA from ongoing operations for PE Films of $9.5 million was $3.5 million lower than the fourth quarter of 2018
• EBITDA from ongoing operations for Flexible Packaging Films of $4.3 million was $0.7 million higher than the fourth quarter of 2018

John Steitz, Tredegar’s president and chief executive officer, said, “Bonnell Aluminum’s full year operating results in 2019 beat 2018 despite softness in its markets. Delivering value to customers and managing operations and costs to levels consistent with sales continue to be priorities. Our Surface Protection component of PE Films achieved record profit in 2019 with the continued delay of a possible customer product transition, obtaining new business and cost improvements.”

Mr. Steitz continued, “Our Personal Care component of PE Films in 2019 mostly mitigated the adverse impact of missed sales and margin goals with cost reduction efforts. The Personal Care team continues to be focused on business development activities. In this regard, they recently completed a contract extension with a key customer for sales through at least 2022 that we previously thought might be lost in 2020. Terphane’s turnaround, which began in 2018, continued into 2019. We look forward to further improvements at Terphane.”

Mr. Steitz further stated, “Tredegar’s overall cash generation in 2019 was truly exceptional with debt net of cash declining by $57 million.”

For earnings history and earnings-related data on Tredegar Corp. (TG) click here.

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