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Glatfelter (GLT) Tops Q3 EPS by 7c

November 4, 2014 8:08 AM

Glatfelter (NYSE: GLT) reported Q3 EPS of $0.70, $0.07 better than the analyst estimate of $0.63. Revenue for the quarter came in at $465.1 million versus the consensus estimate of $485.4 million.

“Our third-quarter adjusted earnings were strong and an all-time quarterly record of $0.70 per share,” said Dante C. Parrini, chairman and chief executive officer. “Specialty Papers delivered significantly improved results led by excellent operational performance and top-line growth. Advanced Airlaid Materials continues to perform very well, aided by strong demand and production efficiencies and Composite Fibers had a solid quarter when considering the market and economic pressures it is facing.”

Mr. Parrini continued, “As we look at the fourth quarter, we expect to build on the momentum of operational excellence across all of our businesses. We believe Specialty Papers is well-positioned to deliver stable, reliable cash generation for the company. Demand for our Advanced Airlaid Materials products is consistently strong, driven by global growth in adult hygiene markets. Composite Fibers is operating well overall, but it continues to be impacted by economic uncertainty in Europe and the fluid economic and political situation in Russia and Ukraine. On balance, we are pleased with our progress throughout 2014 and our leading market positions, while remaining mindful of the near-term macro-level challenges.”

For earnings history and earnings-related data on Glatfelter (GLT) click here.

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