Glatfelter Reports Second Quarter 2018 Results
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Glatfelter (GLT) Misses Q2 EPS by 5c, Miss on Revenues
July 31, 2018 6:52 AM EDTGlatfelter (NYSE: GLT) reported Q2 EPS of ($0.10), $0.05 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $406.72 million versus the consensus estimate of $418.43 million.
Significantly higher input costs, and operational challenges in Specialty Papers, led to second-quarter results that were below our expectations, said Dante C. Parrini, Chairman and Chief Executive Officer. During the quarter, higher purchased pulp prices adversely impacted our results by $9 million. While selling prices increased in all of our businesses, this was not sufficient to offset increases in raw material prices, particularly in Composite Fibers. However, Advanced... More
