Economic Conditions and Risks - Global economic conditions, including inflation and supply chain disruptions, may negatively impact business operations and financial results[31] - Customers may delay, decrease, or cancel purchases, affecting cash flow and financial condition[32] - Raw material and energy inflation or shortages could harm financial condition and results of operations[34] - Weather-related events may adversely impact business operations and customer demand[35] - International operations expose the company to foreign exchange rate risks that may negatively affect financial performance[47] - Changes in tax laws or geographic mix of earnings could materially impact financial condition and results of operations[51] - Cybersecurity threats are evolving risks that the company addresses through comprehensive risk management strategies[56] - The company has not identified any known cybersecurity threats that have materially affected its business strategy or financial condition[58] Financial Performance - Net sales for fiscal 2025 increased to $3,204 million, a 47% increase from $2,187 million in fiscal 2024[66] - Operating income improved to $5 million in fiscal 2025, compared to a loss of $141 million in fiscal 2024, marking a 104% increase[66] - Projected cash from operations for fiscal 2026 is estimated to be between $170 million and $190 million, with free cash flow projected between $90 million and $110 million[64] - The Americas segment reported net sales of $1,833 million in fiscal 2025, up 23% from $1,493 million in fiscal 2024[71] - The Rest of World segment saw net sales rise to $1,371 million, a 98% increase from $694 million in fiscal 2024[73] - Comprehensive loss for fiscal 2025 was $186 million, a 23% increase from a loss of $151 million in fiscal 2024, primarily due to unfavorable currency translation[70] - Free cash flow for fiscal 2025 was reported at $126 million, with cash flow from operating activities at $103 million[79] - Interest expense increased significantly to $141 million in fiscal 2025, up from $3 million in fiscal 2024, reflecting higher borrowings[69] - At the end of fiscal 2025, the company had a cash balance of $305 million, with 86% located outside the U.S.[81] - The company reported a net loss of $159 million for the fiscal year 2025, compared to a net loss of $154 million in 2024[107] - Cash and cash equivalents rose to $305 million in 2025, compared to $230 million in 2024, indicating a 32.6% increase[112] - The company identified material weaknesses in internal controls related to the merger with Glatfelter and IT systems, which could affect financial reporting reliability[98] - The company's long-term debt stood at $1,952 million as of September 27, 2025, reflecting a significant increase from previous periods[112] - Comprehensive loss for the fiscal year 2025 was $186 million, compared to a comprehensive loss of $151 million in 2024[109] - Cash flows from operating activities generated $103 million, a decrease from $192 million in the prior year[114] - The company reported a consolidated net loss of $159 million for fiscal 2025, compared to a net loss of $154 million in fiscal 2024[187] - Basic and diluted net income per share for fiscal 2025 was $(4.47), an improvement from $(4.84) in fiscal 2024[187] Assets and Liabilities - Total assets increased to $3,989 million in 2025, up from $2,807 million in 2024, reflecting a growth of 42.1%[112] - Goodwill as of September 27, 2025, was reported at $663 million, with no impairment charge recognized during the annual quantitative goodwill impairment test[95] - Inventories increased to $474 million in fiscal 2025 from $259 million in fiscal 2024[132] - Property, plant, and equipment rose to $1,476 million in fiscal 2025, up from $949 million in fiscal 2024[133] - Long-term debt totals $1,952 million, including a $785 million Term Loan and $800 million in 7.25% First Priority Senior Secured Notes, both maturing in 2031[149] - The book value of marketable long-term indebtedness exceeded fair value by $108 million as of September 27, 2025[155] - The Company has a net deferred tax asset of $30 million as of fiscal year 2025, compared to a liability of $21 million in 2024[166] - The Company reported a total current income tax expense of $20 million for fiscal 2025, down from $28 million in 2024[164] Acquisitions and Restructuring - The company may pursue acquisitions or mergers, which could involve risks and affect financial performance[37] - The company completed the acquisition of GLT, which contributed $37 million in cash acquired[114] - The GLT acquisition resulted in a $27 million increase in goodwill, with total consideration for the acquisition at $74 million[147] - For the year ended September 27, 2025, unaudited pro forma net sales from GLT were $3,316 million, contributing $1,145 million to total net sales[148] - The restructuring plan, Project CORE, is expected to yield operational savings over the next two years, with a total restructuring cost of $89 million recognized in fiscal 2025[175] - The company incurred a total of $89 million in restructuring and other activities in fiscal 2025, significantly higher than the $30 million in 2024[176] - Cumulative costs attributed to restructuring programs since 2023 totaled $63 million[177] Shareholder and Compensation Information - The company recognized total share-based compensation expense of $19 million in fiscal 2025, up from $7 million in both fiscal 2024 and 2023[129] - The company had unrecognized compensation expense of $16 million on equity incentive awards as of the fiscal year end[178] - The company had equity incentive shares available for grant of 5 million as of September 27, 2025[179] Tax and Regulatory Matters - The effective tax rate is influenced by various factors, including enacted tax laws and the ability to utilize foreign tax credits[140] - The Company recognized a net loss of $84 million on net investment hedges for the year ended September 27, 2025[154] - The Company has recorded unrecognized tax benefits of $45 million as of fiscal year 2025, an increase from $12 million in 2024[169] Operational Insights - The company has 22 manufacturing facilities in the Americas and 23 in the rest of the world, with 2 and 4 leased facilities respectively[59] - The top customer represented approximately 14% of net sales, while the top ten customers accounted for about 42% of net sales[127] - Total segment operating expenses for fiscal 2025 were $2,850 million, up from $1,905 million in fiscal 2024, indicating a 49.6% increase[181] Future Projections - Future amortization expense for definite lived intangibles is projected at $45 million for fiscal 2026, decreasing to $26 million by fiscal 2030[137] - The Company expects to pay future pension benefits totaling $2 million annually from 2026 to 2030, with an additional $9 million expected from 2031 to 2035[173] - The weighted-average remaining lease term for operating leases decreased from 6.5 years in 2024 to 5.6 years in 2025[160] Documentation and Agreements - The financial statements are incorporated by reference to Item 8 of the report[208] - The company has filed various agreements related to the RMT Transaction, including a Transaction Agreement and a Separation and Distribution Agreement, both dated February 6, 2024[212] - The company has entered into a Term Loan Credit Agreement and an Asset-Based Revolving Credit Agreement, both dated November 4, 2024[212] - The company has established a Deferred Compensation Plan and an Executive Severance Plan, both filed on November 5, 2024[213] - The company has made amendments to the Tax Matters Agreement, with the latest amendment dated October 21, 2024[213] - The company has a 2024 Omnibus Incentive Plan in place, which was incorporated by reference in the report[212] - The company has signed various employment agreements and compensation plans for executives, with the latest dated December 20, 2024[213] - The company has filed a letter from Deloitte & Touche LLP, dated November 4, 2024, as part of the report[213] - The company has a list of subsidiaries and subsidiary guarantors filed as part of the report[213] - The company has certifications from the Chief Executive Officer and Chief Financial Officer included in the report[213]

Financial Performance - Net sales for the fourth quarter reached $839 million, a 51% increase compared to $554 million in the same quarter last year[4] - Adjusted EBITDA for the fourth quarter was $90 million, reflecting a 36% increase from $66 million in the prior year[4] - The fiscal year net sales totaled $3.2 billion, up 47% from $2.2 billion in the previous year[4] - Net sales for fiscal 2025 reached $3,204 million, compared to $2,187 million in fiscal 2024, marking an increase of 46.5%[26] - Adjusted EBITDA for fiscal 2025 was $354 million, a decrease of 4% compared to $367 million in fiscal 2024[26] Cash Flow and Liquidity - The company achieved record cash flow from operations of $96 million in the fourth quarter[5] - Post-merger adjusted free cash flow was $126 million, representing a yield of over 30% as of year-end[5] - Net cash from operating activities decreased to $103 million in fiscal 2025 from $192 million in fiscal 2024, a decline of 46.4%[23] - The company expects cash flow from operating activities for fiscal 2026 to be between $170 million and $190 million[27] - Free cash flow is projected to be between $90 million and $110 million for fiscal 2026[27] - Cash and cash equivalents at the end of the period increased to $305 million in September 2025 from $230 million in September 2024, a rise of 32.6%[24] Debt and Leverage - Year-end leverage stood at 3.8x, with total net debt of $1.647 billion[13] - Current liabilities, excluding current debt, rose to $601 million in September 2025 from $457 million in September 2024, an increase of 31.4%[24] Strategic Outlook - The company is targeting a 9% improvement in reported earnings by 2026 through cost improvement and capacity optimization[3] - Fiscal year 2026 guidance includes adjusted EBITDA of $380 - $410 million and free cash flow of $90 - $110 million[14] - The company plans to add approximately $80 million in net additions to property, plant, and equipment in fiscal 2026[27] Segment Performance - The Glatfelter merger contributed $328 million to net sales in the fourth quarter[6] - The Americas segment saw a net sales increase of $122 million, partially offset by a 3% organic volume decline due to competitive pressures[8] Operating Income - The company reported an operating income of $5 million for fiscal 2025, down from $51 million in fiscal 2024[26] Asset Growth - Total assets increased to $3,989 million in September 2025, up from $2,807 million in September 2024, representing a growth of 42.1%[24]

Exhibit 99.1 Magnera Reports Third Quarter Results – Provides Updated Outlook Third Quarter Highlights Magnera (NYSE: MAGN), a global leader in specialty materials for the consumer products and personal care markets, today reported financial results for its fiscal 2025 third quarter ended June 28, 2025. Curt Begle, Magnera's CEO, commented: "Reflecting on the third quarter, I am pleased with our progress and what we have achieved in these challenging market conditions. We are confirming our original free ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): May 7, 2025 Magnera Corporation ______________________________________________________________________ (Exact name of registrant as specified in its charter) Pennsylvania 001-03560 23-0628360 (I.R.S. Employer Identification (State or other jurisdiction of incorporation) 9335 Harris Corners Pkwy ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): February 6, 2025 Magnera Corporation ______________________________________________________________________ (Exact name of registrant as specified in its charter) Pennsylvania 001-03560 23-0628360 (I.R.S. Employer Identification (State or other jurisdiction of incorporation) 9335 Harris Corners ...

For the third quarter of 2024, Glatfelter Corporation (GLT) incurred an adjusted loss of 26 cents per share, wider than the prior-year quarter’s loss of 23 cents. The company reported net sales of $332 million, a modest increase over the $329.9 million reported in the third quarter of 2023. Consolidated gross profit declined from $44.5 million in the third quarter of 2023 to $35.5 million in the third quarter of 2024, driven by rising input costs, new sanctions on certain product categories, and ongoing mar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to 4350 Congress Street, Suite 600 Charlotte, North Carolina 28209 (Address of principal executive offices) (704) 885-2555 (Registrant's telephone number, including ...

Exhibit 99.1 For Immediate Release Contacts: N E W S R E L E A S E Corporate Headquarters 4350 Congress Street Suite 600 Charlotte, NC 28209 U.S.A. www.glatfelter.com | --- | --- | --- | |-------|---------------------------------|----------------------------| | | | | | | Investors: | Media: | | | Ramesh Shettigar | Eileen L. Beck | | | (717) 225-2746 | (717) 225-2793 | | | ramesh.shettigar@glatfelter.com | eileen.beck@glatfelter.com | GLATFELTER REPORTS THIRD QUARTER 2024 RESULTS ~ Transaction closing and t ...

2024 Third Quarter Highlights: Generated net sales of ~$332 million and a GAAP net loss from continuing operations of $20.0 million Delivered Adjusted EBITDA of $24.6 million, compared to $25.5 million in Q3 2023 Spunlace generated $4.8 million EBITDA despite hurricane downtime, a $2.5 million increase over Q3 '23 Airlaid Materials achieved EBITDA of $18.0 million, a $0.7 million decrease from Q3 '23 Composite Fibers delivered EBITDA of $10.1 million, a $1.1 million decrease from Q3 '23, due to new sanction ...

CHARLOTTE, N.C. and EVANSVILLE, Ind., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE: GLT) (“Glatfelter”) and Berry Global Group, Inc. (NYSE: BERY) (“Berry”) announced today that Glatfelter’s shareholders have approved all matters relating to the merger of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films business (“HHNF Business”) with Glatfelter required to be approved by Glatfelter shareholders, as described in the proxy statement/prospectus provided to its shareholders i ...