Financial Performance - Glatfelter reported net sales of $1.5 billion in 2022, an increase from $1.08 billion in 2021, representing a growth of approximately 37.5%[21]. - For the year ended December 31, 2022, the company reported a loss from continuing operations of $194.1 million, or a loss of $4.33 per share, compared to income of $6.7 million and $0.15 per share in 2021[110]. - The company reported a net loss of $194.2 million in 2022, compared to a net income of $6.9 million in 2021[126]. - Basic earnings per share for 2022 was $(4.33), a decline from $0.15 in 2021[212]. - The operating loss for 2022 was $164.0 million, a significant decline from an operating income of $28.6 million in 2021[212]. - Adjusted loss for 2022 was $19.0 million, or $0.42 loss per share, compared to adjusted earnings of $27.6 million, or $0.61 per diluted share in 2021[112]. - Gross profit for 2022 was $148.8 million, representing 10.0% of net sales, down from 13.3% in 2021[137]. - The company incurred costs of products sold amounting to $1,342.5 million in 2022, up from $939.9 million in 2021, reflecting a 42.9% increase[212]. Segment Performance - The Airlaid Materials segment generated net sales of approximately $601.5 million in 2022, accounting for 40.4% of total net sales, while Composite Fibers contributed $523.9 million (35.1%) and Spunlace $365.9 million (24.5%)[21]. - The Airlaid Materials segment reported an operating income increase of $12.6 million in 2022, while the Composite Fibers segment experienced a decrease of $20.5 million[112]. - The Spunlace segment reported a net loss of $9.3 million in 2022, compared to a loss of $1.3 million in 2021[135]. - Composite Fibers' net sales decreased by $32.9 million, or 5.9%, in 2022, primarily due to a 22.0% decline in shipments, particularly a 45.1% drop in wallcover shipments related to the Russia-Ukraine conflict[142]. Acquisitions and Strategic Initiatives - The acquisition of Georgia-Pacific's Mt. Holly business for $170.9 million in May 2021 expanded Glatfelter's footprint in the U.S. nonwovens market[19]. - The acquisition of Jacob Holm for approximately $304 million in October 2021 established a new Spunlace reporting segment, enhancing Glatfelter's product portfolio[20]. - The company has suspended dividends, freeing up approximately $25 million in cash annually to support its turnaround strategy[17]. - Glatfelter's turnaround strategy includes a focus on margin improvement, with pricing actions expected to benefit throughout 2023[17]. Operational Challenges - The company anticipates ongoing challenges due to the military conflict between Russia and Ukraine, impacting production, sales, and supply chain costs[107]. - The company operates manufacturing sites in Europe that are adversely impacted by the military conflict in Ukraine, leading to potential shortages and increased costs of natural gas, which may affect operational efficiency[63]. - The risk of cyber-security incidents has increased due to ongoing geopolitical tensions, potentially affecting operations and supply chains[64]. - Continued geopolitical tensions and sanctions against Russia may lead to further adverse consequences for the company's business and financial results[65]. - Disruptions in the global supply chain could negatively impact the company's ability to manufacture and deliver products, potentially increasing transportation costs significantly[66]. Debt and Financial Position - The company had approximately $312.3 million of secured debt and $532.0 million of unsecured debt as of December 31, 2022[59]. - As of December 31, 2022, the company had $844.2 million in long-term debt, with approximately 37.0% at variable interest rates[171]. - The leverage ratio as of December 31, 2022, was 6.0x, within the maximum limit allowed under the Credit Agreement, which was amended to increase the maximum leverage ratio to 6.75 until December 31, 2023[160]. - The weighted-average interest rate on variable-rate debt was 3.84%, and a hypothetical 100 basis point increase in interest rates would raise annual interest expense by $3.1 million[171]. Environmental and Regulatory Costs - The company is subject to substantial costs related to environmental regulations, which may impact financial performance[72]. - The company maintains accruals for environmental liabilities, adjusting them as assessments and remediation actions continue[181]. Currency and International Operations - A significant portion of the company's net sales and earnings is generated from international operations, exposing it to foreign currency exchange rate fluctuations, particularly with the euro, British pound, and Canadian dollar[67]. - The company's euro-denominated net sales are estimated to exceed euro expenses by approximately €190 million annually, exposing it to currency exchange rate risks[173]. - The company is subject to risks associated with changes in foreign currency exchange rates, particularly with the euro, British pound sterling, Canadian dollar, and Philippine peso[173]. Workforce and Governance - The company employs approximately 3,250 people worldwide, with 67.8% represented by local works councils or trade unions in various regions[39]. - The company's internal control over financial reporting was deemed effective as of December 31, 2022, according to an independent audit[190].

Glatfelter Corporation (NYSE:GLT) Q4 2022 Earnings Conference Call February 21, 2023 11:00 AM ET Company Participants Ramesh Shettigar - SVP, CFO & Treasurer Thomas Fahnemann - President & CEO Conference Call Participants Roger Spitz - Bank of America Josh Wool - Carlson Capital Shaun Nicholson - Segall Bryant & Hamill Operator Good day everyone, and welcome to the Q4 2022 Glatfelter Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Ram ...

Business Overview - Glatfelter is diversified by end-customer, product application, and technologies, creating an attractive stand-alone platform[7] - The company enhances protection mechanisms to address raw material & energy inflation through dynamic pricing[7] - Glatfelter is committed to a conservative financial policy with leverage reduction as a key priority[7] Airlaid Materials - Feminine Hygiene accounts for 40% of Airlaid Materials sales mix[10] - Wipes represent 26% of the Airlaid Materials sales mix[10] - Table Top accounts for 19% of the Airlaid Materials sales mix[10] Composite Fibers - Food & Beverage constitutes 57% of Composite Fibers sales mix[14] - Technical Specialties represent 16% of the Composite Fibers sales mix[14] - Wallcover accounts for 11% of the Composite Fibers sales mix[14] Spunlace - Consumer Wipes account for 33% of Spunlace sales mix[17] - Critical Cleaning represents 31% of the Spunlace sales mix[17] - Health Care accounts for 19% of the Spunlace sales mix[17] Financial Performance & Outlook - Glatfelter expects Q4 2022 EBITDA to be in the range of $23 million to $26 million[27] - The company anticipates depreciation and amortization expense to be approximately $66 million[27] - Glatfelter expects capital expenditures to be approximately $35 million to $40 million, including $4 million to $5 million for Spunlace integration[27]

Glatfelter Corporation (NYSE:GLT) Q3 2022 Earnings Conference Call November 3, 2022 11:00 AM ET Company Participants Ramesh Shettigar - SVP, CFO and Corporate Treasurer Thomas Fahnemann - President and CEO Conference Call Participants Mitra Ramgopal - Sidoti and Company Operator Good day, and welcome to the Q3 2022 Glatfelter earnings conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Ramesh Shettigar from Glatfelter. Please go ahead, sir. Ramesh ...

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, 2022 or | (Registrant's telephone number, including area code) | | | | | --- | --- | --- | --- | | Commission file | Exact name of registrant as | IRS Employer | State or other jurisdiction of | | number | specified in its charter | Identification No. | incorporation or organization | | 1-03560 ...

Glatfelter Corporation (NYSE:GLT) Q2 2022 Earnings Conference Call August 2, 2022 11:00 AM ET Company Participants Ramesh Shettigar – Senior Vice President, Chief Financial Officer and Corporate Treasurer Dante Parrini – Chairman and Chief Executive Officer Conference Call Participants Operator Good day, and welcome to the Glatfelter’s Quarterly Earnings Release Conference Call. Today's conference is being recorded. At this time, I'd like to turn the call over to Mr. Ramesh, your speaker for today. Please g ...

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 June 30, 2022 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 are ...

G L A T F E L T E R 2022 Second Quarter Earnings Conference Call Dante C. Parrini, Chairman & CEO Ramesh Shettigar, SVP, CFO & Treasurer August 2, 2022 NYSE: GLT Forward Looking Statements and Use of Non-GAAP Financial Measures Any statements included in this presentation which pertain to future financial and business matters are "forwardlooking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The Company uses words such as " ...

G L A T F E L T E R Sidoti Summer Small Cap Virtual Conference June 16, 2022 NYSE: GLT Dante C. Parrini, Chairman & CEO Ramesh Shettigar, SVP – CFO & Treasurer 1 Forward Looking Statements and Use of Non-GAAP Financial Measures Any statements included in this presentation which pertain to future financial and business matters are "forwardlooking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The Company uses words such as " ...

Company Strategy & Transformation - Glatfelter is evolving into a leading engineered materials company with multiple growth platforms and a commitment to ESG and an inclusive culture[5,6] - The company is focused on executing integration of recent acquisitions, addressing inflation, actively managing the Russia/Ukraine crisis, driving cash flow, and accelerating innovation[5] - Glatfelter is enhancing protection mechanisms to address raw material & energy inflation through dynamic pricing[39] Financial Performance & Priorities - Glatfelter's near-term financial priorities include maximizing financial flexibility and maintaining access to liquidity, with a \$400 million revolving credit facility largely undrawn[20] - The company amended its debt covenant to allow maximum leverage up to 675x through Q4 2023 for added financial flexibility[20] - Net leverage increased to 48x at March 31, 2022, versus 38x at December 31, 2021, driven by lower earnings and higher working capital usage[31] - TTM Q1 2022 Adjusted Free Cash Flow from continuing operations was approximately \$785 million lower versus the same period last year[27] Segment Performance - Airlaid Materials experienced volume growth in all product categories except tabletop in 2020, with 2021 growth primarily driven by the addition of the Mount Holly acquisition[21] Approximately 70% of revenues have raw material cost pass-through protection[8] - Composite Fibers' profitability was impacted by inflation and the Russia/Ukraine conflict, with an asset and goodwill impairment charge of approximately \$121 million recorded in Q1 2022[22,23] - Spunlace experienced peak revenue in 2020 driven by a global surge in demand for nonwoven materials arising from COVID, with 2021 volume softness due to supply chain inventory correction[26]