Glatfelter reported a net loss of $7.4 million, or $0.17 per share for the 2Q 2018 compared with a net loss of $5.7 million, or $0.13 per share in the 2Q 2017. Consolidated net sales totaled $405.8 million and $387.3 million for the three months ended June 30, 2018 and 2017, respectively.

Printing Papers

Glatfelter improved 2Q net sales to $405.8 million

Glatfelter reported a net loss of $7.4 million, or $0.17 per share for the 2Q 2018 compared with a net loss of $5.7 million, or $0.13 per share in the 2Q 2017. On an adjusted basis, the net loss for the 2Q 2018 was $4.3 million, or $0.10 per diluted share compared with a loss of $2.6 million, or $0.06 per diluted share, for the same period a year ago.

Consolidated net sales totaled $405.8 million and $387.3 million for the three months ended June 30, 2018 and 2017, respectively.

“Significantly higher input costs, and operational challenges in Specialty Papers, led to 2Q results that were below our expectations,” said Dante C. Parrini, Chairman and CEO. “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 Airlaid Materials volume and net sales grew 6% and 16%, respectively, over last year. The additional capacity from the new Fort Smith facility is ramping up and enabling us to meet demand from key customers who serve the growing North American wipes market.”

Glatfelter is a global supplier of specialty papers and engineered materials.