Glatfelter Corporation reported its results for the 4Q 2020. On an adjusted basis, earnings from continuing operations for the three months ended December 31, 2020 and 2019, were $9.6 million, or $0.22 per share, compared with $7.7 million, or $0.17 per share, respectively.
Consolidated net sales for 4Q 2020 totaled $235.3 million compared with $231 million during the same period in 2019. On a constant currency basis, Composite Fibers’ and Airlaid Materials’ net sales decreased by 1.4% and 5.2%, respectively.
“Glatfelter delivered robust earnings in the 4Q, further contributing to a strong year amid unforeseen global economic challenges resulting from the pandemic,” said Dante C. Parrini, Chairman and CEO. “As businesses across the globe faced unprecedented volatility, Glatfelter continued to make progress by focusing on employee health and safety and overall operational excellence while ensuring uninterrupted supply of critical products to our customers, thereby achieving full-year adjusted EBITDA growth of 12%. We continued to realize operational and strategic benefits of our transformation that included an optimized portfolio comprised of over 85% essential consumer staples, and an improved cost structure from a flatter and more agile operating model. Also, we generated significant cash flow that translated into meaningful debt reduction, resulting in a very healthy balance sheet.”
Glatfelter Corporation is a leading global supplier of engineered materials.
