Glatfelter Corporation reported its results for the 3Q 2020. On an adjusted basis, earnings from continuing operations for the three months ended September 30, 2020 and 2019, were $7.0 million, or $0.16 per share, compared with $9.7 million, or $0.22 per share, respectively. Adjusted earnings is a non-GAAP financial measure for which a reconciliation to the nearest GAAP-based measure is provided within this release.
Consolidated net sales for the three months ended September 30, 2020 totaled $233.5 million compared with $232.5 million during the same period in 2019. On a constant currency basis, Composite Fibers’ and Airlaid Materials’ net sales decreased by 0.5% and 6.4%, respectively.
“Glatfelter delivered another quarter of solid results as both segments continued to safely produce and deliver essential engineered materials while maintaining a focus on operational excellence and cost discipline,” said Dante C. Parrini, Chairman and CEO.
Glatfelter is a leading global supplier of engineered materials.
