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TREDEGAR CORP

For the period ended Nov 7, 2025. Filed Nov 7, 2025.

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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Nov 7, 2025 · Filed Nov 7, 2025

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EX-99 · FORWARD-LOOKING AND CAUTIONARY STATEMENTS

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

Some of the information contained in this press release may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. When the Company uses the words “believe,” “estimate,” “anticipate,” “appear to,” “expect,” “project,” “plan,” “likely,” “may” and similar expressions, it does so to identify forward-looking statements. Such statements are based on the Company's then current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Factors that could cause actual results to differ materially from expectations include, without limitation, the following:

the impact of macroeconomic factors, such as inflation, interest rates and recession risks;

an increase in the operating costs incurred by the Company’s business units, including, for example, the cost of raw materials and energy;

noncompliance with any of the financial and other restrictive covenants in the ABL Facility;

failure to continue to attract, develop and retain certain key officers or employees;

disruptions to the Company’s manufacturing facilities, including those resulting from labor shortages;

an information technology system failure or breach;

risks of doing business in countries outside the U.S. that affect our international operations;

the impact of public health epidemics on employees, production and the global economy, such as the COVID-19 pandemic;

political, economic and regulatory factors concerning the Company’s products;

inability to develop, efficiently manufacture and deliver new products at competitive prices;

the impact of the imposition of tariffs and sanctions on imported aluminum ingot used by Bonnell Aluminum;

failure by governmental entities to prevent foreign companies from evading antidumping and countervailing duties;

unanticipated problems or delays with the implementation of the enterprise resource planning and manufacturing executions systems, or security breaches and other disruptions to the Company's information technology infrastructure;

loss of sales to significant customers on which the Company’s business is highly dependent;

inability to achieve sales to new customers to replace lost business;

failure of the Company’s customers to achieve success or maintain market share;

failure to protect our intellectual property rights;

inability to successfully complete strategic acquisitions or dispositions, failure to realize the expected benefits of such acquisitions or dispositions, and assumption of unanticipated risks in such acquisitions or dispositions;

and the other factors discussed in the reports Tredegar files with or furnishes to the Securities and Exchange Commission (the “SEC”) from time to time, including the risks and important factors set forth in additional detail in Part I, Item 1A. Risk Factorsof the Company’s Form 10-K for the year ended December 31, 2024. Readers are urged to review and consider carefully the disclosures Tredegar makes in its filings with the SEC.

Tredegar does not undertake, and expressly disclaims any duty, to update any forward-looking statement made in this press release to reflect any change in management’s expectations or any change in conditions, assumptions or circumstances on which such statements are based, except as required by applicable law.

To the extent that the financial information portion of this press release contains non-GAAP financial measures, it also presents both the most directly comparable financial measures calculated and presented in accordance with GAAP and a quantitative reconciliation of the difference between any such non-GAAP measures and such comparable GAAP financial measures. Reconciliations of non-GAAP financial measures are provided in the Notes to the Financial Tables included with this press release and can also be found within “Presentations” in the “Investors” section of our website, www.tredegar.com.

Tredegar uses its website as a channel of distribution of material company information. Financial information and other material information regarding Tredegar is posted on and assembled in the “Investors” section of its website.

Tredegar Corporation is an industrial manufacturer with two primary businesses: custom aluminum extrusions for the North American building & construction, automotive and specialty end-use markets and surface protection films for high-technology applications in the global electronics industry. With approximately 1,700 employees, the Company operates manufacturing facilities in North America and Asia.

Tredegar Corporation
Condensed Consolidated Statements of Income
(In Thousands, Except Per-Share Data)
(Unaudited)
Three Months Ended · Nine Months Ended
September 30,September 30,
2025202420252024
Sales$194,942$146,064$538,796$443,976
Other income (expense), net (c)4(26)1,381304
194,946146,038540,177444,280
Cost of goods sold (c)157,209122,471441,387356,591
Freight6,5895,46818,30915,812
Selling, R&D and general expenses (c)20,37218,97461,94754,713
Amortization of identifiable intangibles4404401,3191,339
Pension and postretirement benefits275430163
Interest expense7681,1923,5663,515
Asset impairments and costs associated with exit and disposal activities, net of adjustments (c)418—435587
185,823148,599526,993432,720
Income (loss) from continuing operations before income taxes9,123(2,561)13,18411,560
Income tax expense (benefit)2,0148283,5753,175
Net income (loss) from continuing operations7,109(3,389)9,6098,385
Income (loss) from discontinued operations, net of tax(35)(557)9,297(251)
Net income (loss)$7,074$(3,946)$18,906$8,134
Earnings (loss) per share:
Basic:
Continuing operations$0.20$(0.10)$0.28$0.24
Discontinued operations—(0.01)0.27—
Basic earnings (loss) per share$0.20$(0.11)$0.55$0.24
Diluted:
Continuing operations$0.20$(0.10)$0.28$0.24
Discontinued operations—(0.01)0.27—
Diluted earnings (loss) per share$0.20$(0.11)$0.55$0.24
Shares used to compute earnings (loss) per share:
Basic34,77334,39134,72134,364
Diluted34,77334,39134,72134,364
Tredegar Corporation
Net Sales and EBITDA from Ongoing Operations by Segment
(In Thousands)
(Unaudited)
Three Months Ended · Nine Months Ended
September 30,September 30,
2025202420252024
Net Sales
Aluminum Extrusions$162,470$115,717$444,470$349,353
PE Films25,88324,87976,01778,811
Total net sales188,353140,596520,487428,164
Add back freight6,5895,46818,30915,812
Sales as shown in the condensed consolidated statements of income$194,942$146,064$538,796$443,976
EBITDA from Ongoing Operations (f)
Aluminum Extrusions:
Ongoing operations:
EBITDA (b)$16,808$6,177$35,251$31,624
Depreciation & amortization(4,190)(4,404)(12,509)(13,392)
EBIT (b)12,6181,77322,74218,232
Plant shutdowns, asset impairments, restructurings and other (c)(927)(2,170)(2,151)(4,986)
PE Films:
Ongoing operations:
EBITDA (b)$7,221$5,876$21,454$22,913
Depreciation & amortization(1,224)(1,299)(3,705)(3,944)
EBIT (b)5,9974,57717,74918,969
Plant shutdowns, asset impairments, restructurings and other (c)12—13(584)
Total17,7004,18038,35331,631
Interest income651630
Interest expense7681,1923,5663,515
Gain on investment in kaleo, Inc.———144
Corporate expenses, net (c)7,8155,55421,61916,730
Income (loss) from continuing operations before income taxes9,123(2,561)13,18411,560
Income tax expense (benefit)2,0148283,5753,175
Net income (loss) from continuing operations7,109(3,389)9,6098,385
Income (loss) from discontinued operations, net of tax(35)(557)9,297(251)
Net income (loss)$7,074$(3,946)$18,906$8,134
Tredegar Corporation
Condensed Consolidated Balance Sheets
(In Thousands)
(Unaudited)
September 30, 2025December 31, 2024
Assets
Cash & cash equivalents$13,291$7,062
Accounts & other receivables, net87,93164,817
Income taxes recoverable284—
Inventories62,00651,381
Prepaid expenses & other11,37516,567
Total current assets174,887139,827
Property, plant & equipment, net130,397137,032
Right-of-use leased assets13,26714,635
Identifiable intangible assets, net6,0087,326
Goodwill22,44622,446
Deferred income taxes29,67132,517
Other assets2,1302,448
Non-current assets of discontinued operations—126
Total assets$378,806$356,357
Liabilities and Shareholders’ Equity
Accounts payable$79,247$64,704
Accrued expenses22,80122,168
Lease liability, short-term2,3452,453
Short-term debt—1,322
Income taxes payable492320
Current liabilities of discontinued operations—741
Total current liabilities104,88591,708
Lease liability, long-term11,47212,993
ABL revolving facility49,50060,600
Pension and other postretirement benefit obligations, net5,7725,914
Deferred income taxes6969
Other non-current liabilities4,9174,105
Shareholders’ equity202,191180,968
Total liabilities and shareholders’ equity$378,806$356,357
Tredegar Corporation
Condensed Consolidated Statements of Cash Flows
(In Thousands)
(Unaudited)
Nine Months Ended September 30,
20252024
Cash flows from operating activities:
Net income (loss)$18,906$8,134
Adjustments for noncash items:
Depreciation15,04118,372
Amortization of intangibles1,3191,410
Reduction of right-of-use assets1,5841,735
Deferred income taxes2,8732,975
Accrued pension and postretirement benefits134163
Stock-based compensation expense1,7591,950
Gain on investment in kaléo—(144)
Gain on the sale of assets(1,497)—
Gain on sale of divested business(9,657)—
Changes in assets and liabilities:
Accounts and other receivables(23,113)(14,683)
Inventories(10,615)(8,711)
Income taxes recoverable/payable(111)(952)
Prepaid expenses and other5,909(286)
Accounts payable and accrued expenses14,407(3,454)
Lease liability(1,800)(2,118)
Pension and postretirement benefit plan contributions(430)(455)
Other, net2,5592,117
Net cash provided by (used in) operating activities17,2686,053
Cash flows from investing activities:
Capital expenditures(9,246)(7,696)
Proceeds from the sale of Terphane9,835—
Proceeds on sale of investment in kaléo—144
Proceeds from the sale of assets1,90483
Net cash provided by (used in) investing activities2,493(7,469)
Cash flows from financing activities:
Borrowings103,747519,274
Debt principal payments(116,173)(522,240)
Debt financing costs(1,272)(587)
Net cash provided by (used in) financing activities(13,698)(3,553)
Effect of exchange rate changes on cash166(1,898)
Increase (decrease) in cash and cash equivalents6,229(6,867)
Cash and cash equivalents at beginning of period7,06213,455
Cash and cash equivalents at end of period$13,291$6,588
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.