TREDEGAR CORP
For the period ended Nov 7, 2025. Filed Nov 7, 2025.
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Nov 7, 2025 · Filed Nov 7, 2025
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Contents
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, | |||
| 2025 | 2024 | 2025 | 2024 | |
| Sales | $194,942 | $146,064 | $538,796 | $443,976 |
| Other income (expense), net (c) | 4 | (26) | 1,381 | 304 |
| 194,946 | 146,038 | 540,177 | 444,280 | |
| Cost of goods sold (c) | 157,209 | 122,471 | 441,387 | 356,591 |
| Freight | 6,589 | 5,468 | 18,309 | 15,812 |
| Selling, R&D and general expenses (c) | 20,372 | 18,974 | 61,947 | 54,713 |
| Amortization of identifiable intangibles | 440 | 440 | 1,319 | 1,339 |
| Pension and postretirement benefits | 27 | 54 | 30 | 163 |
| Interest expense | 768 | 1,192 | 3,566 | 3,515 |
| Asset impairments and costs associated with exit and disposal activities, net of adjustments (c) | 418 | — | 435 | 587 |
| 185,823 | 148,599 | 526,993 | 432,720 | |
| Income (loss) from continuing operations before income taxes | 9,123 | (2,561) | 13,184 | 11,560 |
| Income tax expense (benefit) | 2,014 | 828 | 3,575 | 3,175 |
| Net income (loss) from continuing operations | 7,109 | (3,389) | 9,609 | 8,385 |
| 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: | ||||
| Basic | 34,773 | 34,391 | 34,721 | 34,364 |
| Diluted | 34,773 | 34,391 | 34,721 | 34,364 |
| Tredegar Corporation | ||||
|---|---|---|---|---|
| Net Sales and EBITDA from Ongoing Operations by Segment | ||||
| (In Thousands) | ||||
| (Unaudited) | ||||
| Three Months Ended · Nine Months Ended | ||||
| September 30, | September 30, | |||
| 2025 | 2024 | 2025 | 2024 | |
| Net Sales | ||||
| Aluminum Extrusions | $162,470 | $115,717 | $444,470 | $349,353 |
| PE Films | 25,883 | 24,879 | 76,017 | 78,811 |
| Total net sales | 188,353 | 140,596 | 520,487 | 428,164 |
| Add back freight | 6,589 | 5,468 | 18,309 | 15,812 |
| 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) | 12,618 | 1,773 | 22,742 | 18,232 |
| 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) | 5,997 | 4,577 | 17,749 | 18,969 |
| Plant shutdowns, asset impairments, restructurings and other (c) | 12 | — | 13 | (584) |
| Total | 17,700 | 4,180 | 38,353 | 31,631 |
| Interest income | 6 | 5 | 16 | 30 |
| Interest expense | 768 | 1,192 | 3,566 | 3,515 |
| Gain on investment in kaleo, Inc. | — | — | — | 144 |
| Corporate expenses, net (c) | 7,815 | 5,554 | 21,619 | 16,730 |
| Income (loss) from continuing operations before income taxes | 9,123 | (2,561) | 13,184 | 11,560 |
| Income tax expense (benefit) | 2,014 | 828 | 3,575 | 3,175 |
| Net income (loss) from continuing operations | 7,109 | (3,389) | 9,609 | 8,385 |
| 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, 2025 | December 31, 2024 | |
| Assets | ||
| Cash & cash equivalents | $13,291 | $7,062 |
| Accounts & other receivables, net | 87,931 | 64,817 |
| Income taxes recoverable | 284 | — |
| Inventories | 62,006 | 51,381 |
| Prepaid expenses & other | 11,375 | 16,567 |
| Total current assets | 174,887 | 139,827 |
| Property, plant & equipment, net | 130,397 | 137,032 |
| Right-of-use leased assets | 13,267 | 14,635 |
| Identifiable intangible assets, net | 6,008 | 7,326 |
| Goodwill | 22,446 | 22,446 |
| Deferred income taxes | 29,671 | 32,517 |
| Other assets | 2,130 | 2,448 |
| Non-current assets of discontinued operations | — | 126 |
| Total assets | $378,806 | $356,357 |
| Liabilities and Shareholders’ Equity | ||
| Accounts payable | $79,247 | $64,704 |
| Accrued expenses | 22,801 | 22,168 |
| Lease liability, short-term | 2,345 | 2,453 |
| Short-term debt | — | 1,322 |
| Income taxes payable | 492 | 320 |
| Current liabilities of discontinued operations | — | 741 |
| Total current liabilities | 104,885 | 91,708 |
| Lease liability, long-term | 11,472 | 12,993 |
| ABL revolving facility | 49,500 | 60,600 |
| Pension and other postretirement benefit obligations, net | 5,772 | 5,914 |
| Deferred income taxes | 69 | 69 |
| Other non-current liabilities | 4,917 | 4,105 |
| Shareholders’ equity | 202,191 | 180,968 |
| 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, | ||
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $18,906 | $8,134 |
| Adjustments for noncash items: | ||
| Depreciation | 15,041 | 18,372 |
| Amortization of intangibles | 1,319 | 1,410 |
| Reduction of right-of-use assets | 1,584 | 1,735 |
| Deferred income taxes | 2,873 | 2,975 |
| Accrued pension and postretirement benefits | 134 | 163 |
| Stock-based compensation expense | 1,759 | 1,950 |
| 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 other | 5,909 | (286) |
| Accounts payable and accrued expenses | 14,407 | (3,454) |
| Lease liability | (1,800) | (2,118) |
| Pension and postretirement benefit plan contributions | (430) | (455) |
| Other, net | 2,559 | 2,117 |
| Net cash provided by (used in) operating activities | 17,268 | 6,053 |
| Cash flows from investing activities: | ||
| Capital expenditures | (9,246) | (7,696) |
| Proceeds from the sale of Terphane | 9,835 | — |
| Proceeds on sale of investment in kaléo | — | 144 |
| Proceeds from the sale of assets | 1,904 | 83 |
| Net cash provided by (used in) investing activities | 2,493 | (7,469) |
| Cash flows from financing activities: | ||
| Borrowings | 103,747 | 519,274 |
| 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 cash | 166 | (1,898) |
| Increase (decrease) in cash and cash equivalents | 6,229 | (6,867) |
| Cash and cash equivalents at beginning of period | 7,062 | 13,455 |
| Cash and cash equivalents at end of period | $13,291 | $6,588 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.