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TREDEGAR CORP

CIK:0000850429|SEC Filings

Condensed Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues and other:
Sales	$ 216,236	$ 179,116	$ 402,725	$ 343,853
Other income (expense), net	40	1,385	83	1,376
Total revenues, net of other expenses	216,276	180,501	402,808	345,229
Costs and expenses:
Selling, general and administrative	20,125	20,557	36,541	41,217
Research and development	178	193	355	357
Amortization of identifiable intangibles	440	440	879	879
Pension and postretirement benefits	25	27	63	3
Interest expense	465	1,785	824	2,798
Asset impairments and costs associated with exit and disposal activities, net of adjustments	9	(1)	15	17
Total	208,498	177,689	388,928	341,169
Income (loss) from continuing operations before income taxes	7,778	2,812	13,880	4,060
Income tax expense (benefit)	1,731	984	2,763	1,560
Net income (loss) from continuing operations	6,047	1,828	11,117	2,500
Income (loss) from discontinued operations, net of tax	(30)	(97)	561	9,332
Net income (loss)	$ 6,017	$ 1,731	$ 11,678	$ 11,832
Basic:
Continuing operations (in dollars per share)	$ 0.17	$ 0.05	$ 0.32	$ 0.07
Discontinued operations (in dollars per share)	0	0	0.02	0.27
Basic earnings (loss) per share (in dollars per share)	0.17	0.05	0.34	0.34
Diluted:
Continuing operations (in dollars per share)	0.17	0.05	0.32	0.07
Discontinued operations (in dollars per share)	0	0	0.02	0.27
Diluted earnings (loss) per share (in dollars per share)	$ 0.17	$ 0.05	$ 0.34	$ 0.34
Shares used to compute earnings (loss) per share:
Basic (in shares)	34,844	34,775	34,771	34,694
Diluted (in shares)	34,844	34,775	34,771	34,694
Cost of goods sold
Costs and expenses:
Cost of goods and services sold	$ 180,784	$ 148,535	$ 338,280	$ 284,178
Freight
Costs and expenses:
Cost of goods and services sold	$ 6,472	$ 6,153	$ 11,971	$ 11,720

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2024
Cash flows from operating activities:
Net income (loss)	$ 6,017	$ 1,731	$ 11,678	$ 11,832
Adjustments for noncash items:
Depreciation			9,857	10,018
Amortization of identifiable intangibles			879	879
Reduction of right-of-use leased assets			1,096	1,064
Deferred income taxes			1,956	1,209
Accrued pension and post-retirement benefits			63	107
Stock-based compensation expense			256	919
Gain on the sale of assets			0	(1,492)
Gain on the sale of divested business	0	0	(565)	(9,657)	$ 74,900
Changes in assets and liabilities:
Accounts and other receivables			(15,637)	(14,016)
Inventories			(23,101)	(15,263)
Income taxes recoverable/payable			(176)	(349)
Prepaid expenses and other			7,531	8,897
Accounts payable and accrued expenses			14,559	2,336
Lease liability			(1,286)	(1,240)
Pension and postretirement benefit plan contributions			(58)	(291)
Other, net			625	2,195
Net cash provided by (used in) operating activities			7,677	(2,852)
Cash flows from investing activities:
Capital expenditures			(9,266)	(5,638)
Proceeds from the sale of Terphane			565	9,835
Proceeds from the sale of assets			0	1,904
Net cash (used in) provided by investing activities			(8,701)	6,101
Cash flows from financing activities:
Borrowings			105,900	88,197
Debt principal payments			(94,962)	(87,494)
Debt financing costs			0	(1,272)
Net cash provided by (used in) financing activities			10,938	(569)
Effect of exchange rate changes on cash			536	53
Increase (decrease) in cash and cash equivalents			10,450	2,733
Cash and cash equivalents at beginning of period			6,729	7,062
Cash and cash equivalents at end of period	$ 17,179	$ 9,795	$ 17,179	$ 9,795	$ 7,062

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 17,179	$ 6,729
Accounts and other receivables, net	97,451	81,811
Income taxes recoverable		47
Inventories	88,081	64,962
Prepaid expenses and other	7,278	15,525
Total current assets	209,989	169,074
Property, plant and equipment, at cost	521,181	509,430
Less: accumulated depreciation	(386,069)	(376,455)
Net property, plant and equipment	135,112	132,975
Right-of-use leased assets	14,419	12,764
Identifiable intangible assets, net	4,689	5,568
Goodwill	22,446	22,446
Deferred income taxes	24,501	26,277
Other assets	1,769	2,268
Total assets	412,925	371,372
Current liabilities:
Accounts payable	94,455	75,754
Accrued expenses	23,857	25,411
Lease liability, short-term	2,585	2,263
Short-term debt	0	498
Income taxes payable	232	455
Total current liabilities	121,129	104,381
Lease liability, long-term	12,103	10,960
ABL revolving facility	46,000	34,550
Pension and other postretirement benefit obligations, net	1,279	1,196
Other non-current liabilities	3,848	3,731
Total liabilities	184,359	154,818
Shareholders’ equity:
Common stock, no par value (authorized shares 150,000,000, issued and outstanding 34,925,717 shares at June 30, 2026 and 34,737,534 shares at December 31, 2025)	65,755	65,477
Common stock held in trust for savings restoration plan (118,542 shares at June 30, 2026 and December 31, 2025)	(2,233)	(2,233)
Accumulated other comprehensive income (loss):
Foreign currency translation adjustment	6,241	5,566
Gain (loss) on derivative financial instruments	513	1,071
Pension and other postretirement benefit adjustments	(276)	(215)
Retained earnings	158,566	146,888
Total shareholders’ equity	228,566	216,554
Total liabilities and shareholders’ equity	$ 412,925	$ 371,372