Glatfelter Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Glatfelter (GLT) reported, on an adjusted basis, third-quarter earnings per share from continuing operations of $0.22, compared to break even per share, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.18, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter consolidated net sales totaled $232.5 million compared to $209.9 million, a year ago. Analysts expected revenue of $244.65 million for the quarter.

Dante Parrini, CEO, said: "In the third quarter, Airlaid Materials had another record-setting quarter growing both volumes and net sales by nearly 50% and more than doubling operating profit over the prior year. These results were driven by a 16% increase in year-over-year shipments from our legacy business, as well as the successful integration of our Steinfurt acquisition."