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Glatfelter Releases Q3 Results

Revenues decrease across the board

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

In the third quarter of 2023, Glatfelter’s net sales were $329.9 million, down from $371.8 million in the third quarter of 2022.

Airlaid Materials’ third quarter net sales decreased $7.3 million to $147 million in the year-over-year comparison mainly driven by lower selling prices from cost pass-through arrangements and lower energy surcharges in Europe as both raw materials and energy input costs declined compared to last year. Shipments were 4.4% lower mainly in feminine hygiene and table top categories driven by residual inventory destocking, European market weakness and potential competition from alternate substrates to manage input costs. Currency translation was favorable by $4.8 million.

Composite Fibers’ revenue was $18.6 million lower in the third quarter of 2023, compared to the year-ago quarter due to lower selling prices of $2.1 million, the sale of Ober-Schmitten mid-quarter this year, and overall shipments down 11.1%. Currency translation was favorable by $6.3 million.

Spunlace revenue was $15.4 million lower in the third quarter of 2023, compared to the year-ago quarter mainly driven by lower shipments of 18.3% and lower selling prices of $0.6 million, which were partially offset by favorable currency translation of $1.3 million.








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