Tredegar Q4 Net Income From Ongoing Operations Declines; Net Sales Down 11.8%

Tredegar Corporation (TG) reported a fourth quarter net loss from continuing operations of $3.9 million or $0.11 per share compared to net income of $21.4 million or $0.63 per share, prior year. Net income from ongoing operations was $0.5 million or $0.02 per share compared to $6.2 million or $0.18 per share.

Sales declined to $189.15 million from $220.99 million, prior year. Net sales in the fourth quarter of 2022 decreased 11.8% versus 2021 primarily due to lower sales volume and the pass-through of lower metal costs, partially offset by an increase in average selling prices to cover higher operating costs.

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