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![Glatfelter Corp [GLT] reports annual net loss of $79,053,000.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FGLT.png&w=1200&q=75)
Glatfelter Corp [GLT] has reported a net loss of $79,053,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.4 billion
Based in CHARLOTTE, North Carolina, Glatfelter Corp operates in the MANUFACTURING sector.
In the annual report for the financial year ending December 31, 2023, the company reported a decrease in net sales compared to the previous year. Net sales for the current year stood at $1.39 billion, slightly lower than the $1.49 billion recorded in the same period in 2022 and higher than the $1.08 billion in 2021.
The cost of goods sold for the current year amounted to $1.26 billion, down from $1.34 billion in 2022 and significantly higher than the $0.94 billion recorded in 2021.
The company's gross profit for the year was $129.71 million, a decrease from the $148.80 million in 2022 and slightly lower than the $144.80 million in 2021.
Operating income for the year showed a significant improvement, standing at $2.71 million compared to a loss of $163.95 million in 2022 and $28.61 million in 2021.
Net income for the year was reported at a loss of $79.05 million, an improvement from the loss of $194.21 million in 2022 and significantly higher than the profit of $6.94 million in 2021.
Basic earnings per share for the year from continuing operations were reported at a loss of $1.75, an improvement from the loss of $4.33 in 2022 and a positive $0.15 in 2021.
Diluted earnings per share for the year from continuing operations were also reported at a loss of $1.75, showing an improvement from the loss of $4.33 in 2022 and a positive $0.15 in 2021.
Weighted average shares outstanding for both basic and diluted earnings remained relatively stable over the three periods.
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