Industry News

Tredegar Corp. reports total Q2 2020 net income down 22% vs. Q2 2019; certain markets perform well

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Richmond, VA-based Tredegar Corp. has reported its second quarter financial results for the period ended June 30, 2020. Second quarter 2020 net income was $11.2 million compared with net income of $14.5 million in the second quarter of 2019.

John Steitz, Tredegar president/CEO, says, “Overall financial results for the second quarter of 2020 were favorable despite COVID-19, which mainly had an adverse impact on our aluminum extrusions business. While our surface protection, flexible packaging and personal-care businesses have performed well under COVID-19 to date, its future impact is uncertain. 

“Our top priority continues to be the safety of our employees. Our balance sheet remains strong, with cash exceeding debt at the end of the second quarter by $5.9 million for the first time since the acquisition of Terphane in October of 2011.”



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