Magnera Reports Third Quarter Results

Third Quarter Highlights * GAAP: Net sales of $857 million, Operating income of $22 million * Non-GAAP: Adjusted EBITDA of $99 million * Twelve-month adjusted free cash flow yield of greater than 25% as of quarter-end Curt Begle, Magnera’s CEO, commented: “We delivered a record third quarter led by organic volume growth, combined with the savings benefits of synergy initiatives and Project Core. In addition, our commercial team executed the disciplined actions required to effectively manage the significant spike in inflationary costs of certain raw materials.

As we continue to navigate a dynamic macro-economic environment, we remain focused on executing our strategic objectives and delivering dependable financial results. Consistent with that commitment, we are reaffirming our full-year free cash flow outlook, while holding to the lower end of our adjusted EBITDA guidance range.”