Magnera reports Q2 results, adjusts full-year outlook

Net sales for the quarter reached $824 million, up 48% compared to the prior year, largely due to $311 million in revenue from the Glatfelter acquisition. Operating income on a GAAP basis was $4 million, while adjusted EBITDA stood at $89 million, a 17% increase year-over-year. Post-merger adjusted free cash flow was $42 million.

“This quarter underscores the resilience of our business as we navigate ongoing global economic uncertainty,” said Curt Begle, Magnera’s CEO. “Our team has transitioned from stabilizing the business through a disciplined integration plan to actively executing on identified optimization opportunities. As anticipated, our distinctive value proposition—anchored by our global market presence, broad product portfolio, and innovation capabilities—continues to drive organic growth in attractive end markets as we support our customers’ evolving product requirements.”

Despite strength in core operations, the company cited tariff-driven demand uncertainty and foreign currency pressures as challenges. “In the face of uncertainties related to tariff driven demand concerns, we remain laser focused on executing our strategic priorities of integration, synergy realization, and profitable long-term growth,” Begle said. “Our portfolio is primarily made up of products that people use every day, however we are prepared to take the appropriate operational and cost measures that align with short-term market realities. Our commitment to earnings and free cash flow stability will ultimately increase long-term shareholder value.”

Adjusted EBITDA included an $18 million contribution from Glatfelter, though this was partially offset by currency impacts and price/cost spread pressures. Free cash flow from operations reached $65 million for the quarter. Magnera reported total net debt of $1.7 billion and a leverage ratio of 3.9x.

Regionally, the Americas segment saw gains from the merger but also faced foreign exchange headwinds and lower selling prices. In the "Rest of World" segment, merger contributions were tempered by a 3% volume decline and higher energy costs in Europe.

Looking ahead, Magnera reaffirmed its post-merger adjusted free cash flow guidance of $75–95 million for the full fiscal year but lowered its comparable adjusted EBITDA forecast to $360–380 million.

The company hosted an investor call on May 7, 2025, to discuss the results in detail. A replay of the webcast is available on Magnera’s website.

With operations across 46 facilities and over 9,000 employees, Magnera supplies material solutions for hygiene, personal care, construction, and food and beverage sectors. The company emphasizes its long-standing commitment to innovation and partnership, continuing its mission to “better the world with new possibilities made real.”