Tredegar (TG) Q4 2025 earnings summary

Executive summary

• Fourth quarter 2025 net income from continuing operations was $14.5M ($0.42/share) vs. a loss of $7.3M ($-0.21/share) in Q4 2024; full year 2025 net income was $24.1M ($0.69/share) vs. $1.0M ($0.03/share) in 2024.

• Net income from ongoing operations (non-GAAP) was $11.0M ($0.32/share) in Q4 2025 vs. $2.0M ($0.06/share) in Q4 2024; full year 2025 was $25.7M ($0.74/share) vs. $17.2M ($0.50/share) in 2024.

• Strong Q4 EBITDA performance in Aluminum Extrusions and solid cash flow in High Performance Films, despite challenging market and tariff conditions.

Financial highlights

• Consolidated sales for 2025 were $722.9M, up from $598.0M in 2024; Q4 sales were $184.1M, up from $154.0M in Q4 2024.

• Consolidated EBITDA from ongoing operations was $58.5M in 2025 vs. $50.5M in 2024; Q4 EBITDA was $18.9M vs. $11.1M in Q4 2024.

• Net debt decreased to $28.4M at year-end 2025 from $54.8M at year-end 2024.

• Effective tax rate from continuing operations was 21.5% in 2025 vs. -18.8% in 2024.

Outlook and guidance

• 2026 outlook remains uncertain due to weather-related disruptions and ongoing tariff pressures; surface protection film volumes expected to soften in Q1 2026 due to customer inventory correction and maintenance.

• Capital expenditures projected at $20M for Aluminum Extrusions and $3M for High Performance Films in 2026.