Tredegar Swings To Profit In Q4; Stock Up 6.6%
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Industrial manufacturer Tredegar Corp. (TG) reported a net income of $14.57 million or $0.42 per share for Q2, a significant turnaround from a net loss of $72.70 million or $2.12 per share in the same quarter last year. Earnings from ongoing operations rose to $0.32 per share from $0.06. However, total sales fell 10% to $184.07 million, mainly due to decreased sales in surface protection films. Following the earnings report, TG's stock rose 6.6% to $8.99 in pre-market trading.
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