Revenue: As of FY2026 Q2, the actual value is USD 796 M, missing the estimate of USD 809.42 M.

EPS: As of FY2026 Q2, the actual value is USD -0.5, missing the estimate of USD -0.11.

EBIT: As of FY2026 Q2, the actual value is USD 52 M.

Second Quarter 2026 Highlights

Magnera Corporation reported GAAP net sales of $796 million and operating income of $17 million for the second quarter . Non-GAAP Adjusted EBITDA was $90 million, and free cash flow was $73 million, representing a twelve-month adjusted free cash flow yield of over 40% as of quarter-end . The company made $36 million in debt repayments during the quarter .

GAAP Results - March Quarter (2026 vs. 2025)

• Net sales: $796 million in 2026 compared to $824 million in 2025 .
• Operating income: $17 million in 2026, an increase from $4 million in 2025 .
• Net income (loss): - $18 million in 2026, an improvement from - $41 million in 2025 .
• Basic and diluted net income per share: - $0.50 in 2026 compared to - $1.15 in 2025 .

GAAP Results - March Year-to-Date (YTD) (2026 vs. 2025)

• Net sales: $1,588 million in 2026, up from $1,526 million in 2025 .
• Operating income: $31 million in 2026, a significant improvement from - $18 million in 2025 .
• Net income (loss): - $52 million in 2026, an improvement from - $101 million in 2025 .
• Basic and diluted net income per share: - $1.45 in 2026 compared to - $2.85 in 2025 .

Adjusted Non-GAAP Results - March Quarter (2026 vs. 2025)

• Net sales: $796 million in 2026, a -3% reported decrease and -9% comparable decrease from $824 million in 2025 .
• Adjusted EBITDA: $90 million in 2026, a 1% reported increase but a -1% comparable decrease from $89 million in 2025 .

Adjusted Non-GAAP Results - March Year-to-Date (YTD) (2026 vs. 2025)

• Net sales: $1,588 million in 2026, a 4% reported increase but a -8% comparable decrease from $1,526 million in 2025 .
• Adjusted EBITDA: $183 million in 2026, a 6% reported increase but a -1% comparable decrease from $173 million in 2025 .

Operational Details and Drivers (March Quarter)

• The net sales decline was attributed to a $57 million decrease in selling prices (due to product mix and lower raw material costs) and a 2% organic volume decline, partially offset by $48 million in favorable foreign currency changes . The volume decline was primarily due to winter storm disruptions in North America and general market softness in Europe .
• Adjusted EBITDA increased by 1% due to a $2 million favorable price-cost spread and a $2 million favorable foreign currency benefit, partially offset by lower volumes .

Segment Performance - March Quarter (2026)

• Americas: Net sales were $437 million, with a decline driven by a $42 million decrease in selling prices and a 1% organic volume decline due to North American winter storm disruptions . Adjusted EBITDA was $58 million, with a decline primarily from a - $5 million unfavorable price-cost spread .
• Rest of World: Net sales were $359 million, with an increase from a $37 million favorable foreign currency change, partially offset by a - $15 million decrease in selling prices and a 4% organic volume decline due to European market softness . Adjusted EBITDA was $32 million, increasing primarily from a $7 million favorable price-cost spread (synergy realization and mix improvement) and a $2 million favorable foreign currency benefit, partially offset by softer volumes .

Cash Flow (Two Quarterly Periods Ended March 28, 2026 vs. March 29, 2025)

• Net cash from operating activities: $89 million in 2026 compared to $7 million in 2025 .
• Additions to property, plant, and equipment, net: - $29 million in 2026 compared to - $39 million in 2025 .
• Free Cash Flow: $60 million for the year-to-date period in 2026 . For the quarter ended March 28, 2026, free cash flow was $73 million .
• Net cash used in investing activities: - $29 million in 2026 compared to $20 million from investing activities in 2025 .
• Net cash used in financing activities: - $63 million in 2026 compared to $32 million from financing activities in 2025 . Repayments on long-term borrowings were - $63 million in 2026 .

Balance Sheet (March 28, 2026 vs. September 27, 2025)

• Cash and cash equivalents: $303 million in 2026 compared to $305 million in 2025 .
• Total assets: $3,896 million in 2026 compared to $3,989 million in 2025 .
• Current and long-term debt: $1,899 million in 2026 compared to $1,952 million in 2025 .
• Stockholders’ equity: $1,039 million in 2026 compared to $1,064 million in 2025 .

Outlook / Guidance

Magnera Corporation is committed to delivering on its full-year 2026 Adjusted EBITDA and free cash flow guidance . The company’s strategy focuses on cost optimization, portfolio differentiation, and commercial excellence . These priorities are expected to drive growth in long-term shareholder value .