Third Quarter 2018 Highlights (as compared to third quarter 2017): • Revenue increased 14.6% to $279.1 million primarily due to the Polyair(1) and Airtrax(2) Acquisitions and an increase in average selling price, including the impact of product mix. • Gross margin increased to 21.1% from 20.9% primarily due to an increase in spread between selling prices and combined raw material and freight costs, partially offset by an increase in plant-related operating costs. • Adjusted EBITDA(3) increased 15.9% to $37.6 million primarily due to organic growth in gross profit and adjusted EBITDA contributed by Polyair. Click read more below for additional detail.
Total packaging papers & specialty packaging shipments in March increased three percent compared to March 2020. They were up three percent when compared to the same three months of 2020.
The operating rate was 91.0 percent, down 2.2 points from March 2020 and up 0.6 points year-to-date.
Mill inventories at the end of March decreased 10,000 short tons from the previous month and were up 6,000 short tons compared to March 2020.