MAGN · Magnera Corp.

Magnera Corp. reported second quarter results for the period ended March 28, 2026, with GAAP net sales of $796 million, reflecting a decline from $824 million in the prior year quarter due to a $57 million decrease in selling prices from product mix and lower raw material cost pass-through, a 2% organic volume decline from winter storm disruptions in North America and market softness in Europe, partially offset by $48 million favorable foreign currency changes. GAAP operating income improved to $17 million from $4 million, driven by operational enhancements. Adjusted EBITDA rose slightly to $90 million from $89 million, supported by a $2 million favorable price-cost spread and $2 million foreign currency benefit, offsetting lower volumes. Segment performance showed Americas net sales at $437 million with adjusted EBITDA of $58 million, down due to unfavorable price-cost spread of $5 million and 1% volume decline from storms. Rest of World net sales increased to $359 million with adjusted EBITDA up to $32 million, aided by $7 million price-cost spread from synergies and mix, plus $2 million currency benefit despite 4% volume drop in Europe. CEO Curt Begle highlighted solid execution with $73 million free cash flow, $36 million debt repayments, and reaffirmation of full-year 2026 Adjusted EBITDA and free cash flow guidance, emphasizing cost optimization, portfolio differentiation, and commercial excellence amid global uncertainty. Year-to-date GAAP net sales reached $1,588 million, operating income $31 million, with adjusted EBITDA $183 million.