3 unchanged sentences
Profit margins in Aluminum Extrusions are sensitive to fluctuations in aluminum ingot and scrap prices as well as natural gas prices (natural gas is the principal energy source used to operate its casting furnaces).
−Removed: Changes in polyethylene resin prices and the timing of those changes could have a significant impact on profit margins in PE Films.
+Added: Changes in polyethylene resin prices and the timing of those changes could have a significant impact on profit margins in High Performance Films.
There is no assurance of the Company’s ability to pass through higher raw material and energy costs to its customers.
9 unchanged sentences
The volatility of average quarterly prices of polyethylene resin in the U.S.
−Removed: (a primary raw material for PE Films products) is shown in the chart below:
+Added: (a primary raw material for High Performance Films products) is shown in the chart below:
Quarterly averages computed by Tredegar using monthly data provided by IHS, Inc.
−Removed: In February 2020, IHS reflected a 32 cents per pound non-market adjustment based on their estimate of the growth of discounts in prior periods.
−Removed: The 4th quarter 2019 average rate of $0.51 per pound is shown on a pro forma basis as if the non-market adjustment was made in the fourth quarter of 2019.
In January 2023, IHS reflected a 41 cents per pound non-market adjustment based on their estimate of the growth of discounts in the prior periods.
2 unchanged sentences
Selling prices to customers are set considering numerous factors, including the expected volatility of resin prices.
−Removed: In certain situations, PE Films has index-based pass-through raw material cost arrangements with customers.
+Added: In certain situations, High Performance Films has index-based pass-through raw material cost arrangements with customers.
However, under certain agreements, changes in resin prices are not passed through for a period of 90 days or more.
23 unchanged sentences
The Company’s foreign currency exposure on income from continuing foreign operations relates to the Chinese Yuan.
−Removed: PE Films is generally able to match the currency of its sales and costs for its product lines.
+Added: High Performance Films is generally able to match the currency of its sales and costs for its product lines.
Tredegar estimates that the change in the value of foreign currencies relative to the U.S.
−Removed: Dollar on PE Films had an unfavorable impact on EBITDA from ongoing operations in PE Films of $0.1 million in 2024 compared to 2023.
+Added: Dollar on High Performance Films had an unfavorable impact on EBITDA from ongoing operations in High Performance Films of $0.6 million in 2025 compared to 2024.
Trends for the Chinese Yuan are shown in the chart below:
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.