Mativ Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 05:07 pm EST
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Mativ Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 498.2 million compared to USD 551.5 million a year ago. Net loss was USD 455 million compared to USD 22.5 million a year ago. Basic loss per share from continuing operations was USD 8.5 compared to USD 0.65 a year ago. Diluted loss per share from continuing operations was USD 8.5 compared to USD 0.65 a year ago. Basic loss per share was USD 8.33 compared to USD 0.43 a year ago. Diluted loss per share was USD 8.33 compared to USD 0.43 a year ago.
For the nine months, sales was USD 1,573.7 million compared to USD 1,112.5 million a year ago. Net loss was USD 467.2 million compared to USD 9.1 million a year ago. Basic loss per share from continuing operations was USD 9.06 compared to USD 1.74 a year ago. Diluted loss per share from continuing operations was USD 9.06 compared to USD 1.74 a year ago. Basic loss per share was USD 8.57 compared to USD 0.25 a year ago. Diluted loss per share was USD 8.57 compared to USD 0.25 a year ago.
Mativ Holdings, Inc. is a specialty materials company, which offers a range of critical components and engineered solutions. The Company manufactures through its family of business-to-business and consumer product brands. It targets applications across diversified end-markets, from filtration to healthcare to sustainable packaging and others. Its portfolio of technologies combines polymers, fibers, and resins to optimize the performance of its customers products across multiple stages of the value chain. The Company operates through two segments: Filtration and Advanced Materials, and Sustainable & Adhesive Solutions. Filtration and Advanced Materials segment is focused primarily on filtration and protective solutions end markets. Sustainable & Adhesive Solutions segment is focused primarily on release liner, industrials, healthcare, and packaging and specialty papers end markets.