Quote data as of 6:30 PM ET
Mativ Holdings, Inc. operates as a performance materials company. The company operates through two segments, Advanced Materials & Structures (AMS), and Engineered Papers (EP). The AMS segment manufactures resin-based rolled goods, such as nets, films and meltblown materials, bonding products, and adhesive components, as well as adhesives and other coating solutions, and converting services. It serves healthcare, construction, industrial, transportation, and filtration end-markets. The EP segment produces various cigarette papers and reconstituted tobacco products for the tobacco industry. It also produces non-tobacco papers for various applications, such as energy storage and industrial commodity paper grades. The company sells its products in the United States, Europe and the former Commonwealth of Independent States, the Asia Pacific, the Americas, and internationally. The company was formerly known as Schweitzer-Mauduit International, Inc. and changed its name to Mativ Holdings, Inc. in July 2022. Mativ Holdings, Inc. was incorporated in 1995 and is headquartered in Alpharetta, Georgia.
Mativ reported Q1 sales of $479.6 million, slightly down 1.1% year-over-year, but achieved significant profitability gains with Adjusted EBITDA rising 28% to $47.5 million and margins expanding 220 basis points.
Adjusted EPS was $0.06, a sharp turnaround from the prior year's loss, driven by operational efficiencies and favorable pricing, while free cash flow improved significantly to a negative $7.4 million.
The company announced a quarterly dividend of $0.10 per share and extended the maturity of its credit facilities, bolstering its liquidity profile.