Mativ Q1 GAAP loss $7.7M, adj. EPS $0.25; revenue $679M +66.9%; EBITDA $65.7M; sees improvement H2

Mativ Holdings, Inc.

2023-Q1 EPS reported -$0.14 revenue$679,000,000

GAAP net loss $7.7M ($0.14 loss per share); adjusted EPS $0.25; adjusted EBITDA $65.7M.
Sales $679M, up 66.9% from merger; constant currency organic sales growth 1%; price increases offset lower volumes.
FBS segment adjusted EBITDA down $18.9M to $28.4M; engineered papers hit by French strikes and manufacturing inefficiencies.
ATM segment adjusted EBITDA down $4.7M to $58.8M on de-stocking; cash flow from operations -$20.7M.
Company expects $100M EBITDA quarters exit 2023; $25M synergy execution on track; dividend $0.40 payable June 23.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mativ Holdings, Inc. reported quarter ended March 31, 2023 results: revenue $679.0 million, net income GAAP loss was $7.7 million, EPS $(0.14). Guidance reaffirmed.

Period: quarter ended March 31, 2023
Revenue: $679.0 million
Net income: GAAP loss was $7.7 million
EPS: $(0.14)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of the merger. Please see December 22, 2022 8-K for additional reconciliations of periods prior to the merger. Mativ First Quarter 2023 Highlights • Sales increased 66.9% to $679.0 million, reflecting the benefit of the merger; 1% constant currency organic sales growth • GAAP loss was $7.7 million, GAAP EPS was $(0.14), and GAAP Operating Profit was $9.3 million,

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Source: SEC EDGAR

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