secwatch.observer — SEC 8-K summary
======================================

Issuer:     Mativ Holdings, Inc. (MATV)
CIK:        0001000623
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001000623-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mativ Q4 2023 sales down 13.7% to $452.3M; adjusted EPS $0.23, full year GAAP loss $9.33/share
--------------------------------------------------------------------------------

- Q4 net sales $452.3M (-13.7% YoY); GAAP net loss $13.6M; adjusted EBITDA $50.0M (-20% YoY); adjusted EPS $0.23.
- Full year 2023 GAAP loss $507.7M ($9.33/share) including $413.9M operating loss from goodwill impairment, integration, and restructuring.
- Full year adjusted EBITDA $213.4M; adjusted EPS $0.80; comparable sales down 9% and adjusted EBITDA down 17%.
- Net debt reduced to $984M, down $605M YoY; dividend cut to $0.10/quarter; new restructuring targets $40M cost savings by 2027.
- EP divestiture closed Nov 2023 with $176.3M gain; Merger synergies achieved ahead of plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000623/000100062324000003/0001000623-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000623/000100062324000003/matv-20240221.htm
  HTML page:      https://secwatch.observer/filing/0001000623-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer