Mativ Announces Second Quarter 2024 Results

Mativ Second Quarter 2024 Highlights
*Sales of $523.8 million increased 4.7% sequentially versus Q1 2024 reflecting volume improvement, and decreased 0.5% versus the prior year
*GAAP loss was $1.4 million, GAAP EPS was $(0.03), which included organizational realignment, impairment, divestiture and purchase accounting expenses

Chief Executive Officer Julie Schertell commented, “We are pleased to report that our second quarter results reflect strong adjusted EBITDA and margin growth, both on a year-over-year basis, as well as sequentially. This was driven by strong relative net selling price vs. input cost performance, increased volume and improved operating performance. We are confident in our ability to deliver strong adjusted EBITDA improvement on a year-over-year basis for the remaining quarters of 2024.”

Ms. Schertell concluded, “July marked the two-year anniversary of the merger of SWM and Neenah to create Mativ. The past two years have been marked with significant accomplishments in transforming Mativ into an enterprise that is more agile and well-positioned for the future. These actions included divesting non-strategic businesses, closing and consolidating sites, integrating our systems, and restructuring our organization to be more lean, adaptable and scalable. As we head into our third year as a company, we continue to be relentlessly focused on delivering value to our customers, aggressively reducing complexity and costs, and delivering adjusted EBITDA and margin improvements. We are pleased with our execution and look forward to creating incremental value for our customers and shareholders.”
details at: https://ir.mativ.com/news/news-details/2024/Mativ-Announces-Second-Quarter-2024-Results/default.aspx

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