Mativ Holdings, Inc. is a global leader in specialty materials, solving our customers' most complex challenges by engineering bold, innovative solutions that connect, protect and purify our world. Headquartered in Alpharetta, Georgia, we manufacture on three continents and generate sales in over 80 countries through our family of business-to-business and consumer product brands. The company's two operating segments, Filtration & Advanced Materials and Sustainable & Adhesive Solutions, target premium applica ...

ALPHARETTA, Ga.--(BUSINESS WIRE)--Mativ Holdings, Inc. ("Mativ" or the "Company") (NYSE: MATV) today announced the appointment of Scott Minder as Chief Financial Officer, effective January 1, 2026. Mr. Minder will succeed Greg Weitzel, who will remain with the Company through December 31, 2025. Mativ Holdings, Inc. is a global leader in specialty materials, solving our customers' most complex challenges by engineering bold, innovative solutions that connect, protect and purify our world. Headquartered in Al ...

Financial Performance - Consolidated net sales for the three months ended September 30, 2025, were $513.7 million, an increase of $15.2 million or 3.0% compared to the prior-year quarter[162]. - Gross profit for the same period was $99.4 million, reflecting an increase of $5.8 million or 6.2%, with a gross profit margin of 19.3%[165]. - Operating profit for the three months ended September 30, 2025, was $16.0 million, an increase of $9.0 million compared to the prior year[171]. - Consolidated net sales for the nine months ended September 30, 2025 were $1,523.9 million, an increase of $1.4 million, or 0.1%, compared to the prior year[179]. - Gross profit for the nine months ended September 30, 2025 was $275.7 million, a decrease of $10.8 million, or 3.8%, compared to the prior year[182]. - Operating loss for the nine months ended September 30, 2025 was $394.5 million, compared to an operating profit of $3.7 million in the prior year[188]. Segment Performance - The Filtration & Advanced Materials segment reported net sales of $198.3 million, up $8.7 million or 4.6%, while the Sustainable & Adhesive Solutions segment had net sales of $315.4 million, an increase of $6.5 million or 2.1%[162][164]. - Filtration & Advanced Materials segment net sales decreased by $8.4 million, or 1.4%, to $590.3 million, primarily due to lower volume/mix and selling prices[180]. - Sustainable & Adhesive Solutions segment net sales increased by $9.8 million, or 1.1%, to $933.6 million, driven by higher volume/mix and selling prices[181]. Cash Flow and Debt - Cash provided by operations for the three months ended September 30, 2025, was $72.8 million, compared to $37.6 million in the prior year[160]. - Cash provided by operating activities was $114.5 million, an increase from $70.7 million in the prior year period[199]. - As of September 30, 2025, total debt was $1,028.9 million, with a net leverage ratio of 4.2x against a maximum covenant ratio of 5.50x[157]. - Total debt to capital ratio increased to 72.1% as of September 30, 2025, compared to 55.9% at December 31, 2024[208]. - The Company had $420.2 million of undrawn capacity on its $600.0 million revolving line of credit facility as of September 30, 2025[157]. - Unused borrowing capacity under the Amended Credit Agreement was $420.2 million as of September 30, 2025[207]. Expenses and Impairments - The Company incurred total restructuring and other impairment expenses of $8.1 million, down from $11.2 million in the prior year[167]. - Interest expense decreased to $17.7 million, a reduction of $0.6 million or 3.3% compared to the prior year[175]. - Interest expense decreased by $0.9 million, or 1.6%, to $54.1 million during the nine months ended September 30, 2025[192]. - A non-cash impairment of goodwill amounting to $411.9 million was recorded for the FAM reporting unit due to a discount rate increase to 14%[211]. - A potential impairment of approximately $15.0 million for SAS could occur with a 100bps increase in the discount rate[212]. Tax and Dividends - The effective tax rate for the three months ended September 30, 2025, was 42.9%, compared to 13.3% in the prior year, primarily due to a one-time tax adjustment[177]. - The company announced a cash dividend of $0.10 per share payable on December 19, 2025[205]. Risks and Strategic Outlook - The company faces risks from economic conditions, market fluctuations, and trade barriers that could impact cash flow forecasts for SAS[213]. - Forward-looking statements include expectations regarding tariffs, debt obligations, and capital spending, indicating a focus on strategic growth initiatives[215]. - The company emphasizes the importance of managing risks associated with acquisitions and market competition[216]. - Market risk exposure as of September 30, 2025, remains consistent with previous disclosures[219].

Mativ Third Quarter 2025 Earnings Release Presentation November 2025 Forward Looking Statements, Non-GAAP Disclosure, & Definitions This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws that are subject to the safe harbor created by such laws and other legal protections. Caution should be taken not to place undue reliance on any such forward-looking statements because actual results may differ m ...

Core Insights - Mativ Holdings (MATV) reported quarterly earnings of $0.39 per share, exceeding the Zacks Consensus Estimate of $0.27 per share, and showing an increase from $0.21 per share a year ago, resulting in an earnings surprise of +44.44% [1] - The company achieved revenues of $513.7 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.72% and increasing from $498.5 million year-over-year [2] Earnings Performance - Over the last four quarters, Mativ Holdings has surpassed consensus EPS estimates three times, indicating a positive trend in earnings performance [2] - The company had a previous quarter earnings surprise of +83.33%, with actual earnings of $0.33 per share compared to an expected $0.18 per share [1] Stock Performance and Outlook - Mativ Holdings shares have declined approximately 5.7% since the beginning of the year, contrasting with the S&P 500's gain of 15.1% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the sustainability of the recent earnings numbers [3][4] Earnings Estimates and Industry Context - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $485 million, and for the current fiscal year, it is $0.56 on revenues of $2 billion [7] - The Zacks Industry Rank places the Chemical - Specialty sector in the bottom 35% of over 250 Zacks industries, which may impact Mativ Holdings' stock performance [8]

Core Insights - Mativ Holdings, Inc. reported strong financial results for Q3 2025, achieving significant improvements in adjusted EBITDA margin and free cash flow compared to previous periods [3][4][7]. Financial Performance - **Filtration & Advanced Materials (FAM) Segment**: - Net sales reached $198.3 million, a 4.6% increase year-over-year [4][29]. - GAAP operating profit was $11.4 million with a margin of 5.7%, down from 10.5% in the prior year [4][29]. - Adjusted EBITDA was $36.9 million, reflecting a margin of 18.6%, slightly down from 19.3% [4][29]. - **Sustainable & Adhesive Solutions (SAS) Segment**: - Net sales were $315.4 million, a 2.1% increase year-over-year [6][29]. - GAAP operating profit surged to $28.4 million with a margin of 9.0%, up from 3.3% [6][29]. - Adjusted EBITDA increased to $48.3 million, with a margin of 15.3%, up from 13.3% [6][29]. - **Overall Financial Results**: - Total consolidated net sales for Q3 2025 were $513.7 million, a 3.0% increase from $498.5 million in Q3 2024 [7][29]. - The company reported a GAAP loss of $3.2 million, with an adjusted EPS of $0.39 [7][29]. Cash Flow and Debt - Cash from operating activities for the year-to-date 2025 was $114.5 million, with free cash flow of $66.7 million, representing increases of 94% and 179% respectively compared to the prior year [7][12]. - Total debt stood at $1,028.9 million as of September 30, 2025, with cash and cash equivalents of $97.1 million, resulting in net debt of $931.8 million [12][26]. Strategic Initiatives - The company emphasized its commitment to strategic priorities and operational goals, indicating a renewed focus on customer commitments and shareholder value [3][4]. - Mativ's management highlighted the importance of disciplined pricing and cost management as key drivers of performance improvements [3][4]. Dividend and Share Repurchases - Mativ announced a quarterly cash dividend of $0.10 per share, payable on December 19, 2025 [13]. - No share repurchases were conducted during the third quarter [13]. Conference Call - A conference call to discuss Q3 2025 results is scheduled for November 6, 2025, at 8:30 a.m. Eastern time [14]. Company Overview - Mativ Holdings, Inc. is a global leader in specialty materials, focusing on innovative solutions across various applications [15]. - The company operates in two main segments: Filtration & Advanced Materials and Sustainable & Adhesive Solutions, targeting premium applications in diverse and growing categories [15].

Financial Performance - Sales for Q3 2025 were $513.7 million, an increase of 3.0% year over year and 5.2% on an organic basis[5] - Adjusted EBITDA was $66.8 million, reflecting a 10% increase compared to the prior year, with an adjusted EBITDA margin of 13%, up 80 basis points[5] - Free cash flow reached $66.7 million, representing a 179% increase year over year[5] - The Filtration & Advanced Materials segment reported net sales of $198.3 million, up 4.6% year over year[6] - The Sustainable & Adhesive Solutions segment achieved net sales of $315.4 million, a 5.6% increase on an organic basis[8] - Net sales for Q3 2025 were $513.7 million, a 3.0% increase from $498.5 million in Q3 2024[29] - Gross profit for Q3 2025 was $99.4 million, up 6.2% from $93.6 million in Q3 2024[29] - Operating profit for Q3 2025 was $16.0 million, compared to $7.0 million in Q3 2024, indicating a significant improvement[29] - Consolidated operating profit for the three months ended September 30, 2025, was $16.0 million, representing a 128.6% increase from $7.0 million in 2024[33] - Adjusted operating profit for Q3 2025 was $45.6 million, up from $38.5 million in Q3 2024, representing a 28.8% increase[39] - Adjusted EBITDA for Q3 2025 reached $66.8 million, compared to $60.8 million in Q3 2024, indicating a 9.8% growth[40] - Organic growth for the consolidated Mativ was 5.2% for the three months ended September 30, 2025, with FAM segment organic growth at 4.6% and SAS segment at 5.6%[38] Debt and Cash Flow - Total debt as of September 30, 2025, was $1,028.9 million, with net debt of $931.8 million[14] - Long-term debt decreased to $1,026.0 million as of September 30, 2025, from $1,086.7 million at the end of 2024[30] - Total current liabilities increased to $314.7 million as of September 30, 2025, from $274.5 million at the end of 2024[30] - Cash provided by operating activities year-to-date 2025 was $114.5 million, with capital spending totaling $28.7 million[13] - Cash provided by operating activities for Q3 2025 was $72.8 million, compared to $37.6 million in Q3 2024[40] - Cash and cash equivalents increased to $102.9 million at the end of Q3 2025, compared to $94.3 million at the beginning of the period[31] Loss and Earnings - GAAP loss for Q3 2025 was $3.2 million, with GAAP EPS at $(0.06)[5] - Net loss for Q3 2025 was $3.2 million, significantly improved by 84.6% compared to a net loss of $20.8 million in Q3 2024[29] - Earnings per share - diluted for Q3 2025 was $(0.06), an improvement from $(0.38) in Q3 2024[39] - Adjusted earnings per share - diluted for Q3 2025 was $0.39, up from $0.21 in Q3 2024[39] - Adjusted income for the nine months ended September 30, 2025, was $34.1 million, compared to $31.1 million in the same period of 2024[39] Expenses and Impairments - Research and development expenses for the nine months ended September 30, 2025, increased by 6.3% to $18.6 million from $17.5 million in the same period of 2024[29] - The company reported a goodwill impairment expense of $411.9 million for the nine months ended September 30, 2025[31] - The company incurred restructuring and impairment expenses of $8.1 million for the three months ended September 30, 2025, down 27.7% from $11.2 million in 2024[32] - Non-manufacturing expenses for the consolidated segments totaled $75.3 million, a slight decrease of 0.1% from $75.4 million in 2024[32] Cost of Goods Sold - The FAM segment's cost of products sold increased by 7.2% to $155.8 million, while SAS segment costs decreased slightly by 0.4% to $258.5 million[32]

Core Viewpoint - Mativ Holdings, Inc. is actively participating in the 2025 Deutsche Bank Leveraged Finance Conference, indicating its engagement with investors and the financial community [1] Company Overview - Mativ Holdings, Inc. is recognized as a global leader in specialty materials, focusing on engineering innovative solutions to address complex challenges faced by customers [1]

Core Insights - Pixelle Specialty Solutions has appointed Julie Schertell as the new CEO, succeeding Ross Bushnell who has stepped down to pursue new opportunities [1][3] Leadership Transition - Julie Schertell is recognized for her leadership in the specialty materials industry, with over 30 years of operational and commercial experience [2] - Ross Bushnell will remain with Pixelle until the end of September to assist in the leadership transition [3] Strategic Vision - Julie Schertell expressed excitement about leading Pixelle into a new chapter, focusing on investments in the Spring Grove site and enhancing customer relationships through innovation and quality [4] - The company is committed to repositioning itself, focusing its portfolio, and investing in future growth, particularly at the Spring Grove site to improve productivity and cost [4] Previous Experience of New CEO - Julie Schertell previously served as President and CEO of Mativ Holdings, where she led a successful merger and achieved significant cost reductions and growth [5] - She has a strong background in scaling businesses and developing talent, having held various leadership roles at Georgia-Pacific [6] Company Overview - Pixelle Specialty Solutions is headquartered in Spring Grove, Pennsylvania, and is a leading manufacturer of specialty papers in North America [8] - The company emphasizes innovation, quality, and research and development to deliver high-performance solutions [8]

Filing Information This section provides key administrative details about the Form 10-Q filing, company, reporting period, and outstanding shares - The document is a Form 10-Q filed by MATIV HOLDINGS, INC. for the quarterly period ended June 30, 2025[1](index=1&type=chunk)[2](index=2&type=chunk) - The Company's common stock (MATV) is registered on the New York Stock Exchange[3](index=3&type=chunk) - As of August 4, 2025, Mativ Holdings, Inc. had **54,672,519 shares of common stock outstanding**[4](index=4&type=chunk) Part I - Financial Information This part presents the unaudited condensed consolidated financial statements and notes, detailing income, balance sheets, cash flows, and key accounting policies [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Mativ Holdings, Inc. and its subsidiaries, including statements of income (loss), comprehensive loss, balance sheets, changes in stockholders' equity, and cash flows, along with detailed notes explaining accounting policies, segment information, and other financial disclosures [Condensed Consolidated Statements of Income (Loss)](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20%28Loss%29) This section presents the unaudited condensed consolidated statements of income (loss) for the three and six months ended June 30, 2025 and 2024 | Metric (in millions) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net sales | $525.4 | $523.8 | $1,010.2 | $1,024.0 | | Cost of products sold | $421.7 | $414.9 | $833.9 | $831.1 | | Gross profit | $103.7 | $108.9 | $176.3 | $192.9 | | Operating profit (loss) | $20.1 | $10.5 | $(410.5) | $(3.3) | | Net loss | $(9.5) | $(1.4) | $(435.0) | $(29.4) | | Diluted EPS | $(0.18) | $(0.03) | $(7.98) | $(0.54) | [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) This section presents the unaudited condensed consolidated statements of comprehensive loss for the three and six months ended June 30, 2025 and 2024 | Metric (in millions) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net loss | $(9.5) | $(1.4) | $(435.0) | $(29.4) | | Other comprehensive income (loss) | $1.3 | $(4.3) | $(0.6) | $(10.8) | | Comprehensive loss | $(8.2) | $(5.7) | $(435.6) | $(40.2) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section presents the unaudited condensed consolidated balance sheets as of June 30, 2025, and December 31, 2024 | Metric (in millions) | June 30, 2025 | | :------------------- | :------------ | | Cash and cash equivalents | $95.6 | | Total current assets | $701.4 | | Total assets | $2,076.7 | | Total current liabilities | $295.5 | | Total liabilities | $1,660.1 | | Total stockholders' equity | $416.6 | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) This section presents the unaudited condensed consolidated statements of changes in stockholders' equity for the six months ended June 30, 2025 and 2024 **Stockholders' Equity Balances (in millions, except shares):** | Component | June 30, 2025 | | :-------------------------------- | :------------ | | Common Stock Shares | 54,648,991 | | Common Stock Amount | $5.5 | | Additional Paid-In Capital | $680.7 | | Retained Earnings (Accumulated Deficit) | $(282.1) | | Accumulated Other Comprehensive Income | $12.5 | | Total Stockholders' Equity | $416.6 | - For the three months ended June 30, 2025, the Company reported a net loss of **$(9.5) million**, other comprehensive income of **$1.3 million**, and paid dividends of **$(5.7) million** (**$0.10 per share**)[17](index=17&type=chunk) - For the six months ended June 30, 2025, the Company reported a net loss of **$(435.0) million**, other comprehensive loss of **$(0.6) million**, and paid dividends of **$(11.4) million** (**$0.20 per share**)[20](index=20&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section presents the unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2025 and 2024 | Cash Flow Category (in millions) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------- | :----------------------------- | :----------------------------- | | Net cash provided by operations | $41.7 | $33.1 | | Net cash used in investing | $(17.6) | $(32.0) | | Net cash provided by (used in) financing | $(17.5) | $16.4 | | Increase in Cash and cash equivalents and Restricted cash | $11.7 | $13.2 | | Cash and cash equivalents and Restricted cash at end of period | $106.0 | $133.4 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=NOTES%20TO%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) [Note 1. General](index=10&type=section&id=Note%201.%20General) Mativ Holdings, Inc. is a global leader in specialty materials, operating through two reportable segments: Filtration & Advanced Materials (FAM) and Sustainable & Adhesive Solutions (SAS). The financial statements are presented on a continuing operations basis, with the Engineered Papers business sold in November 2023 as a discontinued operation - Mativ Holdings, Inc. is a global leader in specialty materials, providing innovative solutions across diversified end-markets like filtration, healthcare, and sustainable packaging[29](index=29&type=chunk) - The Company has two reportable segments: Filtration & Advanced Materials (FAM) and Sustainable & Adhesive Solutions (SAS)[31](index=31&type=chunk) - The Company adopted ASU 2023-07 (Segment Reporting) retrospectively for annual periods beginning January 1, 2024, and interim periods within those annual periods beginning January 1, 2025[37](index=37&type=chunk) - ASU 2023-09 (Income Taxes) is effective for fiscal years beginning after December 15, 2024, and ASU 2024-03 (Expense Disaggregation Disclosures) is effective for annual periods beginning after December 15, 2026; the Company is evaluating their impacts[38](index=38&type=chunk)[39](index=39&type=chunk) [Note 2. Revenue Recognition](index=11&type=section&id=Note%202.%20Revenue%20Recognition) The Company recognizes revenue when control of a product is transferred to the customer, typically upon shipment. Sales are attributed across various geographic locations and product categories, with the U.S. being the largest market. The Company also engages in accounts receivable sales programs - Revenue is recognized when control of a product is transferred to the customer, generally upon shipment from the Company's manufacturing facilities[40](index=40&type=chunk) **Net Sales by Geographic Location (in millions):** | Region | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :---------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | United States | $294.7 | $294.0 | $569.9 | $562.3 | | Europe | $139.4 | $139.6 | $265.2 | $280.7 | | Asia-Pacific | $48.8 | $52.9 | $96.3 | $105.9 | | Americas (excluding U.S.) | $26.9 | $25.7 | $50.7 | $53.2 | | Other foreign countries | $15.6 | $11.6 | $2