Mativ(US:MATV)2025-11-05 21:16Financial 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]