Mativ Holdings, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Mativ Holdings, Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial information and company structure.</b>

AI Summary

Mativ Holdings, Inc. (MATV) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Mativ Holdings, Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's former name was Schweitzer Mauduit International Inc, with a name change date of September 14, 1995. Mativ Holdings, Inc. is incorporated in Delaware and has its principal business address in Alpharetta, Georgia. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking Mativ Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Mativ Holdings, Inc. for the first quarter of 2024. Understanding the financial health and segment performance detailed in this report is crucial for assessing the company's current standing and future prospects.

Risk Assessment

Risk Level: low — Mativ Holdings, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or material adverse events beyond typical business operations.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand Mativ Holdings' Q1 2024 results and compare them to previous periods.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 2023-03-31 — Prior Period End Date (Comparison period)

Key Players & Entities

• Mativ Holdings, Inc. (company) — Filer and company name
• 0001000623-24-000020 (filing_id) — Accession number for the filing
• 20240331 (date) — Conformed period of report
• 20240509 (date) — Filed as of date
• Schweitzer Mauduit International Inc (company) — Former company name
• 19950914 (date) — Date of name change
• Alpharetta, Georgia (location) — Business address city and state
• 100 NORTH POINT CENTER EAST SUITE 600 (address) — Business address street and suite

FAQ

Industry Context

Mativ Holdings, Inc. operates in the paper mills industry, as indicated by its SIC code 2621.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for the quarter ended March 31, 2024, comparing revenue, net income, and other key metrics to the prior year's quarter.
2. Examine segment-specific data (if available in the full filing) to understand performance drivers across different business units.
3. Review any disclosures regarding changes in accounting policies, legal proceedings, or risk factors that may have occurred during the quarter.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the most recent quarterly financial update for Mativ Holdings, Inc., following previous filings such as the 2023 10-K and prior 10-Q reports.

Key Financial Figures

• $0.10 — ange on which registered Common stock, $0.10 par value MATV New York Stock Exchange

Filing Documents

• matv-20240331.htm (10-Q) — 1155KB
• ex102psuagreement.htm (EX-10.2) — 135KB
• ex103rsuagreement.htm (EX-10.3) — 140KB
• ex31103312024.htm (EX-31.1) — 11KB
• ex31203312024.htm (EX-31.2) — 11KB
• ex3203312024.htm (EX-32) — 9KB
• 0001000623-24-000020.txt (&nbsp;) — 7500KB
• matv-20240331.xsd (EX-101.SCH) — 41KB
• matv-20240331_cal.xml (EX-101.CAL) — 97KB
• matv-20240331_def.xml (EX-101.DEF) — 227KB
• matv-20240331_lab.xml (EX-101.LAB) — 618KB
• matv-20240331_pre.xml (EX-101.PRE) — 445KB
• matv-20240331_htm.xml (XML) — 1103KB

- Financial Information

Part I. - Financial Information

Financial Statements

Item 1. Financial Statements 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

- Other Information

Part II. - Other Information

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 37

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MATIV HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (in millions, except per share amounts) (Unaudited) Three Months Ended March 31, 2024 2023 Net sales $ 500.2 $ 549.0 Cost of products sold 416.2 461.3 Gross profit 84.0 87.7 Selling expense 18.5 20.4 Research and development expense 6.0 6.7 General expense 58.9 62.0 Total nonmanufacturing expenses 83.4 89.1 Restructuring and impairment expense 14.4 0.8 Operating loss ( 13.8 ) ( 2.2 ) Interest expense 18.3 15.6 Other income (expense), net 1.7 ( 0.7 ) Loss from continuing operations before income taxes ( 30.4 ) ( 18.5 ) Income tax benefit, net ( 2.4 ) ( 3.0 ) Net loss from continuing operations ( 28.0 ) ( 15.5 ) Net income from discontinued operations — 7.8 Net loss ( 28.0 ) ( 7.7 ) Dividends to participating securities — ( 0.1 ) Net loss attributable to Common Stockholders $ ( 28.0 ) $ ( 7.8 ) Net loss per share - basic: Loss per share from continuing operations $ ( 0.52 ) $ ( 0.28 ) Income per share from discontinued operations — 0.14 Basic $ ( 0.52 ) $ ( 0.14 ) Net loss per share – diluted: Loss per share from continuing operations $ ( 0.52 ) $ ( 0.28 ) Income per share from discontinued operations — 0.14 Diluted $ ( 0.52 ) $ ( 0.14 ) Weighted average shares outstanding: Basic 54,267,900 54,483,000 Diluted 54,267,900 54,483,000 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 MATIV HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions) (Unaudited) Three Months Ended March 31, 2024 2023 Net loss $ ( 28.0 ) $ ( 7.7 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments ( 9.2 ) 18.4 Cash flow hedges 2.3 ( 11.4 ) Postretirement benefit plans 0.4 0.5 Other comprehensive income (loss) ( 6.5 ) 7.5 Comprehensive loss $ ( 34.5 ) $

View Full Filing

View this 10-Q filing on SEC EDGAR