Mativ Holdings Files Q3 2024 10-Q
Ticker: MATV · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 1000623
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Mativ Holdings filed their 10-Q for Q3 2024. Financials are in.
AI Summary
Mativ Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers financial performance and operational details for the third quarter and the year-to-date period. Specific financial figures and business segment information are detailed within the report.
Why It Matters
This filing provides investors with the latest financial health and operational performance of Mativ Holdings, Inc., crucial for making informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal significant financial performance or strategic shifts that may impact risk.
Key Players & Entities
- Mativ Holdings, Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241112 (date) — Filing date of the report
- SCHWEITZER MAUDUIT INTERNATIONAL INC (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 12, 2024.
What was Mativ Holdings, Inc.'s former name?
Mativ Holdings, Inc.'s former name was SCHWEITZER MAUDUIT INTERNATIONAL INC.
What is the fiscal year end for Mativ Holdings, Inc.?
The fiscal year end for Mativ Holdings, Inc. is December 31.
What is the Standard Industrial Classification code for Mativ Holdings, Inc.?
The Standard Industrial Classification code for Mativ Holdings, Inc. is 2621 (PAPER MILLS).
Filing Stats: 4,722 words · 19 min read · ~16 pages · Grade level 7.6 · Accepted 2024-11-12 16:20:19
Key Financial Figures
- $0.10 — ange on which registered Common stock, $0.10 par value MATV New York Stock Exchange
Filing Documents
- matv-20240930.htm (10-Q) — 1573KB
- ex3112024q3.htm (EX-31.1) — 11KB
- ex3122024q3.htm (EX-31.2) — 11KB
- ex322024q3.htm (EX-32) — 9KB
- 0001000623-24-000047.txt ( ) — 8458KB
- matv-20240930.xsd (EX-101.SCH) — 42KB
- matv-20240930_cal.xml (EX-101.CAL) — 100KB
- matv-20240930_def.xml (EX-101.DEF) — 239KB
- matv-20240930_lab.xml (EX-101.LAB) — 648KB
- matv-20240930_pre.xml (EX-101.PRE) — 466KB
- matv-20240930_htm.xml (XML) — 1471KB
- Financial Information
Part I. - Financial Information
Financial Statements
Item 1. Financial Statements 2
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 29
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 40
Controls and Procedures
Item 4. Controls and Procedures 40
- Other Information
Part II. - Other Information
Legal Proceedings
Item 1. Legal Proceedings 42
Risk Factors
Item 1A. Risk Factors 42
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 43
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 43
Other Information
Item 5. Other Information 43
Exhibits
Item 6. Exhibits 44
- 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 498.5 $ 498.2 $ 1,522.5 $ 1,573.7 Cost of products sold 404.9 411.5 1,236.0 1,303.8 Gross profit 93.6 86.7 286.5 269.9 Selling expense 18.1 20.5 54.6 60.6 Research and development expense 5.7 5.4 17.5 16.6 General expense 51.6 63.4 173.3 185.8 Total nonmanufacturing expenses 75.4 89.3 245.4 263.0 Goodwill impairment expense — 401.0 — 401.0 Restructuring and other impairment expense 11.2 16.3 37.4 17.6 Operating profit (loss) 7.0 ( 419.9 ) 3.7 ( 411.7 ) Interest expense 18.3 16.8 55.0 48.8 Other expense, net ( 12.7 ) ( 0.3 ) ( 12.1 ) ( 3.6 ) Loss from continuing operations before income taxes ( 24.0 ) ( 437.0 ) ( 63.4 ) ( 464.1 ) Income tax expense (benefit), net ( 3.2 ) 27.3 ( 13.2 ) 30.0 Net loss from continuing operations ( 20.8 ) ( 464.3 ) ( 50.2 ) ( 494.1 ) Net income from discontinued operations — 9.3 — 26.9 Net loss ( 20.8 ) ( 455.0 ) ( 50.2 ) ( 467.2 ) Dividends to participating securities ( 0.1 ) ( 0.5 ) ( 0.2 ) ( 0.7 ) Net loss attributable to Common Stockholders $ ( 20.9 ) $ ( 455.5 ) $ ( 50.4 ) $ ( 467.9 ) Net loss per share - basic: Loss per share from continuing operations $ ( 0.38 ) $ ( 8.50 ) $ ( 0.93 ) $ ( 9.06 ) Income per share from discontinued operations — 0.17 — 0.49 Basic $ ( 0.38 ) $ ( 8.33 ) $ ( 0.93 ) $ ( 8.57 ) Net loss per share – diluted: Loss per share from continuing operations $ ( 0.38 ) $ ( 8.50 ) $ ( 0.93 ) $ ( 9.06 ) Income per share from discontinued operations — 0.17 — 0.49 Diluted $ ( 0.38 ) $ ( 8.33 ) $ ( 0.93 ) $ ( 8.57 ) Weighted average shares outstanding: Basic 54,327,500 54,659,100 54,305,800 54,600,100 Diluted 54,327,500 54,659,100 54,305,800 54,600,100 The accompanying notes are an integral part of the