Mativ Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 21, 2024 at 04:40 pm
Share
Mativ Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 452.3 million compared to USD 524.4 million a year ago. Net income was USD 157.7 million compared to USD 2.5 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.25 compared to USD 0.05 a year ago. Basic earnings per share was USD 2.91 compared to USD 0.04 a year ago. Diluted earnings per share was USD 2.89 compared to USD 0.04 a year ago.
For the full year, sales was USD 2,026 million compared to USD 1,636.9 million a year ago. Net loss was USD 309.5 million compared to USD 6.6 million a year ago. Basic loss per share from continuing operations was USD 9.33 compared to USD 1.64 a year ago. Diluted loss per share from continuing operations was USD 9.33 compared to USD 1.64 a year ago. Basic loss per share was USD 5.69 compared to USD 0.18 a year ago. Diluted loss per share was USD 5.69 compared to USD 0.18 a year ago.
Mativ Holdings, Inc. is a specialty materials company. The Company manufactures globally through its family of business-to-business and consumer product brands. Its portfolio of technologies combines polymers, fibers, and resins to optimize the performance of its customers products across multiple stages of the value chain. Its segments include Filtration & Advanced Materials (FAM) and Sustainable & Adhesive Solutions (SAS). The FAM is focused primarily on filtration media and components, advanced films, coating and converting solutions, and extruded mesh products. The FAM segment supplies customers directly, serving a diverse set of generally high-growth end markets. The SAS is focused primarily on tapes, labels, liners, specialty paper, packaging and healthcare solutions. The SAS segment supplies customers through distribution and directly, serving growing and mature end markets including building and construction, DIY, product packaging, consumer and commercial paper.