Mativ Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:11 pm EDT
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Mativ Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 668.3 million compared to USD 426.4 million a year ago. Net loss was USD 4.5 million compared to net income of USD 11.8 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.36 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.36 a year ago.
For the six months, sales was USD 1,347.3 million compared to USD 833.2 million a year ago. Net loss was USD 12.2 million compared to net income of USD 13.4 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to basic earnings per share from continuing operations of USD 0.41 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to diluted earnings per share from continuing operations of USD 0.41 a year ago.
Mativ Holdings, Inc. is a specialty materials company, which offers a range of critical components and engineered solutions. The Company manufactures through its family of business-to-business and consumer product brands. It targets applications across diversified end-markets, from filtration to healthcare to sustainable packaging and others. Its portfolio of technologies combines polymers, fibers, and resins to optimize the performance of its customers products across multiple stages of the value chain. The Company operates through two segments: Filtration and Advanced Materials, and Sustainable & Adhesive Solutions. Filtration and Advanced Materials segment is focused primarily on filtration and protective solutions end markets. Sustainable & Adhesive Solutions segment is focused primarily on release liner, industrials, healthcare, and packaging and specialty papers end markets.