NYSE$MATV

Mativ Holdings Inc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Announced Q4 2023 earnings, reflecting lower sales and a GAAP loss, but also highlighting progress in debt reduction and synergy achievement.

Mativ reported Q4 2023 results with sales of $452.3 million, a GAAP loss of $13.6 million, and adjusted EPS of $0.23. The company faced headwinds from customer de-stocking and persistent inflation, but made progress in debt reduction and synergy realization. They divested Engineered Papers, reduced debt by over 35%, consolidated sites, and achieved targeted Merger synergies ahead of plan.

  • Sales were $452.3 million, down 13.7% year over year.
  • GAAP loss was $13.6 million, with a GAAP EPS of $(0.25).
  • Adjusted EBITDA was $50.0 million, down 20% versus the prior year.
  • The company reduced net debt by $605 million year over year.

Headline financials

Total Revenue

$452M

Previous: $660M-31.5%
EPS (adj)

$0.23

Previous: $0.56-58.9%
Capital Expenditures

-$17M

Previous: $20.4M-183.3%
Free Cash Flow

$22.3M

Previous: $143M-84.4%
Net Income

-$13.6M

Previous: $2.5M-644.0%
Operating Income

-$2.2M

Previous: $26.9M-108.2%
Gross Profit

$85.9M

Previous: $122M-29.8%
R&D Expense

$4.6M

No prior period
Stock-Based Comp

$1.2M

Previous: $3.9M-69.2%

Revenue & EPS history

Mativ · Revenue · Quarterly

$452M

Q4 2023-31.5%vs Q4 2022
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Mativ · $525M total across 2 segments · Q2 2025

  • Sustainable & Adhesive Solutions
    $321M—
  • Filtration & Advanced Materials
    $204M—

Forward guidance

Mativ is focused on executing its strategy in 2024 to achieve growth in sales and EBITDA, generate strong free cash flow, and further reduce debt and leverage.

Tailwinds

  • Seeing some momentum in our markets.
  • Opportunities that lie ahead.
  • Focused on growth in sales and EBITDA.
  • Focused on generating strong free cash flow.
  • Focused on further reducing our debt and leverage.

Headwinds

  • Macro-environment was even more challenging with profound and prolonged customer de-stocking effects and persistent inflation.
  • Combination and magnitude of these factors significantly impacted our end markets and volumes.
  • Challenged us to aggressively adapt our operations.
  • Challenged us to reduce costs.
  • Challenged us to innovate, and reposition the Company for a strong future.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2023

Historical avgQ4 2023

+1.4%

Avg return

Earnings day

+1.4%

Avg return

5 days after

-1.7%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+39.0%

Q4 2023

Best reaction

-17.8%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026+1.5%-7.8%-20.3%
Q4 2025-8.0%-25.0%-43.2%
Q3 2025+22.3%+24.8%+14.7%
Q1 2025+8.8%+26.8%+22.7%
Q4 2024-17.8%-23.3%-33.0%
Q3 2024-14.8%-16.3%-24.7%
Q2 2024+26.6%+21.1%+23.4%
Q1 2024+1.9%-6.1%-7.3%
Q4 2023+39.0%+35.0%+44.6%
Q3 2023+2.9%-3.2%-7.0%
Q2 2023-0.4%-0.9%-13.5%
Q1 2023+3.7%+3.0%+2.6%
Q1 2022+3.7%+3.0%+2.6%
Q4 2022+11.3%+3.6%-19.6%
Q3 2022-12.7%-19.5%-15.5%
Q2 2022+15.1%+19.4%+24.9%
Q4 2021-3.2%+3.4%+0.1%
Q3 2021-12.8%-7.2%-21.5%
Q2 2021-1.6%-3.1%-4.6%
Q1 2021-1.2%+0.0%-7.1%
Q4 2020+1.2%+1.1%+4.9%
Q3 2020-2.4%+0.4%-2.9%
Q2 2020+2.9%+7.3%-5.3%
Q1 2020+1.5%-3.0%+20.0%
Q4 2019+1.8%+0.4%-19.2%
Q3 2019+9.1%+10.3%+9.9%
Q2 2019+4.9%+1.5%+4.0%
Q1 2019+1.3%-1.5%-8.1%
Q4 2018-0.7%-1.6%+0.4%
Q3 2018-0.7%-3.8%-15.4%
Q2 2018+6.4%+1.3%-1.9%
Q1 2018-1.9%+0.5%-0.3%
Q4 2017-0.4%+0.3%-0.2%
Q3 2017+8.1%+4.1%+6.9%
Q2 2017+3.8%-0.5%-2.1%
Q1 2017-2.8%-2.9%+3.0%
Q4 2016-0.0%+2.3%-1.4%
Q3 2016+5.2%+7.2%+16.0%
Q2 2016+4.6%+3.2%+7.3%
Q1 2016+0.7%——
Q4 2015-1.2%——
Q3 2015+1.5%——
Q2 2015-4.9%——
Q4 2014-3.5%——
Q1 2015-0.2%——
Q3 2014+1.7%——
Q2 2014+2.0%——
Q1 2014+1.9%——
Q4 2013-1.2%——
Q3 2013-16.4%——
Q2 2013+0.7%——
Q1 2013-0.3%——
Q4 2012+0.2%——
Q3 2012+1.9%——
Q2 2012-8.0%——
Q1 2012+0.8%——
Q4 2009-0.4%——
Q4 2011-0.4%——
Q3 2010+2.2%——
Q3 2011+2.2%——
Q2 2011+2.6%——
Q4 2010+2.6%——
Q2 2010-0.8%——
Q1 2011-0.8%——
Q1 2010-0.8%——

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