Mativ Holdings, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 10, 2023 at 04:12 pm EDT
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Mativ Holdings, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 679 million compared to USD 406.8 million a year ago. Net loss was USD 7.7 million compared to net income of USD 1.6 million a year ago.
Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.05 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.