MATV - Mativ Holdings Non-GAAP EPS of $0.25 misses by $0.01 revenue of $679M beats by $39.35M
2023-05-10 16:58:40 ET
- Mativ Holdings press release ( NYSE: MATV ): Q1 Non-GAAP EPS of $0.25 misses by $0.01 .
- Revenue of $679M (+66.9% Y/Y) beats by $39.35M .
- Adjusted Income was $13.7 million, Adjusted EPS was $0.25, and Adjusted EBITDA was $65.7 million (see non-GAAP reconciliations); engineered papers Adjusted EBITDA decreased approximately $15 million, accounting for roughly two-thirds of total year-over-year EBITDA decline, mainly due to labor strikes in France and manufacturing inefficiencies
- Price increases more than offset the impacts of higher input costs; however, lower volumes primarily from customer de-stocking and manufacturing challenges drove margin pressure
- $25 million incremental synergy realization still expected in 2023, with procurement and supply chain activities building upon 2022 SG&A actions; easing input costs also expected to support sequential margin improvements.
- Shares +2.07% .
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Mativ Holdings Non-GAAP EPS of $0.25 misses by $0.01, revenue of $679M beats by $39.35M