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Dec 31, 2021
Mativ Q4 2021 Earnings Report
SWM's Q4 2021 earnings reflected organic sales growth in AMS and EP, offset by peak raw material costs and supply chain challenges, resulting in a decrease in adjusted EPS compared to the prior year.
Key Takeaways
SWM International reported a 40% increase in total sales to $390.4 million, with a 3% organic increase. GAAP EPS was $1.68, which included a gain on asset sale and favorable tax items. Adjusted EPS was $0.36, down from $0.77. The company issued 2022 Adjusted EPS guidance of $3.50 to $3.95, driven by 20% to 30% adjusted EBITDA growth.
Total sales increased by 40% to $390.4 million, up 3% organically.
GAAP EPS was $1.68, including gains from asset sales and favorable tax items.
Adjusted EPS decreased to $0.36 from $0.77.
The company issued 2022 Adjusted EPS guidance of $3.50 to $3.95, driven by 20% to 30% adjusted EBITDA growth.
Forward Guidance
The Company issued 2022 Adjusted EPS guidance of $3.50 to $3.95, driven by 20% to 30% adjusted EBITDA growth.
Positive Outlook
- Continued consolidated top-line growth
- Improved cost/price dynamics
- Gradual easing of supply chain constraints
- 20% to 30% adjusted EBITDA growth
- Free cash flow to return towards historical levels, likely in the $100 million range
Challenges Ahead
- Likelihood of a higher tax rate in 2022
- Non-cash purchase accounting expenses of $1.18 per share
- Sharp input cost increases
- Supply chain challenges
- Moderation on some key input costs
Historical Earnings Impact
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Avg. Return Before/After Earnings
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