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Dec 31, 2023
Mativ Q4 2023 Earnings Report
Announced Q4 2023 earnings, reflecting lower sales and a GAAP loss, but also highlighting progress in debt reduction and synergy achievement.
Key Takeaways
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.
Revenue by Segment
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.
Positive Outlook
- 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.
Challenges Ahead
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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