Company: MATV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001000623-25-000024
Chunk: 32

Company: Mativ Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 32
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Nonmanufacturing expenses of $85.0 million during the three months ended March 31, 2025 increased $1.6 million, or 1.9%, compared to the prior year period primarily driven by costs incurred under the Plan, which included $5.9 million related to our previously disclosed CEO transition.

Restructuring and Other Impairment Expense

The following table presents restructuring and other impairment expense by segment (in millions):

 Three Months EndedMarch 31,Percent of Net Sales20252024Change20252024Filtration & Advanced Materials$6.0 $3.2 $2.8 3.2 %1.6 %Sustainable & Adhesive Solutions0.3 8.2 (7.9)0.1 %2.8 %Unallocated expenses— 3.0 (3.0)Total$6.3 $14.4 $(8.1)1.3 %2.9 %

The Company incurred total restructuring and other impairment expense of $6.3 million in the three months ended March 31, 2025 compared with $14.4 million in the prior year period. 

Restructuring and other impairment expenses in both the FAM and SAS segments were primarily due to facility closures announced in prior years.

30

Operating Profit (Loss)

The following table presents operating profit (loss) by segment (in millions):

 Three Months EndedMarch 31,Percent ChangeReturn on Net Sales20252024Change20252024Filtration & Advanced Materials$(410.0)$14.6 $(424.6)N.M.(218.6)%7.2 %Sustainable & Adhesive Solutions13.0 4.2 8.8 N.M.4.4 %1.4 %Unallocated expenses(33.6)(32.6)(1.0)3.1 %  Total$(430.6)$(13.8)$(416.8)N.M.(88.8)%(2.8)%

Operating loss was $430.6 million during the three months ended March 31, 2025 compared to operating loss of $13.8 million in the prior year period. 

In the FAM segment, operating loss was $410.0 million during the three months ended March 31, 2025 reflecting a $424.6 million decrease, compared to operating profit of $14