Company: MATV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001000623-25-000064
Chunk: 40

Company: Mativ Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 40
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 the prior year period.

In the FAM segment, operating income was $11.4 million during the three months ended September 30, 2025 decreased $8.5 million, or 42.7%, compared to the prior year period, primarily due to higher restructuring and other impairment expenses and manufacturing costs, partially offset by higher volume/mix. 

In the SAS segment, operating income of $28.4 million during the three months ended September 30, 2025 increased $18.1 million, compared to the prior year period, driven by lower restructuring and other impairment expenses, favorable net selling price versus input cost performance, lower manufacturing costs and lower selling and general expenses, partially offset by unfavorable mix and higher distribution costs. 

Unallocated expenses of $23.8 million during the three months ended September 30, 2025 increased $0.6 million, or 2.6%, compared to the prior year period. 

Interest Expense

Interest expense of $17.7 million during the three months ended September 30, 2025 decreased $0.6 million, or 3.3%, compared to the prior year period. 

Other Expense, Net

Other expense was $3.9 million during the three months ended September 30, 2025, compared to the prior year period expense of $12.7 million. The current period includes non-cash settlement charges associated with our U.S. Pension Plan.

Income Taxes

A $2.4 million income tax benefit in the three months ended September 30, 2025 resulted in an effective tax rate of 42.9% compared with 13.3% in the prior year period. The net change was primarily due to the impact from a one-time tax adjustment and mix of earnings in the current period.

Net Loss and Net Loss per Share

Net loss during the three months ended September 30, 2025 was $3.2 million, or $0.06 per diluted share, compared with net loss of $20.8 million, or $0.38 per diluted share, during the prior-year quarter.  

35

RESULTS OF OPERATIONS

Comparison of the Nine Months Ended September 30, 2025 and 2024

Net Sales

The following table presents net sales by segment (in millions):

Nine Months EndedSeptember 30,20252024ChangePercent ChangeFiltration & Advanced Materials$590.3 $598.7 $(8.4)(1.4)%