Company: MATV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001000623-25-000064
Chunk: 60

Company: Mativ Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 60
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 EndedSeptember 30,Percent ChangeReturn on Net Sales20252024Change20252024Filtration & Advanced Materials$(376.0)$59.7 $(435.7)N.M.(63.7)%10.0 %Sustainable & Adhesive Solutions66.2 30.1 36.1 N.M.7.1 %3.3 %Unallocated expenses(84.7)(86.1)1.4 (1.6)%  Total$(394.5)$3.7 $(398.2)N.M.(25.9)%0.2 %

Operating loss was $394.5 million during the nine months ended September 30, 2025 compared to operating profit of $3.7 million in the prior year period. 

In the FAM segment, operating loss was $376.0 million during the nine months ended September 30, 2025 reflecting a $435.7 million decrease, compared to operating profit of $59.7 million in the prior year period primarily due to the $411.9 million goodwill impairment during the first quarter of 2025, see Note 6. Goodwill. Excluding the goodwill impairment, operating profit was $35.9 million, a $23.8 million decrease from the prior year due to higher restructuring and other impairment expenses, higher manufacturing and distribution costs, unfavorable net selling price versus input cost performance, partially offset by higher volume/mix and lower selling and general expenses. 

In the SAS segment, operating profit was $66.2 million during the nine months ended September 30, 2025 reflecting a $36.1 million increase, compared to the prior year period, driven by lower restructuring and other impairment expenses, favorable net selling price versus input cost performance, lower selling and general expenses and lower manufacturing costs, partially offset by higher distribution costs. 

Unallocated expenses of $84.7 million during the nine months ended September 30, 2025 decreased $1.4 million compared to the prior year, primarily related to a decrease in selling and general expenses as a result of actions taken under the Plan.

Interest Expense 

Interest expense of $54.1 million during the nine months ended September 30, 2025 decreased $0.9 million, or 1.6%, compared to the prior year period. 

Other Expense, Net 

Other expense was $4.2 million during the nine months ended September 30, 2025,