Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 53

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 53
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 table presents gross profit for the three months ended June 30, 2025 and 2024 (in millions):

Three Months Ended Percent ChangePercent of Net SalesJune 30, 2025June 30, 2024Change20252024Net sales$525.4 $523.8 $1.6 0.3 %100.0 %100.0 %Cost of products sold421.7 414.9 6.8 1.6 %80.3 %79.2 %Gross profit$103.7 $108.9 $(5.2)(4.8)%19.7 %20.8 %

Gross profit of $103.7 million during the three months ended June 30, 2025 decreased $5.2 million, or 4.8%, compared to the prior-year quarter. The decrease in gross profit reflected higher manufacturing and distribution costs, unfavorable relative net selling price versus input cost performance, partially offset by higher volume/mix.

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Nonmanufacturing Expenses

The following table presents nonmanufacturing expenses for the three months ended June 30, 2025 and 2024 (in millions):

 Three Months Ended Percent ChangePercent of Net SalesJune 30, 2025June 30, 2024Change20252024Selling and general expense$57.2 $65.1 $(7.9)(12.1)%10.9 %12.4 %Research and development expense6.7 5.8 0.9 15.5 %1.3 %1.1 %Intangible asset amortization expense15.9 15.7 0.2 1.3 %3.0 %3.0 %Nonmanufacturing expenses$79.8 $86.6 $(6.8)(7.9)%15.2 %16.5 %

Nonmanufacturing expenses of $79.8 million during the three months ended June 30, 2025 decreased $6.8 million, or 7.9%, compared to the prior-year quarter. The decrease is primarily due to lower selling and general expense as a result of actions taken under an organizational realignment initiative ("the Plan"). 

Restructuring and Other Impairment Expense

The following table presents restructuring and other impairment expense for the three months ended June 30,