Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 39

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 39
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5, compared to the prior year period expense of $1.1 million, primarily driven by gains on asset disposals and foreign currency. 

Income Taxes

A $12.5 million income tax expense in the three months ended June 30, 2025 resulted in an effective tax rate of 416.7% compared with 84.4% in the prior year period. The net change was primarily due to mix of earnings and impact from valuation allowance changes in the current period, and a one-time tax adjustment in the prior period.

Net Loss and Net Loss per Share

Net loss during the three months ended June 30, 2025 was $9.5 million, or $0.18 per diluted share, compared with net loss of $1.4 million, or $0.03 per diluted share, during the prior-year quarter.  

33

RESULTS OF OPERATIONS

Comparison of the Six Months Ended June 30, 2025 and 2024

Net Sales

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

Six Months EndedJune 30,20252024ChangePercent ChangeFiltration & Advanced Materials$392.0 $409.1 $(17.1)(4.2)%Sustainable & Adhesive Solutions618.2 614.9 3.3 0.5 %Total$1,010.2 $1,024.0 $(13.8)(1.3)%

Consolidated net sales of $1,010.2 million during the six months ended June 30, 2025 decreased $13.8 million, or 1.3%, compared to the prior year period. 

FAM segment net sales of $392.0 million during the six months ended June 30, 2025 decreased $17.1 million, or  4.2%, compared to the prior year period primarily due to lower volume/mix (an approximately 3% decrease), and lower selling prices (an approximately 2% decrease). 

SAS segment net sales of $618.2 million during the six months ended June 30, 2025 increased $3.3 million, or 0.5%, compared to the prior year period, reflecting higher volume/mix (an approximately 4% increase), higher selling prices (an approximately 1% increase), partially offset by sales associated with closed facilities in the prior year (an approximately 5% decrease).

Gross Profit

The following