Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 55

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 55
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AM segment, operating income was $22.6 million during the three months ended June 30, 2025 decreased $2.6 million, or 10.3%, compared to the prior year period, primarily due to higher manufacturing and distribution costs, unfavorable relative net selling price versus input cost performance, partially offset by favorable cost mix and lower selling and general expenses. 

In the SAS segment, operating income of $24.8 million during the three months ended June 30, 2025 increased $9.2 million, or 59.0%, compared to the prior year period, driven by lower restructuring and other impairment expenses, lower selling and general expenses, partially offset by higher manufacturing and distribution costs. 

Unallocated expenses of $27.3 million during the three months ended June 30, 2025 decreased $3.0 million, or 9.9%, compared to the prior year period primarily related to a decrease in selling and general expenses as a result of actions taken under the Plan. 

Interest Expense

Interest expense of $18.6 million during the three months ended June 30, 2025 increased $0.2 million, or 1.1%, compared to the prior year period. 

Other Income (Expense), Net

Other income was $1.5 million during the three months ended June 30, 2025, 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.  

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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