Published on 12 May 2024 on GuruFocus.com via Yahoo Finance
Mativ Holdings Inc (MATV) Q1 2024 Earnings: Adjusted EPS Meets Estimates Amidst Revenue Decline
Revenue: Reported at $500.2 million, marking an 8.9% decrease compared to the previous year, falling short of estimates of $527.50 million.Net Loss: Recorded a net loss of $28.0 million from continuing operations, significantly wider than the prior year's loss of $15.5 million.Adjusted EPS: Achieved $0.02, substantially below the estimated earnings per share of $0.31.Adjusted EBITDA: Totaled $45.8 million, a decrease of 6% year-over-year, impacted by lower volumes and higher production costs.GAAP EPS: Reported a loss of $0.52 per share, reflecting costs related to organizational realignment and integration expenses.Dividend: Announced a quarterly cash dividend of $0.10 per share, payable on June 21, 2024.Debt Position: Ended the quarter with total debt of $1,158.0 million and cash reserves of $128.9 million, resulting in net debt of $1,029.1 million.
Warning! GuruFocus has detected 11 Warning Signs with MATV.