Mativ Holdings, Inc. reported its third quarter 2024 financial results, with consolidated net sales of $498.5 million, which was flat compared to the prior year period. The company reported a net loss of $20.8 million for the quarter.
The Sustainable & Adhesive Solutions (SAS) segment demonstrated strength, with sales of $308.9 million, up 2.1% year-over-year, and 4.4% on an organic basis. SAS adjusted EBITDA increased by almost 20% to $41.0 million, driven by favorable manufacturing and distribution costs, and higher volumes.
Conversely, the Filtration & Advanced Materials (FAM) segment experienced a decline, with sales of $189.6 million, down 3.2% year-over-year, and adjusted EBITDA decreasing 7% to $36.5 million. This was primarily due to lower volumes in advanced films and lower selling prices, despite higher volumes in filtration and netting.
Mativ's year-to-date 2024 cash provided by operating activities was $70.7 million, with total debt at $1,143.4 million and net debt at $981.2 million as of September 30, 2024. The company announced a quarterly cash dividend of $0.10 per share, payable on December 20, 2024.
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