Mativ Q3 sales fall, missing estimates, after tornado disruption
MATV•Mativ’s Q3 sales fell 2.8% year over year to $499.5 million, below the $510 million estimate, after a July tornado disrupted operations. Adjusted EPS rose to $0.31, while adjusted EBITDA declined 7% to $62.3 million; the company expects full-year performance to exceed the prior year.
1. Quarterly results
Mativ reported Q3 sales of $499.5 million, down 2.8% year over year and below the $510 million estimate. Adjusted EPS rose to $0.31, above the $0.25 estimate, while adjusted EBITDA declined 7% to $62.3 million.
2. Tornado and outlook
The July tornado reduced sales and volumes in the Sustainable & Adhesive Solutions segment, particularly Paper & Packaging, and disrupted operations. Mativ expects full-year financial performance to be ahead of the prior year and says inventory losses from the tornado are expected to be fully recoverable.
