Mativ Holdings Inc reports results for the quarter ended in June - Earnings Summary

Mativ Holdings

07/08/2024 23:58

* Mativ Holdings Inc  MATV.N  reported quarterly adjusted
earnings
of 34 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of 51 cents.  The mean expectation of two analysts for the
quarter was for earnings of 23 cents per share. Wall Street
expected results to range from 21 cents to 25 cents per share.
    * Revenue fell 21.6% to $523.80 million from a year ago;
analysts
expected $525.75 million. 
    * Mativ Holdings Inc's reported EPS for the quarter was a
loss
of 3 cents​.
    * The company reported a quarterly loss of $1.5 million.
    * Mativ Holdings Inc shares had fallen by 14.0% this
quarter and
lost 4.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 25.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the commodity
chemicals
peer group is also "buy"

Wall Street's median 12-month price target for Mativ Holdings
Inc is $24.50 
This summary was machine generated from LSEG data August 7 at
10:57 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       0.23           0.34           Beat
 Mar. 31 2024      0.20           0.02           Missed
 Dec. 31 2023      0.14           0.23           Beat
 Sep. 30 2023      0.09           0.21           Beat