Mativ delivered its strongest financial quarter since becoming Mativ four years ago.
Aug. 6, 2026 - Mativ Holdings, Inc. (NYSE: MATV) reported financial results for the three-months ended June 30, 2026.
"We delivered our strongest financial quarter since becoming Mativ four years ago, combining modest organic sales growth with strong cost discipline to drive record adjusted EBITDA and margins," said Shruti Singhal, Mativ President and CEO. "Our disciplined execution generated exceptional free cash flow allowing us to materially improve our leverage.
"This strong performance is yet another proof point that our business continues to transform, further compounding on our record prior year results. We have implemented changes to our new business development process, operating cadence, and cost structure which are advancing our momentum as we navigate through 2026.
"We continue to identify and execute on new initiatives that will further accelerate progress toward our long-term objectives for sustainable, profitable growth, increased shareholder value, and an attractive leverage profile."
Filtration & Advanced Materials (FAM) segment sales, comprised primarily of filtration media and components, advanced films, coating and converting solutions, and extruded mesh products, were $201.7 million, down 0.1% on an organic basis, and 1.3% on a reported basis versus the prior year period, reflecting lower volume/mix in our Filtration & Netting business, including the impact from an exited facility, partially offset by higher selling prices and favorable currency.
Adjusted EBITDA (see non-GAAP reconciliations) and margin increased 1.4% and 50 basis points, respectively, versus prior year as proactive pricing actions and lower SG&A expenses offset higher manufacturing costs and lower volume/mix.
Sustainable & Adhesive Solutions (SAS) segment sales, comprised primarily of tapes, labels, liners, specialty paper, packaging and healthcare solutions, of $330.1 million were up 2.8% versus the prior year period. Higher selling prices and favorable currency were partially offset by lower volume/mix as strong growth in our Tapes, Labels & Liners business was offset by lower volume/mix across other categories.
Adjusted EBITDA (see non-GAAP reconciliations) and margin increased 18.8% and 210 basis points, respectively, compared to the prior year period, as proactive pricing actions offset general cost increases including higher manufacturing and distribution costs and SG&A expenses.
Year-to-date 2026 cash provided by operating activities was $68.9 million. Capital spending totaled $15.9 million. Working capital was a $2.6 million use of cash due to the impact of an increase in accounts receivable and inventories offset by an increase in accounts payable and accrued income taxes. This disciplined investment in working capital aligns with our strategic growth initiatives and positions us to serve customers in high-growth, high-return end markets.
Total debt was $974.5 million as of June 30, 2026 and Cash and cash equivalents was $66.3 million resulting in net debt of $908.2 million. Total liquidity was approximately $345.5 million, consisting of $66.3 million of Cash and cash equivalents and $279.2 million of revolver availability. The Company's debt is expected to mature on a staggered basis through 2033.
Mativ Holdings, Inc. is a global leader in specialty materials. Headquartered in Alpharetta, Georgia, Mativ manufactures on three continents and generate sales in over 100 countries through our family of business-to-business and consumer product brands. The company's two operating segments are: Filtration & Advanced Materials and Sustainable & Adhesive Solutions.
SOURCE: Mativ Holdings, Inc.