Mativ reports Q1 adjusted EPS (14c) vs 2c last year

Reports Q1 revenue $484.8M vs $500.2M last year. President and Chief Executive Officer Shruti Singhal commented, “Since stepping in to lead Mativ (MATV) eight weeks ago, I have seen firsthand the role we serve as trusted partner to our customers, enabling them to solve their most complex challenges. However, this past year has been incredibly challenging for our shareholders and employees. We are simply not where we need to be operationally to navigate the current demand environment or future challenges. We are pivoting to a much higher sense of urgency across our company to act swiftly, comprehensively and decisively to undertake the necessary changes to grow market share, return to sustainable and profitable growth, and most importantly restore value to our shareholders.”