Mativ reports Q3 adjusted EPS 21c, two estimates 27c

Reports Q3 revenue $498.5M, two estimates $524.4M. Chief Executive Officer Julie Schertell commented, “We saw meaningful increases in volume and profitability in Filtration and our overall SAS segment during the third quarter, with SAS segment adjusted EBITDA increasing almost 20% year over year. This was somewhat offset by results in Advanced Films, which were impacted by automotive and construction end markets. As such, we have launched a turnaround effort specific to Advanced Films focused on demand generation, operational performance and increased customer and end market diversification. This turnaround effort will be similar to the approach we used for Healthcare throughout 2023, which year-to-date, resulted in above-market sales growth of more than 5% and materially improved profitability versus the same period in 2023.”