Mativ Holdings Q1 Adj $0.02 Misses $0.20 Estimate, Sales $500.20M Beat $492.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Mativ Holdings (NYSE:MATV) reported Q1 earnings of $0.02 per share, missing the consensus estimate of $0.20 by 90%. Sales were $500.20M, beating estimates of $492.00M but marking a 26.33% decrease from the previous year.
May 08, 2024 | 10:42 pm
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Mativ Holdings reported significantly lower Q1 earnings than expected but slightly exceeded sales forecasts. Year-over-year, both earnings and sales saw substantial declines.
The significant miss in earnings per share (EPS) expectations is likely to negatively impact investor sentiment and stock price in the short term. Although the sales beat might offer some support, the overall negative earnings report and the substantial year-over-year decline in both earnings and sales are critical factors that could drive the stock price down.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100