Mativ Holdings, Inc. (NYSE:MATV) Q1 2024 Earnings Call Transcript

Julie Schertell: Yes, I would agree with Greg on the biggest risk. I think the actions we’ve put in place and the things that we can control, I feel really positive about, and we’re seeing those play out. And we’re seeing new business and share gain across a number of our categories. FAM is already delivering high teens to low 20% EBITDA margins. So I’m pleased with that. We have opportunities in margin and staff and we’re seeing improvement in both healthcare and liners, and that will continue to improve as we ramp up Mexico. And then the restructuring effort announced recently adds about $20 million as we exit the year one margin point. So margins are coming and the revenue growth target will happen over time as we migrate to higher growth categories of filtration and [indiscernible] advanced films, as well as the growth drivers that I mentioned earlier to Justin’s question.

So I feel good about the focus and the efforts we’ve put in place and the team that we have in place and the restructuring and the cost reduction efforts. I think right now we have to execute. We said earlier this is the year of execution and that really is true for Mativ. And I think the team is doing a great job of supporting that and driving value and volume in the marketplace today.

Daniel Harriman: Perfect. Thank you all so much, and best of luck in the coming quarter, and talk soon. Thanks again.

Julie Schertell: Thanks, Dan.

Operator: Thank you. We currently have no further questions, so I’ll hand back over to Julie for any closing remarks.

Julie Schertell: Sure. Thank you for joining us this morning on our Q1 earnings call. I hope what you heard was we’re well positioned to continue to capture higher sales and EBITDA as the year continues, supported by a more streamlined and agile structure, improving demand and lower operating costs. I appreciate your interest in Mativ and look forward to our next call.

Operator: Thank you. This concludes today’s call. Thank you all for joining. You may now disconnect your lines.

Julie Schertell: Thanks.