Mativ Holdings, Inc. (NYSE:MATV) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET

Company Participants

Julie Schertell - Chief Executive Officer
Greg Weitzel - Chief Financial Officer
Chris Kuepper - Director of Investor Relations

Conference Call Participants

Justin Ages - CJS Securities
Daniel Harriman - Sidoti & Company

Operator

Welcome to the Mativ's First Quarter 2024 Earnings Conference Call. On the call today from Mativ are Julie Schertell, Chief Executive Officer; Greg Weitzel, Chief Financial Officer; and Chris Kuepper, Director of Investor Relations. Today's call is being recorded and will be available for replay later this afternoon. At this time, all participants have been placed in a listen-only mode. And the floor will be open for your questions following the presentation. [Operator Instructions]

It is now my pleasure to turn the call over to Mr. Chris Kuepper. Sir, you may begin.

Chris Kuepper

Good morning, everyone, and thank you for joining us for Mativ's first 2024 earnings call. Before we begin, I'd like to remind you that comments included in today's conference call include forward-looking statements. Actual results may differ materially from these comments for reasons shown in detail in our Securities and Exchange Commission filings, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. Some financial measures discussed during this call are non-GAAP financial measures. Reconciliations of these measures to the closest GAAP measures are included in the appendix of the earnings release. Unless stated otherwise, financial and operational metric comparisons are to the prior year period and relate to continuing operations. The earnings release issued yesterday afternoon is available on our website at ir.mativ.com.

With that, I’ll turn the call over to Julie.

Julie Schertell

Thanks, Chris. Good morning everyone and thank you for joining our call. 2024 is off to a good start and I'm happy to report that our demand recovery is playing out as expected. We left you on our last earnings call with evidence of positive signs of demand momentum in many of our end markets and the expectation of a meaningful sequential step up in sales from Q4 to Q1. I'm pleased to confirm that sales in Q1 were $500 million, which was up more than 10% sequentially from Q4, with volume increases across all product categories. While the sequential improvement in Q1 was encouraging, especially after more than a year of customer destocking and economic uncertainty, we are in what we believe to be the early days of demand recovery. And as you can see, our Q1 sales were down almost 9% year-over-year, comping a strong Q1 in 2023.