Mativ Holdings, Inc. (NYSE:MATV) Q2 2024 Earnings Conference Call August 8, 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

Daniel Harriman - Sidoti
Justin Ages - CJSW Securities

Operator

Welcome to Mativ's Second Quarter 2024 Earnings Conference Call. On the call today for 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 the 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 second quarter 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 SEC 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. Reconciliation 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. I'm pleased to report that Q2 results showed strong adjusted EBITDA improvement as well as being the second consecutive quarter of volume growth.

We've generated adjusted EBITDA of $67 million, which was up 45% from the previous quarter and up 13% year-over-year. Additionally, adjusted EBITDA margin was up 350 basis points sequentially and 150 basis points year-over-year.

Results came in ahead of expectations due to a strong spread between selling price and input cost, as well as operational improvements that came in earlier than expected. While both segments performed well, our SaaS segment was the biggest driver this quarter, delivering over $10 million of incremental EBITDA and over 300 basis points of margin improvement year-over-year.