Welcome to our dedicated page for Matthews International news (Ticker: MATW), a resource for investors and traders seeking the latest updates and insights on Matthews International stock.
Matthews International Corporation (MATW) is a leading provider of brand solution services, memorialization products, and industrial products. Established over a century ago, the company has grown and diversified, now operating through three main business segments: Brand Solutions, Memorialization, and Industrial. These segments collectively generate over $1.4 billion in sales annually and boast a workforce of more than 10,000 employees spanning six continents.
Brand Solutions focuses on managing brand standards across all packaging components. The acquisition of SGK, a prominent brand development, activation, and deployment company, has further strengthened Matthews' capabilities in this sector. SGK operates in over 20 countries, driving brand performance for consumer packaged goods and packaging industries. The services offered include brand development, creative design, printing equipment, and embossing tools.
Memorialization is another cornerstone of Matthews' operations, with a legacy of over 150 years in the industry. The company provides a comprehensive range of products and services to cemeteries and funeral homes, including bronze and granite memorials, caskets, and cremation equipment. This segment is built on a foundation of quality and customer service, key aspects that have sustained its leadership position over the decades.
The Industrial segment caters to various markets with high-quality products and services. Although this segment is less highlighted compared to Brand Solutions and Memorialization, its contribution remains significant.
Financially, Matthews International is strong, with a significant portion of its revenue generated from the U.S. market, supported by a notable European customer base. The company's continuous focus on quality improvement in every business facet ensures sustained growth and market leadership.
For more detailed and up-to-date information, including the latest news and financial results, visit Matthews International Corporation's official website or contact their corporate office.
PITTSBURGH, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ: MATW) has completed the acquisition of OLBRICH GmbH and R+S Automotive GmbH for €43 million (approximately $45 million). OLBRICH specializes in manufacturing equipment for lithium-ion battery components, while R+S Automotive provides engineering services for automotive manufacturing. The integration aims to enhance Matthews' capabilities in the electric vehicle and green energy sectors, positioning the company as a significant player in energy solutions with expanded global reach.
Matthews reported consolidated sales of $1.31 billion year-to-date, a 5.9% increase over the previous year. For Q3 FY2022, sales were $421.7 million, down 1.6% from Q3 FY2021. Currency impacts reduced year-to-date sales by $32.8 million and adjusted EBITDA by $6.2 million. Q3 GAAP EPS was $0.09, while non-GAAP adjusted EPS was $0.58, a 36.3% decline year-over-year. The company anticipates continued consolidated sales growth but is adjusting its earnings outlook due to foreign currency fluctuations and global market conditions.
Matthews International Corporation (NASDAQ: MATW) has declared a dividend of $0.22 per share, payable on August 22, 2022, to stockholders of record as of August 8, 2022. The company operates in three primary segments: Memorialization, Industrial Technologies, and SGK Brand Solutions, employing about 11,000 people across more than 26 countries. Their diverse offerings include memorial products, custom energy storage solutions, and packaging services, aimed at enhancing customer value and brand experiences.
Matthews International Corporation (Nasdaq: MATW) will release its third quarter fiscal year 2022 earnings results after the market closes on July 28, 2022. A conference call to discuss the results and outlook is scheduled for July 29, 2022, at 9:00 a.m. ET, featuring key executives including President and CEO Joseph C. Bartolacci. This call will be accessible via phone or webcast. A transcript will be posted on the company's website following the call.
The company, established as a global leader in industrial technologies and memorialization products, employs around 11,000 employees across 26 countries.
Matthews International Corporation (NASDAQ: MATW) announced plans to acquire the engineering firms OLBRICH GmbH and R+S Automotive GmbH for EUR €43 million (approx. $45 million). With combined revenues exceeding $100 million, OLBRICH specializes in rotary processing equipment crucial for lithium-ion battery production, while R+S Automotive provides automation services for the automotive sector. The acquisition, intended to enhance Matthews' capabilities in the electric vehicle industry, is pending regulatory approval expected to close by July 2022.
Matthews International Corporation (MATW) reported record quarterly consolidated sales of $445 million, up 6.7% year-over-year, with notable growth in all segments. The Industrial Technologies segment saw a 19.7% increase in sales, driven by energy solutions. However, the company faced a net loss of $1.9 million for Q2 FY2022, a significant drop from a $5.0 million profit last year, primarily due to asset write-downs linked to geopolitical events. Despite these challenges, MATW reaffirmed its fiscal 2022 outlook, projecting continued sales growth and adjusted EBITDA of at least $220 million.
Matthews International Corporation (NASDAQ: MATW) has declared a dividend of $0.22 per share on its common stock, payable on May 23, 2022, to shareholders of record on May 9, 2022. The company operates globally in three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies, employing approximately 11,000 individuals across 26 countries. This announcement underscores the company's commitment to returning value to shareholders amidst its diverse business offerings.
Matthews International Corporation (NASDAQ: MATW) will release its second quarter fiscal year 2022 earnings results on April 28, 2022, after market close. A conference call will be held on April 29, 2022, at 9:00 a.m. ET, featuring senior executives including President and CEO Joseph C. Bartolacci and CFO Steven F. Nicola. The call will cover financial results, operational performance, and future outlook. Interested parties can access the call via phone or webcast, with a transcript available afterward on the company’s investor relations website.
Matthews International Corporation (MATW) will open a new facility in San Antonio, Texas, in July 2022 for refurbishing calender rolls used in lithium-ion battery production. The facility supports the expanding renewable energy market, with patented technology aimed at reducing production costs and enhancing the adoption of fuel cells in various sectors, including electric vehicles. There are plans for further expansion to include a Technical Center for application testing, reinforcing Matthews' leadership in clean energy technologies.
Matthews International Corporation (NASDAQ: MATW) has elected Alvaro Garcia-Tunon as the new Chairman of the Board following the retirement of John D. Turner, who served since 2010. Garcia-Tunon, a board member since 2009 and former CFO of Wabtec Corporation, aims to uphold the company's legacy of growth and innovation. The company operates in three segments: Brand Solutions, Memorialization, and Industrial Technologies, employing around 11,000 individuals across 26 countries.
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