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Overview of Matthews International Corporation
Matthews International Corporation (NASDAQ: MATW) is a globally diversified company operating across three primary business segments: Brand Solutions, Memorialization, and Industrial Technologies. With a history spanning over 175 years, the company has built a robust reputation for delivering innovative, high-quality products and services to a wide range of industries. Headquartered in Pittsburgh, Pennsylvania, Matthews maintains a significant global presence, with operations in more than 30 countries and a workforce of over 11,000 employees.
Brand Solutions Segment
Matthews’ Brand Solutions segment specializes in providing comprehensive packaging and brand management services. Through its acquisition of SGK, a globally recognized brand activation and deployment company, Matthews supports consumer packaged goods (CPG) companies by ensuring consistency in brand standards across packaging components. This segment offers services such as creative design, printing equipment, and embossing tools, helping businesses amplify their brand presence and streamline marketing efforts. By leveraging its expertise in packaging solutions, Matthews plays a critical role in enhancing the market performance of its clients.
Memorialization Segment
A cornerstone of Matthews’ operations, the Memorialization segment serves the funeral and cemetery industries with a comprehensive range of products and services. These include bronze and granite memorials, caskets, cremation equipment, and related products designed to help families honor and remember their loved ones. With over a century and a half of experience, Matthews has become a trusted partner for funeral homes and cemeteries worldwide. This segment’s consistent cash flow underscores its importance to the company’s overall financial stability.
Industrial Technologies Segment
The Industrial Technologies segment represents Matthews’ commitment to innovation and technological advancement. This division focuses on the design, manufacturing, and distribution of cutting-edge solutions, including high-tech energy storage systems, product identification technologies, and warehouse automation solutions. Notably, Matthews has made significant strides in the development of dry battery electrode (DBE) technology, which supports the growing electric vehicle (EV) market. By addressing critical industrial needs, this segment positions Matthews as a forward-thinking leader in industrial technology.
Global Reach and Market Significance
Matthews International’s operations span six continents, enabling the company to serve diverse markets and industries effectively. Its global footprint and diversified business model provide resilience against economic fluctuations and industry-specific challenges. The company’s ability to integrate traditional craftsmanship with modern technological solutions sets it apart in competitive landscapes.
Competitive Landscape
In the Brand Solutions segment, Matthews competes with other packaging and branding firms, differentiating itself through its global capabilities and comprehensive service offerings. The Memorialization segment faces competition from regional and global providers of memorial products, while the Industrial Technologies segment contends with other innovators in energy storage and automation technologies. Matthews’ strategic focus on innovation, quality, and customer-centric solutions enables it to maintain a competitive edge.
Commitment to Quality and Innovation
Matthews International’s long-standing commitment to quality and innovation is evident across all its business segments. By continuously investing in research and development, the company ensures its offerings remain relevant and impactful. This dedication to improvement not only enhances customer satisfaction but also solidifies Matthews’ position as a trusted partner in its industries.
Matthews International Corporation (NASDAQ: MATW) declared a dividend of $0.23 per share on January 25, 2023. This dividend is payable on February 20, 2023, to stockholders of record as of February 6, 2023. Matthews operates in memorialization products, industrial technologies, and brand solutions, employing approximately 12,000 personnel globally.
On January 17, 2023, Matthews International Corporation (NASDAQ GSM: MATW) announced the nomination of Aleta Richards for election to its Board of Directors, to be voted on at the annual shareholders meeting on February 16, 2023. Dr. Richards currently serves as Executive Vice President of Specialty Films at Covestro Deutschland AG and has extensive experience in senior leadership roles across global markets, including sales, marketing, and human resources. The Board believes her international expertise and strong background will significantly benefit Matthews, enhancing its strategic direction and leadership.
PITTSBURGH, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Matthews International Corporation (Nasdaq GSM: MATW) will release its first quarter fiscal year 2023 earnings on January 26, 2023, after market close. A conference call, scheduled for January 27 at 9:00 a.m. ET, will discuss financial results and outlook, featuring CEO Joseph C. Bartolacci and CFO Steven F. Nicola. A transcript will be available on their website post-call. Matthews provides industrial technologies, memorialization products, and brand solutions globally, employing approximately 12,000 staff across 30+ countries.
Matthews International (NASDAQ: MATW) announced over $200 million in orders for its energy storage solutions business in Q1 of fiscal 2023, surpassing its entire fiscal year 2022 revenues. This surge in orders positions the company as a leader in the electric vehicle energy storage sector, reflecting heightened industry interest. With the business having tripled over the past two years, Matthews is potentially on track for another year of significant growth, according to CEO Joseph Bartolacci.
Matthews International Corporation (NASDAQ: MATW) has engaged Barington Capital Group as a consultant to support its strategic growth. This partnership involves Barington voting its shares in favor of Matthews' nominees at the upcoming 2023 Annual Shareholders’ Meeting. Joseph C. Bartolacci, CEO of Matthews, expressed appreciation for Barington's insights, while Barington's CEO, James A. Mitarotonda, aims to enhance shareholder value through collaborative efforts. Matthews operates in various sectors, including memorialization and industrial technologies, with a global workforce of about 12,000 employees.
Matthews International Corporation (NASDAQ: MATW) reported 4th quarter sales of $457.1 million, a 4.2% increase from last year. Adjusted EBITDA rose by 7.5% to $55.9 million. For fiscal 2022, total sales were $1.76 billion, up 5.5%. Key growth drivers included the Industrial Technologies and Memorialization segments, with energy storage solutions leading the way. However, a $82.5 million goodwill impairment affected net loss, resulting in a loss of $81 million for the quarter. Looking forward, the company anticipates consolidated EBITDA between $215 million to $235 million for fiscal 2023.
Matthews International Corporation (MATW) announced a quarterly dividend increase to $0.23 per share, showcasing its strong cash flow position. This marks the 29th consecutive annual dividend increase since becoming publicly traded. The dividend is payable on December 12, 2022, to stockholders of record by November 28, 2022. CEO Joseph C. Bartolacci reaffirmed the company’s commitment to funding strategic investments and acquisitions, reflecting confidence in its financial stability for fiscal 2023.
Matthews International Corporation (Nasdaq: MATW) announced it will release its fourth quarter and fiscal year 2022 earnings after the market closes on November 17, 2022. A conference call will be held on November 18, 2022, at 9:00 a.m. ET to discuss financial results and outlook. The company specializes in industrial technologies, memorialization products, and brand solutions, employing around 11,000 people across 26 countries.
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.
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