Welcome to our dedicated page for Matthews Intl news (Ticker: MATW), a resource for investors and traders seeking the latest updates and insights on Matthews Intl stock.
Matthews International Corporation (NASDAQ: MATW) generates a steady flow of news tied to its role as a global provider of memorialization products and industrial technologies. Company releases frequently highlight developments in its two core global businesses – Industrial Technologies and Memorialization – along with updates on its significant investment in the Propelis brand solutions business.
Investors following MATW news will see announcements on earnings results, conference calls, and financial guidance, as reflected in releases covering quarterly and full-year performance. These updates often discuss trends in the Memorialization segment, activity in Industrial Technologies, and the contribution from the Propelis investment.
Another major theme in Matthews International’s news flow is its strategic portfolio review. The company has reported transactions such as the divestiture of the SGK Brand Solutions business into Propelis, the sale of its Warehouse Automation business to Duravant, and the closing of sales of European roto-gravure packaging and tooling businesses. News items describe how these actions simplify the business mix and support debt reduction.
MATW news also covers capital structure and shareholder actions, including dividend declarations and increases, a notice of redemption for 8.625% Senior Secured Second Lien Notes due 2027, and commentary on leverage targets. Governance and shareholder matters, such as board chair transitions, proxy-related communications, and planned changes to board structure and voting standards, are also addressed in company statements.
By monitoring this news stream, readers can track Matthews International’s financial performance, portfolio moves, capital allocation decisions, and governance developments as the company pursues its stated objectives in Memorialization, Industrial Technologies, and its Propelis investment.
Matthews International Corporation (NASDAQ: MATW) reported its first quarter fiscal 2023 results, showing a 2.4% increase in sales to $449.2 million year-over-year, attributed mainly to a 47% surge in Industrial Technologies. Net income rose to $3.7 million from a loss of $19.8 million, translating to $0.12 per share. However, non-GAAP adjusted EPS fell by 28.4% to $0.53. The company continues to expect strong performance in its Industrial Technologies segment, while challenges remain in SGK Brand Solutions due to currency impacts. The fiscal 2023 adjusted EBITDA guidance is reaffirmed at $215 million to $235 million.
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.