Matthews Intl Corp - MATW STOCK NEWS

Matthews International Corporation (NASDAQ: MATW) reported strong financial results for the fourth quarter and fiscal year ended September 30, 2020. Consolidated sales for Q4 reached $399.1 million, a 1.7% increase from the previous year, driven by growth in the Memorialization segment. The company's operating cash flow hit a record $180.4 million for the year and net debt was reduced by $112.2 million. However, the full year saw a net loss of $87.2 million, primarily due to pandemic impacts. EPS for Q4 was $0.24, improving significantly from the prior year.

Matthews International Corporation (MATW) has announced a dividend increase to $0.215 per share, reflecting its commitment to cash management and strong operating cash flow. This marks the 27th consecutive annual dividend increase since becoming publicly traded. The dividend will be payable on December 14, 2020, to stockholders recorded by November 30, 2020. Despite challenging economic conditions, the Board of Directors remains confident in the Company’s cash generation capabilities.

Matthews International Corporation (MATW) announced that it will release its fourth quarter and fiscal year 2020 earnings results on November 19, 2020, after market close. A conference call will follow on November 20, 2020, at 9:00 a.m. ET to discuss these results. The call will be led by President and CEO Joseph C. Bartolacci and CFO Steven F. Nicola, with a question-and-answer session afterward. Investors can access the call via phone or webcast. Matthews International offers solutions in branding, memorialization, and industrial technology, employing approximately 11,000 people worldwide.

On October 28, 2020, SGK, a division of Matthews International Corporation (NASDAQ: MATW), announced a comprehensive rebranding to emphasize its role as a global packaging and brand experience provider. The rebranding integrates its previous brands—Anthem, Brandimage, IDL, Marque, and Schawk—under one unified identity set to launch in early 2021. The initiative accompanies an organizational redesign aimed at enhancing creativity and efficiency. SGK's president highlighted their longstanding commitment to innovation in packaging production while reflecting on their evolving market strategy.

Matthews International Corporation (NASDAQ: MATW) has appointed Lillian Etzkorn to its Board of Directors, effective October 1, 2020. Ms. Etzkorn, currently the CFO of Shiloh Industries, has extensive experience in financial leadership, having served as CFO at CPI Card Group and held senior roles at Dana Inc. and Ford Motor Company. Her expertise is expected to enhance Matthews’ financial strategy. Etzkorn will initially join the Audit Committee.

Matthews International Corporation (NASDAQ: MATW) reported its financial results for Q3 FY2020, showing a decrease in consolidated sales to $359.4 million, down 5.2% year-over-year. The net income dropped significantly to $2.3 million ($0.07 per share), an 84.5% decline compared to $14.6 million in Q3 FY2019. Noteworthy was a substantial debt reduction of $104.9 million and strong operating cash flow exceeding $57 million. The Memorialization segment saw revenue growth, while the SGK Brand Solutions and Industrial Technologies segments experienced declines due to COVID-19 impacts. Adjusted EBITDA fell to $49.4 million.

Matthews International Corporation (NASDAQ: MATW) has declared a dividend of $0.21 per share, payable on August 17, 2020, to stockholders of record by August 3, 2020. The company operates across three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies, employing approximately 11,000 people worldwide. The dividend declaration reflects the company's commitment to returning value to shareholders amidst ongoing economic uncertainties and operational challenges.

Matthews International Corporation (MATW) will release its third quarter fiscal 2020 earnings results after market close on July 30, 2020. A conference call is scheduled for July 31, 2020, at 9:00 a.m. ET to discuss the financial results and future outlook, featuring CEO Joseph C. Bartolacci and CFO Steven F. Nicola. Investors can access the call via phone or through a webcast, with a replay available until August 14, 2020. Matthews International operates globally across brand solutions, memorialization products, and industrial technologies, employing around 11,000 people in over 25 countries.

On June 26, 2020, Matthews International Corporation (MATW) sold its noncontrolling interest in a pet cremation services business for $57.2 million. The sale included $42.2 million in cash and $15.0 million in preferred stock. This transaction aligns with the company's strategy to boost cash flow and reduce debt, especially during the adverse effects of COVID-19. Additionally, the company recently sold a property for $11.25 million, expected to significantly lower its consolidated net debt by the end of fiscal 2020.