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Matthews International Corp. reports developments from two core global businesses: Memorialization and Industrial Technologies. Memorialization news centers on memorials, caskets, cremation and incineration equipment, cemetery and funeral home customers, pricing, volume trends, acquisitions and productivity initiatives. Industrial Technologies updates include marking technologies, MPERIA® Axian Inkjet systems and proprietary dry battery electrode solutions for battery manufacturing.
Company releases also cover quarterly results, dividends on Class A common stock, debt refinancing and debt reduction, the Propelis brand solutions investment, governance actions approved at shareholder meetings and arbitration-related disclosures tied to dry battery electrode equipment.
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.
Matthews International Corporation (MATW) announced a Joint Development Agreement (JDA) with Illuming Power Inc. to develop a production line for expanded graphite bipolar plates, reducing production costs of hydrogen fuel cells. This two-year partnership aims to accelerate mass market adoption in transportation and stationary applications. The partnership leverages Matthews' capabilities in clean energy and builds on its acquisition of Terrella Energy Systems. This initiative aligns with Matthews' growth strategy in the fast-evolving energy market.
Matthews International Corporation (MATW) reported a 13.4% increase in sales for Q1 FY2022, totaling $438.6 million, with all segments contributing positively. However, the company faced a GAAP net loss of $19.8 million (or $0.62 per share) due to pension settlement losses and cost increases. Adjusted net income was $23.6 million with an adjusted EPS of $0.74. The company anticipates adjusted EBITDA of at least $220 million for the fiscal year, citing strong sales trends despite ongoing cost challenges.
Matthews International Corporation (NASDAQ GSM: MATW) has declared a $0.22 per share dividend on its common stock, set to be paid on February 21, 2022 to shareholders of record as of February 7, 2022. The company operates globally with approximately 11,000 employees across 26 countries, providing brand solutions, memorialization products, and industrial technologies. The dividend reflects the company’s commitment to returning value to its shareholders amidst its diverse operations and market presence.
Matthews International Corporation (Nasdaq: MATW) has announced the release of its first quarter fiscal year 2022 earnings on January 27, 2022, after market close. A conference call will be hosted on January 28 at 9:00 a.m. ET, led by CEO Joseph C. Bartolacci and CFO Steven F. Nicola, with a follow-up Q&A session. The call will review financial results and future outlook. Investors can access transcripts post-call on the company's website.
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Matthews International Corporation (MATW) reported record annual sales of $1.67 billion for fiscal 2021, a $172.7 million increase from the previous year. The fourth quarter sales reached a new high of $438.8 million, up 9.9%. Operating cash flow stood at $162.8 million, with debt reduced by $70.8 million. However, the company reported a net loss of $3.7 million in Q4 and a diluted loss per share of $0.12. Non-GAAP adjusted EPS for Q4 fell to $0.80, a 27.9% decrease year-over-year. Looking ahead, while sales growth is anticipated for fiscal 2022, adjusted EBITDA may decline due to rising commodity costs.
PITTSBURGH, Nov. 17, 2021 - Matthews International Corporation (NASDAQ: MATW) announced a $0.22 per share dividend, marking an increase in the quarterly rate. The dividend is payable on December 13, 2021 to stockholders of record as of November 29, 2021. President and CEO Joseph C. Bartolacci noted strong operating cash flow in fiscal 2021, contributing to significant debt reduction and reinforcing expectations for continued strong cash flow in fiscal 2022. This marks the company's 28th consecutive annual dividend increase since becoming publicly traded.
Matthews International Corporation (Nasdaq GSM: MATW) plans to release its fourth quarter and fiscal year 2021 earnings after market close on November 18, 2021. A conference call will follow on November 19, 2021, at 9:00 a.m. ET, to discuss financial results and outlook. The call will be led by Joseph C. Bartolacci, President and CEO, and Steven F. Nicola, CFO. Matthews International provides various brand solutions and technologies with approximately 11,000 employees across 25 countries.