Matthews Intl Corp Stock Price, News & Analysis

Matthews International (NASDAQ GSM: MATW) has announced a proposed private offering of senior secured second lien notes due 2027. The company plans to amend its senior credit facility to allow these notes to be secured by a second priority lien on substantially all assets of the company and certain domestic subsidiaries. MATW intends to use the net proceeds, along with borrowings under its senior credit facility, to redeem all outstanding 5.25% senior notes due December 1, 2025, pay accrued and unpaid interest, and satisfy the indenture governing these existing notes.

The new notes will be offered and sold only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act. This announcement does not constitute an offer to sell or a solicitation of an offer to buy the notes, nor does it serve as a redemption notice for the existing 2025 notes.

Matthews International (NASDAQ: MATW) reported financial results for its fiscal 2024 third quarter. Key highlights include:

- Outstanding debt reduced by $12.6 million during the quarter
- Q3 GAAP EPS of $0.06; non-GAAP adjusted EPS of $0.56
- SGK Brand Solutions segment reports sales growth
- Energy storage sales impacted by customer delays
- Cost reduction initiatives announced

The company's consolidated sales decreased 9.3% to $427.8 million. Net income attributable to Matthews was $1.8 million, down from $8.7 million in the prior year. Adjusted EBITDA for Q3 was $44.7 million, compared to $56.2 million a year ago. The company projects fiscal 2024 adjusted EBITDA to be in the range of $205 million to $210 million.

Matthews International (NASDAQ GSM: MATW) has announced a quarterly dividend of $0.24 per share on its common stock. The dividend was declared by the company's Board of Directors during their regularly scheduled meeting on July 24, 2024. Stockholders of record as of August 5, 2024, will be eligible to receive the dividend, which is set to be paid on August 19, 2024. This announcement demonstrates Matthews International's commitment to providing regular returns to its shareholders.

Matthews International (Nasdaq GSM: MATW) has announced the release of its third quarter fiscal year 2024 earnings results on August 1, 2024, after market close. The company will hold a conference call and webcast on August 2, 2024, at 9:00 a.m. Eastern Time to review their financial and operating performance and discuss future outlooks. Key participants will include CEO Joseph C. Bartolacci, CFO Steven F. Nicola, and Senior Director of Corporate Development William D. Wilson. A Q&A session will follow the presentations, and a transcript will be made available on the Investor Relations section of the company's website after the call.

Matthews International refutes Tesla's recent allegations, claiming the lawsuit is unfounded and part of an effort to improperly acquire Matthews' intellectual property.

Tesla filed a complaint on June 14, 2024, alleging undisclosed trade secrets. Matthews asserts the claims lack specifics and intends to defend itself vigorously.

Matthews highlights its long history in developing DBE technology that reduces EV production costs, stating Tesla has been a client for years. The company believes the lawsuit won't materially impact its business.

Matthews International (NASDAQ GSM: MATW) announced its participation in the B. Riley Securities 24th Annual Institutional Investor Conference at the Beverly Hilton Hotel, Beverly Hills, CA, on May 22, 2024.

President and CEO Joe Bartolacci, along with CFO Steve Nicola, will present and host one-on-one meetings with investors. Presentation materials will be available on the investor relations section of its website.

Matthews International (NASDAQ: MATW) reported financial results for its second quarter of fiscal 2024. The company saw outstanding debt reduced by $19.6 million with net debt lower by $27.2 million. GAAP earnings per share remained consistent at $0.29, while non-GAAP EPS increased to $0.69. SGK reported higher sales and adjusted EBITDA compared to a year ago. Energy storage sales also saw growth. Despite challenges, the company remains confident in its long-term strategies and outlook.