Mattr Corp Stock Price, News & Analysis

Mattr Corp (TSX: MATR) has announced a private placement offering of 125,000 debt subscription receipts at $1,018.75 per receipt, yielding 6.375%, for gross proceeds of approximately $129.3 million. Each subscription receipt will convert into a 7.25% senior unsecured note due April 2, 2031, with a principal amount of $1,000.

The proceeds will partially fund the previously announced acquisition of AmerCable Incorporated, expected to close in Q1 2025. Following the issuance, $300 million aggregate principal amount of 7.25% senior unsecured notes will be outstanding. The offering, led by TD Securities and National Bank Financial Markets, is expected to close around December 19, 2024.

Mattr Corp reported Q3 2024 results with consolidated revenue of $250 million, net income of $13 million, and adjusted EBITDA of $37 million. Revenue from Continuing Operations increased 2% to $226 million. The company announced the sale of Thermotite for $17.5M USD and plans to acquire AmerCable for $280M USD. The Composite Technologies segment saw a 3% revenue decrease to $136 million, while Connection Technologies revenue grew 10% to $90 million. The company remained active in share buybacks, repurchasing 1.44M shares for $22.2M during Q3. Management expects Q4 2024 to see seasonal slowdown and has implemented cost reduction measures targeting $20M in annual savings.

Mattr Corp has agreed to acquire AmerCable from Nexans USA for US$280 million, representing approximately 5.0x TTM Adjusted EBITDA. The acquisition will enhance Mattr's wire and cable capabilities in the U.S. market and strengthen its Connection Technologies segment. The transaction is expected to close around year-end 2024, subject to regulatory approvals. The deal will be immediately accretive to earnings per share by over 40% before synergies and will be financed through cash and existing credit facilities. Post-acquisition, the Connection Technologies segment will represent 54% of consolidated revenue, adding >C$75 million in TTM Adjusted EBITDA.

Mattr Corp (TSX: MATR) has announced its participation in the 16th Annual Southwest IDEAS Investor Conference in Dallas, TX. Mike Reeves, President & CEO, and Tom Holloway, SVP Finance & CFO, will deliver a presentation on November 20, 2024, at 8:35am CT at The Statler. The presentation will be accessible via webcast through both the conference website and Mattr's investor relations section.

Mattr Corp (TSX: MATR) has scheduled its Q3 2024 earnings conference call for Thursday, November 14th, 2024, at 9:00 AM ET. The company will release its financial results for the period ended September 30th, 2024, on Wednesday, November 13th, 2024, after TSX market close. A presentation will be available on the company's website prior to the earnings call. Mattr operates in critical infrastructure markets through two segments: Composite Technologies and Connection Technologies, focusing on infrastructure renewal and enhancement.

Mattr Corp. (TSX: MATR) has announced a definitive agreement to sell its Brazilian pipe coating subsidiary, Thermotite do Brazil, to Vallourec Tubular Solutions for US$17.5 million (approximately CAD$24 million). This transaction marks the final divestment of Mattr's pipe coating business, aligning with the company's strategy to simplify its portfolio and focus on high-return growth in core businesses.

The deal, subject to regulatory approvals, is expected to close within the standard review time. Mattr will retain control and earnings from Thermotite until closing. CEO Mike Reeves stated that this transaction concludes their strategic review process and enhances Mattr's ability to deliver focused growth in remaining core businesses. Thermotite will be reported as an asset held for sale effective September 2024.

Mattr Corp. (TSX: MATR) has been included in the TSX30 for 2024, ranking sixteenth among top-performing stocks on the Toronto Stock Exchange. The company achieved a 183% dividend-adjusted share price appreciation and a 166% increase in market capitalization over the past three years. This marks Mattr's second consecutive year on the list.

CEO Mike Reeves attributes the success to employee efforts in executing the company's high-margin growth strategy. Mattr has invested heavily in 2023 and 2024 to grow its core businesses organically while pursuing strategic acquisitions and returning capital to shareholders through a normal course issuer bid.

Mattr is a global materials technology company serving critical infrastructure markets, operating through two business segments: Composite Technologies and Connection Technologies.

Mattr Corp. (TSX: MATR) has announced its participation in the 15th Annual Midwest IDEAS Investor Conference on August 28, 2024, in Chicago, IL. Mike Reeves, President & CEO, and Tom Holloway, SVP Finance & CFO, will represent the company at the event. The presentation is scheduled for 11:30 AM CT at The Gwen hotel.

Investors and interested parties can access the webcast through the conference host's website at https://www.threepartadvisors.com/midwest or via Mattr's investor relations section at http://www.mattr.com. This event provides an opportunity for Mattr to showcase its business and engage with potential investors through 1x1 meetings, potentially impacting the company's visibility and stock performance.

Mattr Corp. reported its Q2 2024 financial results:

• Consolidated revenue was $254 million, operating income from Continuing Operations was $29 million, and Adjusted EBITDA was $43 million
• Composite Technologies segment revenue reached a new quarterly record of $153 million
• Connection Technologies segment revenue was $89 million
• Net Income was $2.1 million with fully diluted EPS of $0.03 and Adjusted EPS of $0.31

The company made progress on its North American production expansion strategy, with two new facilities starting production. However, it now expects Q3 2024 Adjusted EBITDA to be below Q2 levels due to changes in revenue mix and project timing. Mattr remains confident in long-term market trends and continues executing its growth investments.