Matthews International Corp (MATW) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...

GuruFocus.com10-10

Net Income: $1.8 million or $0.06 per share, down from $8.7 million or $0.28 per share a year ago. Adjusted Earnings Per Share: $0.56, compared to $0.74 last year. Consolidated Sales: $427.8 million, ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2474320918?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/osfhwEvNN6PTJdb4tP8XAQ--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/1bc156152c134d147185e816b702b408","is_english":true,"pubTime":"2024-10-10 03:56","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2474320918","market":"us","top_or_hot":-1,"title":"Matthews International Corp (MATW) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...","media":"GuruFocus.com","content":"<div>\n<p>Net Income: $1.8 million or $0.06 per share, down from $8.7 million or $0.28 per share a year ago.\nAdjusted Earnings Per Share: $0.56, compared to $0.74 last year.\nConsolidated Sales: $427.8 million, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/matthews-international-corp-matw-q3-195653239.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Matthews International Corp (MATW) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMatthews International Corp (MATW) Q3 2024 Earnings Call Highlights: Navigating Challenges with ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 03:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/matthews-international-corp-matw-q3-195653239.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Net Income: $1.8 million or $0.06 per share, down from $8.7 million or $0.28 per share a year ago.\nAdjusted Earnings Per Share: $0.56, compared to $0.74 last year.\nConsolidated Sales: $427.8 million, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/matthews-international-corp-matw-q3-195653239.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MATW","symbol_name":"马修国际加工","start_time":0,"source_url":"https://finance.yahoo.com/news/matthews-international-corp-matw-q3-195653239.html","article_id":"2474320918","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/osfhwEvNN6PTJdb4tP8XAQ--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/1bc156152c134d147185e816b702b408"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474320918","pubTimestamp":1728503813,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Net Income: $1.8 million or $0.06 per share, down from $8.7 million or $0.28 per share a year ago.Adjusted Earnings Per Share: $0.56, compared to $0.74 last year.Consolidated Sales: $427.8 million, down from $471.9 million a year ago.Adjusted EBITDA: $44.7 million, compared to $56.2 million a year ago.Memorialization Segment Sales: $202.7 million, compared to $208.7 million last year.SGK Brand Solutions Segment Sales: $133.4 million, up from $132.6 million a year ago.Industrial Technology Segment Sales: $91.7 million, down from $130.5 million a year ago.Cash Flow from Operating Activities: $13.5 million, compared to $32.2 million a year ago.Outstanding Debt: Reduced by $12.6 million to $830 million as of June 30, 2024.Leverage Ratio: 3.77 based on net debt and trailing 12 months adjusted EBITDA.Dividend: $0.24 per share, payable August 19, 2024.GuruFocus has detected 6 Warning Signs with MATW.Q: On the revised guidance for fiscal 2024, how much energy storage revenue is included, and i","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MATW":"马修国际加工"},"translate_title":"Matthews International Corp(MATW)2024年第三季度收益看涨期权亮点：应对挑战……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MATW":1},"content_text":"Net Income: $1.8 million or $0.06 per share, down from $8.7 million or $0.28 per share a year ago.\nAdjusted Earnings Per Share: $0.56, compared to $0.74 last year.\nConsolidated Sales: $427.8 million, down from $471.9 million a year ago.\nAdjusted EBITDA: $44.7 million, compared to $56.2 million a year ago.\nMemorialization Segment Sales: $202.7 million, compared to $208.7 million last year.\nSGK Brand Solutions Segment Sales: $133.4 million, up from $132.6 million a year ago.\nIndustrial Technology Segment Sales: $91.7 million, down from $130.5 million a year ago.\nCash Flow from Operating Activities: $13.5 million, compared to $32.2 million a year ago.\nOutstanding Debt: Reduced by $12.6 million to $830 million as of June 30, 2024.\nNet Debt: Reduced by $9.8 million to $787 million as of June 30, 2024.\nLeverage Ratio: 3.77 based on net debt and trailing 12 months adjusted EBITDA.\nDividend: $0.24 per share, payable August 19, 2024.\n\n\nWarning! GuruFocus has detected 6 Warning Signs with MATW.\n\nRelease Date: August 02, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nThe Memorialization segment reported solid performance despite a decline in U.S. casketed deaths, with improved pricing and modular OEM sales offsetting volume declines.\nSGK Brand Solutions demonstrated stable top-line growth, benefiting from improved pricing and cost reduction actions, as well as increased activity in the European packaging market.\nThe company is on track to exceed its $40 million sales target for its e-commerce digital initiative, highlighting a successful area of focus and opportunity.\nMatthews International Corp (NASDAQ:MATW) reduced its outstanding debt by $13 million through effective cash flow management and plans further reductions by year-end.\nThe company is initiating a cost reduction program targeting up to $50 million in annual savings, primarily from changes in engineering and tooling operations in Europe.\n\n Negative Points \n\nConsolidated sales and adjusted EBITDA declined year-over-year, primarily due to customer delays in shipments and installations for energy storage products.\nThe Industrial Technology segment experienced a significant decline in sales, particularly in engineering and warehouse automation businesses.\nLegal fees related to a lawsuit with Tesla are impacting SG&A costs, adding financial pressure.\nCash flow from operating activities decreased significantly compared to the previous year, reflecting lower consolidated adjusted EBITDA.\nThe company faces challenges in the warehouse automation business due to slow market conditions and higher interest rates, impacting order placements.\n\n Q & A Highlights \nQ: On the revised guidance for fiscal 2024, how much energy storage revenue is included, and is there a risk of revenue slipping into fiscal 2025? A: Joseph Bartolacci, President and CEO, explained that they expect to carry over $60 million to $70 million worth of backlog into 2025. For the fourth quarter, they anticipate about $30 million in billings, with shipments planned through late February of next year.\nQ: Are plans to build battery production capability in-house still on track, and what will the capacity look like? A: Joseph Bartolacci clarified that they are building a production line rather than production capability. This line will standardize the DBE solution, accelerating adoption by major customers and improving cost structure.\nQ: Is fiscal 2025 expected to be a growth year for the energy storage business? A: Joseph Bartolacci indicated that 2025 is expected to be a good year, though not significantly growth-oriented. The focus will be on cost structure improvements and potentially more announcements post-litigation.\nQ: Can you provide more details on the $50 million cost reduction plan and its cash impact? A: Steven Nicola, CFO, noted that the majority of the cost reduction plan involves cash, but there is a component related to asset write-offs. Specific cash figures were not provided during the call.\nQ: How are you approaching non-core businesses given your current debt position and refinancing plans? A: Joseph Bartolacci stated that they are considering all options, especially as their Industrial Technologies business progresses. They are evaluating non-core businesses more comprehensively.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474320918"}