Matthews International Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St

August 03, 2024

Matthews International (NASDAQ:MATW) Third Quarter 2024 Results

Key Financial Results

Revenue: US$427.8m (down 9.3% from 3Q 2023).
Net income: US$1.78m (down 80% from 3Q 2023).
Profit margin: 0.4% (down from 1.9% in 3Q 2023).
EPS: US$0.057 (down from US$0.28 in 3Q 2023).

earnings-and-revenue-growth — NasdaqGS:MATW Earnings and Revenue Growth August 3rd 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Matthews International Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 74%.

Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Commercial Services industry in the US.

Performance of the American Commercial Services industry.

The company's shares are down 5.2% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Matthews International has 3 warning signs (and 2 which are potentially serious) we think you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com