Major Estimate Revision • May 11
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$1.09b to US$1.08b. EPS estimate also fell from US$1.37 per share to US$0.915 per share. Net income forecast to grow 117% next year vs 23% growth forecast for Consumer Services industry in the US. Consensus price target of US$38.00 unchanged from last update. Share price rose 2.7% to US$28.14 over the past week. Declared Dividend • May 04
Second quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 11th May 2026 Payment date: 25th May 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (328% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 265% to bring the payout ratio under control. EPS is expected to grow by 91% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • May 02
Matthews International Declares Quarterly Dividend, Payable on May 25, 2026 Matthews International Corporation announced that its Board of Directors declared, at its regularly scheduled meeting, a dividend of $0.255 per share on the Company's common stock. The dividend is payable May 25, 2026 to stockholders of record May 11, 2026. Reported Earnings • May 01
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: US$0.69 loss per share (further deteriorated from US$0.29 loss in 2Q 2025). Revenue: US$258.6m (down 40% from 2Q 2025). Net loss: US$21.8m (loss widened 145% from 2Q 2025). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is expected to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Consumer Services industry in the US are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 11
Matthews International Corporation to Report Q2, 2026 Results on Apr 30, 2026 Matthews International Corporation announced that they will report Q2, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 30, 2026 Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 24% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.80 to US$1.37 per share. Revenue forecast steady at US$1.09b. Net income forecast to grow 47% next year vs 24% growth forecast for Consumer Services industry in the US. Consensus price target of US$38.00 unchanged from last update. Share price was steady at US$25.88 over the past week. Announcement • Feb 20
Matthews International Corporation Announces Management Changes Matthews International Corporation at its Annual Meeting of Shareholders held on February 19, 2026 selected J. Michael Nauman to replace Alvaro Garcia-Tunon as Chairman of the Board. Mr. Nauman was first appointed to Matthews' Board of Directors in February 2025. Retired as President, Chief Executive Officer, and Director of Brady Corporation, and previously of Molex Incorporated, Ohio Associate Enterprises, and Arthur Andersen and Co., Mr. Nauman is a highly experienced executive with over 35 years of commercial, strategic, and financial expertise. Major Estimate Revision • Feb 11
Consensus EPS estimates increase from loss to US$1.80 profit, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from US$1.14b to US$1.13b. EPS estimate of -US$0.19 up from expected loss of US$1.80 per share previously. Consumer Services industry in the US expected to see average net income growth of 23% next year. Consensus price target of US$38.00 unchanged from last update. Share price was steady at US$26.43 over the past week. Reported Earnings • Feb 04
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$1.39 (up from US$0.11 loss in 1Q 2025). Revenue: US$284.8m (down 29% from 1Q 2025). Net income: US$43.6m (up US$47.1m from 1Q 2025). Profit margin: 15% (up from net loss in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is expected to decline by 10% p.a. on average during the next 2 years, while revenues in the Consumer Services industry in the US are expected to grow by 7.3%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 01
Fourth quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 9th February 2026 Payment date: 23rd February 2026 Dividend yield will be 3.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Jan 29
Matthews International Corporation Declares Quarterly Dividend, Payable on February 23, 2026 Matthews International Corporation announced that its Board of Directors declared, at its regularly scheduled meeting on January 28, 2026, a dividend of $0.255 per share on the Company's common stock. The dividend is payable February 23, 2026 to stockholders of record February 9, 2026. Announcement • Jan 21
Matthews International Corporation, Annual General Meeting, Feb 19, 2026 Matthews International Corporation, Annual General Meeting, Feb 19, 2026. Announcement • Jan 10
Matthews International Corporation to Report Q1, 2026 Results on Feb 03, 2026 Matthews International Corporation announced that they will report Q1, 2026 results After-Market on Feb 03, 2026 Announcement • Jan 02
Duravant LLC completed the acquisition of Warehouse Automation Business of Matthews International Corporation (NasdaqGS:MATW) for $232.1 million. Duravant LLC signed a definitive agreement to acquire Warehouse Automation Business of Matthews International Corporation (NasdaqGS:MATW) for $230 million on November 13, 2025. The consideration comprises $223.3 million in cash and the assumption of certain liabilities. The cash proceeds from the sale will be used to reduce debt and strengthen balance sheet. The Warehouse Automation business will become part of Duravant’s Material Handling operating group.
The Warehouse Automation business generated $72 million in sales for fiscal 2025.
The transaction is subject to customary regulatory approvals and is expected to close before the end of Matthews' fiscal 2026 second quarter. The total purchase price represents a compelling valuation multiple that is significantly accretive to Matthews' current trading range.
J.P. Morgan Securities LLC acted as financial advisor for Matthews International Corporation. K&L Gates LLP acted as legal advisor for Matthews International Corporation.
Duravant LLC completed the acquisition of Warehouse Automation Business of Matthews International Corporation (NasdaqGS:MATW) for $232.1 million on December 31, 2025. Recent Insider Transactions Derivative • Nov 25
CEO, President & Director exercised options and sold US$982k worth of stock On the 20th of November, Joseph Bartolacci exercised options to acquire 39k shares at no cost and sold these for an average price of US$25.10 per share. This trade did not impact their existing holding. For the year to September 2019, Joseph's total compensation was 19% salary and 81% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Joseph's direct individual holding has increased from 551.05k shares to 584.95k. Company insiders have collectively sold US$2.7m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Nov 23
Fourth quarter dividend increased to US$0.26 Dividend of US$0.26 is 2.0% higher than last year. Ex-date: 1st December 2025 Payment date: 15th December 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 21
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: US$0.79 loss per share (improved from US$1.93 loss in FY 2024). Revenue: US$1.50b (down 17% from FY 2024). Net loss: US$24.5m (loss narrowed 59% from FY 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 15% p.a. on average during the next 2 years, while revenues in the Consumer Services industry in the US are expected to grow by 8.5%. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Nov 20
CEO, President & Director exercised options and sold US$651k worth of stock On the 14th of November, Joseph Bartolacci exercised options to acquire 26k shares at no cost and sold these for an average price of US$24.93 per share. This trade did not impact their existing holding. For the year to September 2019, Joseph's total compensation was 19% salary and 81% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Joseph's direct individual holding has increased from 551.05k shares to 584.95k. Company insiders have collectively sold US$1.6m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Nov 08
Matthews International Corporation to Report Q4, 2025 Results on Nov 20, 2025 Matthews International Corporation announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 20, 2025 Announcement • Sep 25
Matthews International Corporation Unveils Its Proprietary Axian Inkjet (Xij) Printing Technology Matthews International Corporation announced that its business, Matthews Marking Systems, is unveiling its proprietary Axian Inkjet (XIJ) printing technology, a breakthrough innovation redefining high-speed, high-resolution product marking for consumer-packaged goods (CPG) and fast-moving consumer goods (FMCG) industries. Utilizing XIJ, the new MPERIA®? Axian XIJ AX1000 Series printer (scheduled to launch next week at the 2025 Pack Expo in Las Vegas) merges the best attributes of Continuous Inkjet (CIJ) and Thermal Inkjet (TIJ) into a single, high-performance platform. Developed by Matthews Marking Systems engineers, XIJ leverages proprietary micro-electromechanical systems (MEMS) technology to deliver a column of ink droplets simultaneously--unlike traditional CIJ systems that eject droplets sequentially. This enables crisp, consistent, high-resolution marks at unprecedented speeds. Key Advantages of XIJ Technology: Simultaneously prints 2D codes and multi-line text without reducing line speed; Lowered total cost of ownership (TCO) by eliminating make up fluids and reducing maintenance costs; Full print resolution at faster speeds compared to CIJ; User adjustable ink controls for clear, high-quality marks. XIJ vs. Traditional Inkjet: Feature Traditional Inkjet (CIJ/TIJ) MEMS-Based (Axian XIJ) Valve Control Mechanical/Electromagnetic Micro-valve MEMS Resolution at 8mm Up to 70 DPI 100 DPI; The Maintenance Complex, frequent Simple, infrequent; Make Up Fluids As needed; Environmental Impact Solvent fumes (CIJ only) Closed system, eco-friendly; Speed & Flexibility Limited for 2D codes (CIJ only) Full speed, 2D/linear codes; Closed Ink System for Eco-Friendly Operation: The MPERIA®? Axians XIJ features a closed ink system that eliminates the need for solvent additives, reducing emissions and supporting sustainable operations. The system draws less than 25 watts of power and is housed in a stainless-steel enclosure for nearly maintenance-free use. Performance Highlights: Speed: Up to 200 ft/min (60 m/min); Resolution: Up to 100 DPI; Print Height: Up to 0.50" (13 mm); Lines of Text: Up to five; throw Distance: 8 mm (optimal); Startup Time: Under one minute; Ink System: Single 800 ml cartridge, no make-up solvent required. Versatile Substrate Compatibility:XIJ technology enables confident marking on a wide range of materials, including: Flexible films (PET, OPP); Coated cardboard and chipboard; Plastics (PVC, HDPE, LDPE); Environmental & Operational Benefits; Closed system: No solvent fumes or emissions; Lower power consumption: Reduced carbon footprint; Compact design: Easy to install and position on manufacturing lines. Reported Earnings • Aug 06
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.49 (up from US$0.058 in 3Q 2024). Revenue: US$349.4m (down 18% from 3Q 2024). Net income: US$15.4m (up US$13.6m from 3Q 2024). Profit margin: 4.4% (up from 0.4% in 3Q 2024). Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Consumer Services industry in the US are expected to grow by 9.6%. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Declared Dividend • Aug 03
Second quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 11th August 2025 Payment date: 25th August 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Jul 31
Matthews International Corporation Declares a Dividend, Payable on August 25, 2025 Matthews International Corporation announced that its Board of Directors declared a dividend of $0.25 per share on the Company’s common stock. The dividend is payable August 25, 2025 to stockholders of record August 11, 2025. Announcement • Jul 11
Matthews International Corporation to Report Q3, 2025 Results on Aug 05, 2025 Matthews International Corporation announced that they will report Q3, 2025 results After-Market on Aug 05, 2025 Declared Dividend • May 04
Second quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 12th May 2025 Payment date: 26th May 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • May 01
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.29 loss per share (down from US$0.29 profit in 2Q 2024). Revenue: US$427.6m (down 9.3% from 2Q 2024). Net loss: US$8.92m (down 199% from profit in 2Q 2024). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • May 01
Matthews International Declares Quarterly Dividend, Payable on May 26, 2025 Matthews International Corporation announced that its Board of Directors declared, at its regularly scheduled meeting a dividend of $0.25 per share on the Company’s common stock. The dividend is payable May 26, 2025 to stockholders of record May 12, 2025. Announcement • Apr 12
Matthews International Corporation to Report Q2, 2025 Results on Apr 30, 2025 Matthews International Corporation announced that they will report Q2, 2025 results After-Market on Apr 30, 2025 Announcement • Mar 13
Matthews International Corporation has filed a Follow-on Equity Offering. Matthews International Corporation has filed a Follow-on Equity Offering.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 1,250,000
Transaction Features: At the Market Offering Recent Insider Transactions • Feb 27
Independent Director recently bought US$98k worth of stock On the 24th of February, J. Nauman bought around 4k shares on-market at roughly US$24.59 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Feb 22
Matthews International Corporation Elects J. Michael Nauman as Director Matthews International Corporation at its Annual Meeting of Shareholders held on February 20, 2025 elected J. Michael Nauman as director for a term of three years. He was elected to serve until the Company’s 2028 Annual Meeting of Shareholders and until his successor is elected and qualified or until his earlier death, resignation or removal. Announcement • Feb 17
Matthews International Corporation Appoints Thomas Gebhardt to the Board of Directors Matthews International Corporation announced that Thomas Gebhardt has been appointed to the company’s board of directors, effective immediately. As previously announced on January 24, 2025, Gregory S. Babe informed Matthews that he would not stand for re-election to the Company’s Board at the 2026 Annual Meeting of Shareholders. As a result of the addition of Mr. Gebhardt to the Matthews Board, Mr. Babe has resigned from the Board, effective immediately. Mr. Gebhardt brings deep industrial automation and battery expertise to Matthews, including over 30 years of experience at Panasonic where he most recently served as Chairman and Chief Executive Officer of Panasonic’s North American business. Under his leadership at Panasonic, the company transitioned from a consumer electronics firm to a successful provider of devices and systems solutions in the industrial and technology sectors. Mr. Gebhardt is recognized for having significantly expanded the company’s presence in Automotive, growing the business to more than $2.8 billion in revenue over a five-year period. In batteries specifically, he grew the business from multi millions to billions of dollars in revenue. Notably, Mr. Gebhardt led Panasonic’s partnership with Toyota and was intimately involved with the development of the exclusive supply relationship between Panasonic and Tesla, including leading Tesla’s Reno based Gigafactory project, which produces the majority of lithium batteries for Tesla’s electric vehicles. Most recently, Mr. Gebhardt served as Interim CEO of Imprint Energy, a printable battery printing company that was acquired by CCL Industries in 2023. Announcement • Feb 13
Barington Capital Sends Letter to Shareholders of Matthews International On February 12, 2025, Barington Capital Group, L.P. sent a letter to Matthews International Corporation’s shareholders highlighting unanimous support for the election of its director nominees – Ana B. Amicarella, Chan W. Galbato, and James Mitarotonda – to the Company’s Board of Directors by all 3 independent proxy advisory firms, ISS, Glass Lewis and Egan-Jones, as well as the Company’s dismal fiscal 2025 first quarter earnings results. Barington Capital also stated that it has uploaded material to https://barington.com/matthews. Reported Earnings • Feb 07
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: US$0.11 loss per share (further deteriorated from US$0.074 loss in 1Q 2024). Revenue: US$401.8m (down 11% from 1Q 2024). Net loss: US$3.47m (loss widened 51% from 1Q 2024). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 41%. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 06
Matthews International Announces Positive Ruling in Arbitration with Tesla Matthews International Corporation provided an update on the ongoing business dispute involving Tesla. On February 5, 2025, an arbitrator issued a decision on an arbitration demand filed by Matthews against Tesla in January 2024. This ruling acknowledged Matthews’ extensive, pre-Tesla background in manufacturing advanced Dry Battery Electrode (“DBE”) technology and affirmed that the Company has the right to sell its solutions to customers other than Tesla. Matthews intends to immediately resume marketing, selling and delivering its DBE products to other customers in the growing electric vehicle market, where battery and automobile equipment manufacturers from around the world seek to adopt Matthews’ innovative solutions. On November 5, 2024, Matthews was awarded U.S. Patent No. 12,136,727 B2 entitled Systems for Manufacturing a Dry Electrode, and Matthews expects this foundational work to lead to further innovations and developments to support the expanding DBE industry. After exhausting efforts to negotiate a resolution to a dispute with its DBE customer Tesla that arose over a year ago, Matthews was forced to seek a declaratory judgment in a binding arbitration regarding Matthews’ rights to continue selling its innovative DBE solutions to others. While this arbitration was ongoing, Tesla initiated duplicative litigation in federal court, vaguely alleging that Matthews had stolen Tesla’s trade secrets, notwithstanding its agreement to arbitrate all such disputes. Given Tesla’s decision to file a public action against Matthews in June of 2024 and in light of the importance of the arbitrator’s ruling, Matthews is compelled to update the market on this matter. Declared Dividend • Feb 02
Fourth quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 10th February 2025 Payment date: 24th February 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Jan 30
Matthews International Declares Quarterly Dividend, Payable on February 24, 2025 Matthews International Corporation announced that its Board of Directors declared, at its regularly scheduled meeting on January 29, 2025, a dividend of $0.25 per share on the Company’s common stock. The dividend is payable February 24, 2025 to stockholders of record February 10, 2025. Announcement • Jan 27
Matthews International Corporation Announces Gregory S. Babe Will Not Stand for Re-Election as Board of Directors On January 24, 2025, Gregory S. Babe informed Matthews International Corporation that he will not stand for re-election to the Company’s Board of Directors at the Company’s 2026 Annual Meeting of Shareholders. Price Target Changed • Jan 13
Price target increased by 7.9% to US$41.00 Up from US$38.00, the current price target is an average from 2 analysts. New target price is 34% above last closing price of US$30.52. Stock is down 12% over the past year. The company is forecast to post a net loss per share of US$0.20 next year compared to a net loss per share of US$1.93 last year. Announcement • Jan 11
Matthews International Corporation to Report Q1, 2025 Results on Feb 06, 2025 Matthews International Corporation announced that they will report Q1, 2025 results After-Market on Feb 06, 2025 Announcement • Jan 08
Matthews International Corporation, Annual General Meeting, Feb 20, 2025 Matthews International Corporation, Annual General Meeting, Feb 20, 2025. Announcement • Dec 11
Barington Capital Sends Letter to Matthews International On December 10, 2024, Barington Capital Group, L.P. announced that it has sent a letter to the Chairman of Matthews International Corporation stating that highlighting it's belief regarding the immediate need for new leadership at the Company and the steps the Company must take to improve long-term value for shareholders, called for the prompt replacement of CEO Joseph C. Bartolacci following 18 years of unacceptable capital allocation, dismal share price performance, poor execution and excessive spending. In addition, Barington Capital stated that it believes Company must also reduce indebtedness, explore options to divest underperforming businesses and improve corporate governance to unlock trapped value. Further, Barington Capital stated that it nominated 3 directors with strong boardroom skills and experience as well as proven track records of creating long-term value for shareholders in connection with the 2025 annual meeting of shareholders. Declared Dividend • Nov 25
Fourth quarter dividend increased to US$0.25 Dividend of US$0.25 is 4.2% higher than last year. Ex-date: 2nd December 2024 Payment date: 16th December 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (89.8% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$1.93 loss per share (down from US$1.28 profit in FY 2023). Revenue: US$1.80b (down 4.5% from FY 2023). Net loss: US$59.7m (down 252% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 2 years compared to a 7.1% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Nov 21
Board Member exercised options and sold US$364k worth of stock On the 17th of November, Gregory Babe exercised options to acquire 15k shares at no cost and sold these for an average price of US$23.76 per share. This trade did not impact their existing holding. Since December 2023, Gregory has owned 66.10k shares directly. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Nov 21
Matthews International Increases Quarterly Dividend, Payable on December 16, 2024 Matthews International Corporation announced that its Board of Directors declared, at its regularly scheduled meeting on November 20, 2024, a dividend of $0.25 per share on the Company’s common stock, representing an increase to the Company’s quarterly dividend rate. The dividend is payable December 16, 2024 to stockholders of record December 2, 2024. Announcement • Nov 09
Matthews International Corporation to Report Q4, 2024 Results on Nov 21, 2024 Matthews International Corporation announced that they will report Q4, 2024 results After-Market on Nov 21, 2024 Major Estimate Revision • Sep 26
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$0.40 to US$0.285 per share. Revenue forecast steady at US$1.79b. Net income forecast to shrink 53% next year vs 32% growth forecast for Commercial Services industry in the US . Consensus price target down from US$45.00 to US$38.00. Share price fell 6.1% to US$22.79 over the past week. Price Target Changed • Sep 25
Price target decreased by 21% to US$38.00 Down from US$48.00, the current price target is an average from 2 analysts. New target price is 69% above last closing price of US$22.49. Stock is down 43% over the past year. The company is forecast to post earnings per share of US$0.40 for next year compared to US$1.28 last year. Major Estimate Revision • Sep 18
Consensus EPS estimates fall by 40% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$0.67 to US$0.40 per share. Revenue forecast steady at US$1.79b. Net income forecast to grow 7.9% next year vs 32% growth forecast for Commercial Services industry in the US. Consensus price target of US$45.00 unchanged from last update. Share price rose 4.2% to US$23.96 over the past week. Major Estimate Revision • Aug 09
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$1.85b to US$1.81b. EPS estimate also fell from US$0.945 per share to US$0.67 per share. Net income forecast to grow 36% next year vs 21% growth forecast for Commercial Services industry in the US. Consensus price target down from US$48.00 to US$45.00. Share price fell 7.7% to US$25.89 over the past week. Price Target Changed • Aug 05
Price target decreased by 11% to US$45.00 Down from US$50.50, the current price target is an average from 2 analysts. New target price is 79% above last closing price of US$25.21. Stock is down 45% over the past year. The company is forecast to post earnings per share of US$0.67 for next year compared to US$1.28 last year. Reported Earnings • Aug 02
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$0.057 (down from US$0.28 in 3Q 2023). 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). Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 74%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 28
Second quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 5th August 2024 Payment date: 19th August 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but not covered by cash flows (214% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 25
Matthews International Corporation Declares Quarterly Dividend, Payable on August 19, 2024 Matthews International Corporation announced that its Board of Directors declared, at its regularly scheduled meeting held on July 24, 2024, a dividend of $0.24 per share on the Company’s common stock. The dividend is payable on August 19, 2024 to stockholders of record August 5, 2024. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$27.35, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 22x in the Commercial Services industry in the US. Total loss to shareholders of 13% over the past three years. Announcement • Jul 13
Matthews International Corporation to Report Q3, 2024 Results on Aug 01, 2024 Matthews International Corporation announced that they will report Q3, 2024 results After-Market on Aug 01, 2024 Announcement • Jun 19
Matthews International Corporation Refutes Tesla Allegations Matthews International Corporation announced on June 14, 2024, Tesla filed a complaint in Federal District Court in the Northern District of California. The claims stated in this threadbare complaint are utterly without merit and it intend to vigorously defend the matter. Notably, the complaint vaguely references trade secrets, but fails to identify even one trade secret that Tesla purportedly disclosed to Matthews. The company is continuing to evaluate this complaint and may pursue legal remedies. Contrary to the allegations in the complaint, Tesla’s lawsuit is simply a new tactic in their ongoing efforts to bully Matthews and improperly take Matthews’ valuable intellectual property. Furthermore, Tesla’s complaint attempts to restrict the company from offering its innovative solutions to others, preventing the market from significantly benefiting from the savings associated with its dry battery electrode (DBE) solutions, and thus interfering with Matthews’ ability to realize the value of its intellectual property. Major Estimate Revision • May 10
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$1.90b to US$1.85b. EPS estimate also fell from US$1.24 per share to US$0.945 per share. Net income forecast to grow 21% next year vs 25% growth forecast for Commercial Services industry in the US. Consensus price target of US$48.00 unchanged from last update. Share price was steady at US$28.83 over the past week. Reported Earnings • May 03
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: US$0.29 (down from US$0.30 in 2Q 2023). Revenue: US$471.2m (down 1.7% from 2Q 2023). Net income: US$9.03m (down 1.1% from 2Q 2023). Profit margin: 1.9% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 28
First quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 3rd May 2024 Payment date: 20th May 2024 Dividend yield will be 3.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 106% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 27
Matthews International Corporation Appoints Francis Wlodarczyk to Board of Directors Matthews International Corporation announced that Francis Wlodarczyk has been appointed to the Companys Board of Directors. Mr. Wlodarczyk brings 35 years of experience in industrial automation, working with global and regional manufacturers in many industries, including automotive, material handling, packaging and consumer products. Most recently, Mr. Wlodarczyk served as Senior Vice President, Intelligent Devices at Rockwell Automation located in Milwaukee, Wisconsin. In this role, he led a multi-billion-dollar global business, responsible for strategic direction, growth, and profitability. Throughout his tenure at Rockwell Automation, Mr. Wlodarczyk served in multiple senior leadership positions in the U.S. and Europe, including roles in general management, strategy development, sales, business development and engineering. Mr. Wlodarczyks appointment to the Board of Directors is the result of an extensive process conducted by the Company. Mr. Wlodarczyk has been appointed to the class of directors whose terms expire at the 2026 Annual Meeting of the Shareholders of the Company. Announcement • Apr 25
Matthews International Corporation Declares Quarterly Dividend, Payable on May 20, 2024 Matthews International Corporation announced that its board of directors declared, at its regularly scheduled meeting on April 24, 2024, a quarterly dividend of $0.24 per share on the company’s common stock. The dividend is payable May 20, 2024 to stockholders of record May 6, 2024. Price Target Changed • Apr 19
Price target decreased by 9.4% to US$48.00 Down from US$53.00, the current price target is an average from 2 analysts. New target price is 82% above last closing price of US$26.43. Stock is down 31% over the past year. The company is forecast to post earnings per share of US$1.24 for next year compared to US$1.28 last year. Announcement • Apr 09
Matthews International Corporation to Report Q2, 2024 Results on May 02, 2024 Matthews International Corporation announced that they will report Q2, 2024 results After-Market on May 02, 2024 