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PITTSBURGH - Matthews International Corporation (NASDAQ:MATW) reported fourth-quarter earnings Thursday that exceeded analyst expectations, driven by strong performance in its Memorialization segment and warehouse automation business. The company’s shares rose 1.4% after-hours following the announcement.
The industrial products manufacturer posted adjusted earnings of $0.50 per share for the quarter ended September 30, significantly beating the analyst estimate of $0.23. Revenue came in at $318.84 million, surpassing the consensus projection of $290.79 million.
"I am pleased to report that we had a strong finish to fiscal 2025 as our consolidated results were ahead of our initial expectations for the fiscal 2025 fourth quarter," said Joseph C. Bartolacci, President and Chief Executive Officer.
The Memorialization segment, which provides products such as memorials, caskets, and cremation equipment, reported higher sales compared to the previous year, primarily benefiting from the recent acquisition of The Dodge Company. Higher sales volumes for bronze memorials and inflationary price realization also contributed to the segment’s growth.
While the Industrial Technologies segment faced challenges in its engineering business due to ongoing litigation with Tesla, the warehouse automation business showed signs of recovery with increased sales YoY.
Looking ahead, Matthews set its fiscal 2026 adjusted EBITDA guidance (including its 40% share of Propelis) to be at least $180 million. The company also expects its pending warehouse automation transaction to reduce its net leverage ratio below 3.0x, moving toward its long-term target of 2.5x.
"I am excited about the new foundation we are establishing and the future of Matthews," Bartolacci added. "We now enter the new fiscal year with a strong focus on sustaining our momentum in Memorialization, capitalizing on the opportunities in the high growth Industrial Technologies segment, and taking further cost reduction actions."
For fiscal 2026, Matthews anticipates continued growth in the Memorialization segment, particularly with the full-year contribution from The Dodge Company acquisition.
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