Matthews International Q1 revenue falls

Matthews International

03/02/2026 21:24

Overview

Memorialization products maker's fiscal Q1 adjusted EBITDA beat analyst expectations

Fiscal Q1 sales showed slight beat, driven by Memorialization segment growth

Company reduced debt by $174 mln through divestitures

Outlook

Company maintains fiscal 2026 adjusted EBITDA guidance of at least $180 mln

Matthews expects dry battery electrode orders in second half of fiscal 2026

Company anticipates $60 mln cost synergies from Propelis in calendar 2026

Result Drivers

MEMORIALIZATION GROWTH - Higher sales and adjusted EBITDA in the Memorialization segment were driven by The Dodge Company acquisition and increased sales volumes for caskets and cemetery memorials

INDUSTRIAL TECHNOLOGIES CHALLENGES - Sales decline in Industrial Technologies due to engineering business challenges and Tesla dispute, though strong interest in dry battery electrode solutions remains

DEBT REDUCTION - Company reduced outstanding debt by $174 mln, primarily from proceeds of divestitures

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Slight Beat*
$284.76 mln
$282.50 mln (2 Analysts)
Q1 Adjusted EPS
Miss
-$0.19
$0.05 (1 Analyst)
Q1 EPS
$1.39
Q1 Net Income
$43.63 mln
Q1 Adjusted EBITDA
Beat
$35.24 mln
$32.40 mln (2 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the personal products peer group is "buy"

Wall Street's median 12-month price target for Matthews International Corp is $38.00, about 42.6% above its February 2 closing price of $26.65

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release: ID:nPn1fq4Vya

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)