From GlobeNewswire: 2024-11-21 16:15:00

Matthews International Corporation reported financial results for the 4th quarter and fiscal year ended September 30, 2024. Sales for the 4th quarter were $446.7 million, with outstanding debt reduced by $53.8 million. Adjusted EBITDA for fiscal 2024 was $205.2 million. The company set adjusted EBITDA guidance for fiscal 2025. A webcast will be held on November 22, 2024.

The Memorialization segment saw higher adjusted EBITDA for the quarter despite lower unit volumes due to a decline in U.S. deaths. The SGK Brand Solutions segment reported consecutive sales growth, reflecting improved pricing and sales in the Asia-Pacific market. Sales for the Industrial Technologies segment declined due to customer delays in the energy business.

During the quarter, Matthews International Corporation reduced its outstanding debt by $53.8 million and completed the refinancing of outstanding senior notes. The company is projecting higher operating cash flow next year and expects adjusted EBITDA in the range of $205 million to $215 million for fiscal 2025. J.P. Morgan has been retained to evaluate potential strategic alternatives.

For the fiscal year ended September 30, 2024, consolidated sales were $1.80 billion, with a net loss of $59.7 million. Adjusted net income was $67.0 million, with adjusted EPS of $2.17. Adjusted EBITDA for the year was $205.2 million. The company’s net debt leverage ratio is 3.6, based on adjusted EBITDA of $205.2 million and net debt of $735.7 million.



Read more at GlobeNewswire:: Matthews International Reports Results for Fourth Quarter