When Combined with Previously Announced Transaction, Total Upfront Consideration for Divestiture of the SGK Segment to be $400 Million, Implying Total Value in Excess of $600 million Proceeds to be Used for Continued Debt Repayment PITTSBURGH, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews” or the “Company”) today announced that it has entered into a letter of intent (“LOI”) for the sale of the remaining operating businesses within the SGK Brand Solutions ...

GAMCO Asset Management, Top 5 and Long-Term Shareholder, Endorses Matthews’ Director Nominees Urges Shareholders to Vote “FOR” All Three of Matthews’ Director Nominees on the WHITE Proxy Card and “WITHHOLD” on Barington’s Director Nominees PITTSBURGH, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Matthews International Corporation (Nasdaq GSM: MATW) (“Matthews” or the “Company”) today commented on the significant support it has received from its sell-side analysts following its recent fiscal 2025 first quarter earnings ...

Core Viewpoint - Glass Lewis has determined that Matthews International Corporation has "persistently deteriorated and consistently underperformed" during the tenure of CEO Mr. Bartolacci, indicating a need for change in leadership and governance [5][10] - Barington Capital has been endorsed by Glass Lewis, ISS, and Egan-Jones, recommending shareholders vote "FOR" all of Barington's director nominees to improve the company's performance [2][4] Group 1: Performance and Governance Issues - Matthews has shown significant underperformance across various measurement periods, particularly under the leadership of Mr. Bartolacci [5][10] - The current Board is described as not well-positioned to pursue necessary initiatives for improvement, with a long-tenured governance structure that has not effectively addressed shareholder interests [5][10] - Glass Lewis highlights a lack of a favorable narrative regarding Matthews' valuation, indicating continuous erosion in its relative positioning during Mr. Bartolacci's tenure [5][10] Group 2: Barington's Proposal and Support - Barington Capital, owning approximately 2.1% of Matthews' outstanding shares, has proposed a slate of director nominees that are considered highly qualified [1][4] - The unanimous support from leading proxy advisory firms reinforces Barington's belief that electing its nominees is essential for unlocking Matthews' full value potential [4][10] - Barington's track record of value creation and its consulting efforts are noted as having catalyzed some of Matthews' initiatives, suggesting that Barington can effectively drive change [10]

Core Viewpoint - Matthews International Corporation strongly disagrees with the recommendation from Institutional Shareholder Services (ISS) regarding Barington's positions, arguing that ISS fails to provide substantive analysis of Barington's plans and nominees [1][2]. Company Actions and Strategies - The company emphasizes that Barington's "four-step plan" lacks new ideas beneficial to shareholders, as most initiatives have already been initiated by Matthews [2]. - Matthews highlights the lack of relevant skills and understanding of its business among Barington's nominees, criticizing their track records and preparedness [3]. - The current Board has taken significant actions to enhance shareholder value, including support from GAMCO Asset Management, which holds approximately 4.38% of Matthews' shares [4]. - The Board has developed the Memorialization segment into a leading cash-generating business, allowing for substantial capital returns and reinvestment into high-growth areas like Dry Battery Electrode (DBE) technology [5]. - Following a favorable arbitration outcome against Tesla, Matthews plans to resume marketing its DBE solutions to the electric vehicle market [5]. - The strategic disposition of the SGK business is expected to provide $350 million in upfront consideration, reflecting the company's strategic investments and cost-saving initiatives [5]. - Matthews is engaging J.P. Morgan to evaluate strategic alternatives for its businesses and anticipates announcing several initiatives to drive shareholder value in the 2025 fiscal year [5]. - The Board has welcomed three new independent directors since 2020 and plans to continue refreshing its membership, demonstrating a commitment to governance [5]. Voting and Shareholder Engagement - The company urges shareholders to vote "FOR" its nominees using the WHITE proxy card and to withhold votes for Barington's nominees [6][8]. - Matthews emphasizes the importance of shareholder votes and provides instructions for voting [9].

Matthews International Corporation (NASDAQ:MATW) Q1 2025 Earnings Conference Call February 7, 2025 9:00 AM ET Company Participants Steve Nicola - CFO Joe Bartolacci - President and CEO Conference Call Participants Liam Burke - B. Riley Daniel Moore - CJS Securities Justin Bergner - Gabelli Colin Rusch - Oppenheimer Steve Percoco - Lark Research Ethan Kalis - Bank of America Operator Greetings. And welcome to the Matthews International First Quarter Fiscal 2025 Financial Results Conference Call. At this time ...

www.matw.com | Nasdaq: MATW DISCLAIMER Any forward-looking statements contained in this release are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, including statements regarding the anticipated timing and benefits of the proposed joint venture transaction, and may be i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ____________________________________________________________ FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended December 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from _____ to _____ Commission File No. 0-09115 ____________________________________________________________ ...

NEWS RELEASE Matthews International Corporation Corporate Office Two NorthShore Center Pittsburgh, PA 15212-5851 Phone: (412) 442-8200 February 6, 2025 Contact: Steven F. Nicola Chief Financial Officer and Secretary MATTHEWS INTERNATIONAL REPORTS RESULTS FOR FISCAL 2025 FIRST QUARTER Fiscal 2025 First Quarter Financial Highlights: "Furthermore, the Board's comprehensive evaluation of strategic alternatives for our entire portfolio remains ongoing. • Company maintains outlook for fiscal 2025 (subject to the ...

Core Viewpoint - Matthews International reported quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.26 per share, and down from $0.37 per share a year ago, indicating a significant earnings surprise of -46.15% [1][2]. Financial Performance - The company posted revenues of $401.84 million for the quarter ended December 2024, which was 6.19% below the Zacks Consensus Estimate and down from $449.99 million year-over-year [3]. - Over the last four quarters, Matthews International has surpassed consensus revenue estimates two times [3]. Stock Performance - Matthews International shares have declined approximately 3.4% since the beginning of the year, contrasting with the S&P 500's gain of 3.1% [4]. - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [7]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.55 on revenues of $453.76 million, and for the current fiscal year, it is $2 on revenues of $1.79 billion [8]. - The estimate revisions trend for Matthews International is mixed, and changes in these estimates could impact stock performance [7]. Industry Context - The Funeral Services industry, to which Matthews International belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]. - Another company in the same industry, Service Corp. (SCI), is expected to report quarterly earnings of $1.05 per share, reflecting a year-over-year increase of 12.9% [10].

Core Insights - Matthews International Corporation reported financial results for the first quarter of fiscal 2025, indicating that results were generally in line with expectations, maintaining the outlook for the full fiscal year [1][10] - The company experienced solid performance in the Memorialization and SGK Brand Solutions segments, while the Industrial Technologies segment faced challenges due to litigation with Tesla [1][2] Financial Performance - Consolidated sales for Q1 FY2025 were $401.8 million, a decrease of 10.7% from $450.0 million in Q1 FY2024 [13][14] - The net loss attributable to Matthews was $3.5 million, or $0.11 per share, compared to a loss of $2.3 million, or $0.07 per share in the prior year, representing a 50.8% increase in loss [14][19] - Adjusted EBITDA for Q1 FY2025 was $40.0 million, down 12.0% from $45.5 million in the same quarter last year [13][14] Segment Performance - The Memorialization segment reported sales of $190.5 million, down from $208.1 million, with adjusted EBITDA remaining relatively unchanged [20] - The Industrial Technologies segment saw a decline in sales to $80.5 million from $111.4 million, primarily due to reduced project work with Tesla [20][8] - The SGK Brand Solutions segment had a modest increase in sales to $130.8 million, reflecting improving conditions in the U.S. brand market and increased sales in the Asia-Pacific region [20][7] Strategic Developments - The company is on track to complete the SGK transaction by mid-2025, with an upfront consideration of $350 million, including $250 million in cash for debt reduction [3][10] - Cost reduction actions are underway, with expectations to achieve at least $50 million in savings, despite upfront costs affecting current GAAP results [5][10] - The board is conducting a comprehensive evaluation of strategic alternatives for the entire portfolio [4] Litigation and Costs - A recent arbitration ruling affirmed the company's ownership rights to its Dry Battery Electrode technology, allowing it to market and sell these solutions [2] - Litigation costs related to the Tesla matter have negatively impacted GAAP results, alongside increased healthcare costs of approximately $1.6 million compared to the previous year [9][14] Balance Sheet and Cash Flow - Outstanding debt increased by $32.7 million during Q1 FY2025, reflecting seasonal cash outflows and litigation-related expenses [12][21] - The company reported a net cash used in operating activities of $25.0 million for the quarter, compared to $27.3 million in the prior year [23]