Business
Matthews International Reports Results for Fourth Quarter and Fiscal Year Ended September 30, 2022
4th Quarter Financial Highlights: 4th quarter consolidated sales were $457.1 million, compared to $438.8 million last yearOn a constant currency basis, 4th
About this update from Matthews International Corporation
[{"type":"text","content":"4th Quarter Financial Highlights: 4th quarter consolidated sales were $457.1 million, compared to $438.8 million last yearOn a constant currency basis, 4th quarter sales grew $41.8 million, or 9.5%, from a year ago Adjusted EBITDA in fiscal 2022 4th quarter also higher than a year agoEnergy storage solutions business generates significant growth in 4th quarter Fiscal 2022 Financial Highlights: Fiscal 2022 sales were $1.76 billion, exceeding prior year by $91.4 million, or 5.5%On a constant currency basis, fiscal 2022 sales grew $147.7 million, or 8.8%, over last yearWebcast: Friday, November 18, 2022, 9:00 a.m., (201) 689-8471 PITTSBURGH, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) today announced financial results for the quarter and fiscal year ended September 30, 2022. In discussing the Company’s operating results, Joseph C. Bartolacci, President and Chief Executive Officer, stated: “I am pleased with our operating results for the fourth quarter and fiscal year ended September 30, 2022. We generated growth in consolidated sales and adjusted EBITDA compared with the fourth quarter a year ago despite continuing significant headwinds in our European markets, and the related impact on currency rates. As reported, consolidated sales for the current quarter were $457.1 million, compared to $438.8 million last year. On a constant currency basis, fiscal 2022 fourth quarter sales were $41.8 million, or 9.5%, higher than a year ago. This growth primarily reflected higher sales for our Industrial Technologies and Memorialization segments. “For the Industrial Technologies segment, our energy storage solutions business performed very well for the fiscal 2022 fourth quarter, completing another year of strong sales growth. We continue to make great progress in this business as interest in our energy storage solutions remains very high and significant incoming orders are expected. In addition, the acquisitions of Olbrich GmbH and R+S Automotive GmbH contributed to the sales increase. The integrations of these acquisitions are progressing well. “The product identification and warehouse automation solutions businesses within this segment also reported a solid finish to the fiscal year. As a result, both businesses generated another year of sales growth for the fiscal year ended September 30, 2022. In...