Matthews International Corporation · NASDAQ:MATW
Matthews International — Q1 2024 Earnings Presentation
17 slides from Matthews International's earnings presentation, Feb 2, 2024
Slide 1: First Quarter Fiscal 2024 Earnings Teleconference
www.matw.com | Nasdaq: MATW First Quarter Fiscal 2024 Earnings Teleconference February 2, 2024 Joseph C. Bartolacci President and Chief Executive Officer Steven F. Nicola Chief Financial Officer
Slide 2: Disclaimer
© 2024 Matthews International Corporation. All Rights Reserved. DISCLAIMER 2 Any forward-looking statements contained in this presentation are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are
Slide 3: Overview
Matthews fEtaniss OVERVIEW INTERNATIONAL
Slide 4: Business Update
© 2024 Matthews International Corporation. All Rights Reserved. 4 SGK BRAND SOLUTIONS MEMORIALIZATION INDUSTRIAL TECHNOLOGIES • Q1 benefited from recent acquisition of Eagle Granite • Return to normalized death rates • Improved pricing and realized benefits from recent cost reduction actions • Lower
Slide 5: Outlook for Fiscal 2024
© 2024 Matthews International Corporation. All Rights Reserved. Key Drivers • Growth in consolidated sales and adjusted EBITDA • Customer interest in the energy storage solutions business remains strong • Large longer-term projects impact quarterly predictability • Global economic conditions remain
Slide 6: Overview
Matthews Gace INTERNATIONAL’ OVERVIEW
Slide 7: Q1 2024 Summary
© 2024 Matthews International Corporation. All Rights Reserved. Q1 2024 SUMMARY 7 ($ in millions except per-share amounts) Q1 Q1 2023 Q1 2024 Sales $ 449.2 $ 450.0 Diluted earnings (loss) per share $ 0.12 $ (0.07) Non-GAAP Adjusted EPS* $ 0.53 $ 0.37 Net income (loss) attributable to Matthews $ 3.7
Slide 8: Industrial Technologies
© 2024 Matthews International Corporation. All Rights Reserved. INDUSTRIAL TECHNOLOGIES 8 15.5% 12.4% 15.6%10.3% ($ in millions) $109.1 $111.4 Q1 FY2023 Q1 FY2024 $12.2 $9.6 Q1 FY2023 Q1 FY2024 11.2% 8.6% Q1 Sales Q1 Adjusted EBITDA & Margin* Sales • Another quarter of sales growth compared to a yea
Slide 9: Memorialization
© 2024 Matthews International Corporation. All Rights Reserved. MEMORIALIZATION 9 23.0% 21.1% $206.5 $208.1 FY2023 FY2024 $39.1 $36.7 FY2023 FY2024 19.0% 17.6% ($ in millions) Q1 Sales Q1 Adjusted EBITDA & Margin* Sales • Higher sales of granite memorial products and the acquisition of Eagle Granite
Slide 10: SGK Brand Solutions
© 2024 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS ($ in millions) * See supplemental slides for Adjusted EBITDA and other important disclaimers regarding Matthews’ use of Non-GAAP measures 10 15.4% 12.9% $133.6 $130.5 FY2023 FY2024 $12.2 $12.9 FY2023 FY2024 9.2% 9.9
Slide 11: Capitalization and Cash Flows
© 2024 Matthews International Corporation. All Rights Reserved. • Operating cash flow for prior period reflected final payouts for the settlement of the Company’s supplemental retirement plan obligations • Net Debt Leverage Ratio* 3.7 as of December 31, 2023 • Quarterly dividend of $0.24/share, paya
Slide 12: Supplemental Information
Matthews Buea INFORMATION INTERNATIONAL
Slide 13: Non-GAAP financial measures
© 2024 Matthews International Corporation. All Rights Reserved. 13 Included in this report are measures of financial performance that are not defined by GAAP, including, without limitation, adjusted EBITDA, adjusted net income and EPS, constant currency sales, constant currency adjusted EBITDA, and
Slide 14: Adjusted EBITDA Non-GAAP Reconciliation
© 2024 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted EBITDA. 14 Three Months Ended December 31, 2023 2022 Net (loss) income $ (2,303) $ 3,647 Income tax (benefit) provision (726) 1,312 (L
Slide 15: Adjusted Net Income and Earnings Per Share Non-GAAP Reconciliation
© 2024 Matthews International Corporation. All Rights Reserved. ADJUSTED NET INCOME AND EARNINGS PER SHARE NON-GAAP RECONCILIATION (Unaudited) (In thousands, except per share data) * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted net income and ad
Slide 16: Constant Currency Sales and Adjusted EBITDA Non-GAAP Reconciliation
© 2024 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to constant currency sales and constant currency adjusted EBITDA. 16 CONSTANT CURRENCY SALES AND ADJUSTED EBITDA NON-GAAP RECONCILIATION (Unaudite
Slide 17: Net Debt and Net Debt Leverage Ratio Non-GAAP Reconciliation
© 2024 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to net debt and net debt leverage ratio. 17 December 31, 2023 September 30, 2023 Long-term debt, current maturities $ 4,948 $ 3,696 Long-term debt
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