MATTHEWS INTERNATIONAL Releases Third Quarter FY2023 Earnings Results
August 29, 2023
🌥️Earnings Overview
On July 28 2023, MATTHEWS INTERNATIONAL ($NASDAQ:MATW) reported their financial results for the third quarter of FY2023, covering the period ending June 30 2023. The company saw an 11.9% year-over-year increase in total revenue to USD 471.9 million, and a substantial rise in net income from 2.9 million to 8.7 million.
Stock Price
The company’s stock opened at $47.5 and closed at $46.2, representing a decrease of 3.3% from the previous closing price of 47.8. This was attributed to strong cost-cutting measures and a focus on efficiency. Overall, MATTHEWS INTERNATIONAL reported a lower-than-expected performance for the third quarter of FY2023, with revenue and operating profit both declining year-over-year.
The company’s strong cash flow was a bright spot in the otherwise disappointing report. Investors will be watching closely to see how MATTHEWS INTERNATIONAL responds to the challenge posed by these results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Matthews International. More…
| Total Revenues | Net Income | Net Margin |
| 1.86k | -59.39 | -0.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Matthews International. More…
| Operations | Investing | Financing |
| 119.4 | -95.64 | -49.79 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Matthews International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.88k | 1.36k | 17.14 |
Key Ratios Snapshot
Some of the financial key ratios for Matthews International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.6% | 45.0% | -0.9% |
| FCF Margin | ROE | ROA |
| 3.3% | -1.9% | -0.5% |
Analysis
At GoodWhale, we’ve conducted an analysis of MATTHEWS INTERNATIONAL’s wellbeing. Our Risk Rating shows that MATTHEWS INTERNATIONAL is a medium risk investment in terms of financial and business aspects. We’ve detected two risk warnings in MATTHEWS INTERNATIONAL’s income sheet and balance sheet. To access the full details of these warnings, you’ll need to become a registered user. We offer detailed insights into investments, so that you can make informed decisions. More…
Peers
Matthews International Corporation, together with its subsidiaries, is engaged in the manufacture of brand identity and decorative products. It operates in three segments: Branding Solutions, Memorialization, and Industrial Technologies. The Branding Solutions segment provides metal and plastic nameplates, and embossed metal products, as well as identification badges, and signs and display systems. The Memorialization segment offers caskets, cremation equipment, and bronze memorials. The Industrial Technologies segment manufactures highly engineered industrial parts, including investment castings, forgings, die castings, and stampings.
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Summary
Matthews International Corporation reported their earnings results for the third quarter of FY2023 on July 28th, showing a strong quarter of revenue growth. Total revenue increased by 11.9% year over year to USD 471.9 million, while net income increased significantly from 2.9 million to 8.7 million. Despite these strong results, the stock price moved down the same day, likely due to investor expectations of more substantial growth.
Analysts suggest that investors should keep an eye on Matthews International’s fourth quarter results to evaluate the company’s longer term outlook. Furthermore, investors should consider the company’s financial health, including liquidity and leverage before making any investment decisions.
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