Matthews Intl Corp Down 5.26% To $36.17 After Earnings Beat

Matthews Intl Corp (MATW) said after close Thursday that it earned $0.96 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $480.2 million, missing estimates by $2.8 million.

In the same quarter a year ago, the company earned $0.82 per share on revenue of $457.1 million.

The stock is down 5.26% to $36.17 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Matthews Intl Corp a Neutral Sentiment Rank from InvestorsObserver.

Matthews Intl Corp has performed a little above average during the past few months. Before the report, Matthews Intl Corp received a Long-Term Technical Rank by InvestorsObserver of 60, putting it in the top half of stocks. The firm set a 52-week high on July 27, 2023 at $48.86 and set a 52-week low on November 17, 2022 at $27.17.

Matthews International Corp is a personal services company that primarily provides brand solution services, memorialization products, and industrial products in the United States and Europe. The majority of Matthews' revenue is derived from its SGK Brand Solutions business, which provides brand development services, printing equipment, creative design services, and embossing tools to the consumer packaged goods and packaging industries. The company's Memorialization segment, which sells bronze and granite memorials, caskets, and cremation equipment to the cemetery and funeral home industries, also contributes a significant amount. Most of Matthews' revenue is generated from sales made in the U.S., while European customers also contribute a sizable percentage.