Matthews International Corporation reported consolidated sales of $446.7 million for the fiscal 2024 fourth quarter, a decrease from $480.2 million in the prior year. The company posted a GAAP net loss of $68.2 million, or $2.21 per share, compared to net income of $17.7 million, or $0.56 per share, in Q4 FY23.
For the full fiscal year 2024, consolidated sales were $1.80 billion, down from $1.88 billion in fiscal 2023. Adjusted EBITDA for the year was $205.2 million, compared to $225.8 million a year ago, with the company projecting adjusted EBITDA in the range of $205 million to $215 million for fiscal 2025.
The company announced a cost reduction program underway, targeting general and administrative cost reductions, and reduced outstanding debt by $53.8 million in Q4. Matthews also retained J.P. Morgan to support the evaluation of potential strategic alternatives for its portfolio of businesses, signaling a focus on unlocking shareholder value.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.