Matthews Q3 EPS $0.06 vs $0.28 YoY; sales down 9.3%; guides FY adj EBITDA $205-210M

MATTHEWS INTERNATIONAL CORP

2024-Q3 EPS reported $0.27 revenue$1,349,042,000

GAAP EPS $0.06 (down from $0.28); non-GAAP adjusted EPS $0.56 (down from $0.74).
Sales $427.8M, down 9.3% YoY; Memorialization segment consistent, SGK Brand Solutions modest growth.
Adjusted EBITDA $44.7M, down 20.4% YoY; FY2024 adjusted EBITDA guidance $205-210M.
Debt reduced $12.6M during quarter; refinancing of 2025 bonds expected before Dec 1, 2024.
Initiating cost reduction programs targeting $50M annual savings, ~$40M one-time costs.

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