Matthews International reports Q4 net loss of $68.2M; retains J.P. Morgan for strategic alternatives

MATTHEWS INTERNATIONAL CORP

2024-FY EPS reported -$1.93 revenue$1,795,737,000

Q4 sales $446.7M (-7% YoY); full-year sales $1.80B; net loss $68.2M vs profit $17.7M last year.
Adjusted EBITDA Q4 $58.1M (-6.1% YoY); full-year adjusted EBITDA $205.2M.
Debt reduced by $53.8M in Q4; refinanced senior notes due 2025 with shorter-term bond.
Cost reduction program underway includes non-cash goodwill impairment and severance charges.
Retained J.P. Morgan to evaluate potential strategic alternatives for portfolio of businesses.

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