Matthews International Corp. announced financial results for the quarter and fiscal year ended Sept. 30, 2023, in a Nov. 16 news release.
The company reported non-GAAP adjusted earnings per share of 96 cents for the quarter, compared with 82 cents a year ago. Quarterly revenue was $480.2 million compared with $457.1 million a year ago.
In discussing the Company’s operating results, Joseph C. Bartolacci, president and chief executive officer, said, “We had a strong finish to fiscal 2023 as demonstrated by our fourth-quarter results. I am pleased to report that the company generated higher sales on a consolidated basis, and adjusted EBITDA growth in all three of our business segments, compared to a year ago.”
The Memorialization segment performed well, he said. “Despite the continued decline in U.S. deaths (reflecting lower COVID-related deaths), the segment’s sales remained relatively stable compared to a year ago,” he said. “In addition, adjusted EBITDA for the segment increased for the quarter and fiscal year reflecting improved price realization and continued emphasis on productivity improvements.”
Looking ahead, he said, “With respect to fiscal 2024, we expect another year of consolidated growth in sales and adjusted EBITDA.”