MATW FY 2023 Earnings Report — Matthews International Corporation Revenue & Financial Results | Market Cap Arena

Matthews International CorporationMATW

FY 2023 Earnings

Reported November 17, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.8B	—	6.7%
Op. Income	$113M	—	$78M	—	44.2%
Gross Margin	29.1%	—	27.1%	—	2.0pp
Net Margin	2.1%	—	-5.7%	—	7.8pp
EPS (Diluted)	$1.26	—	$-3.18	—	139.6%
Free Cash Flow	$29M	—	$66M	—	-55.9%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.3B
GROSS PROFIT	$548M
R&D Expenses	$16M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$419M
Other Expenses	$0
Operating Expenses	$435M
Cost & Expenses	$1.8B
OPERATING INCOME	$113M
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$72M
INCOME BEFORE TAX	$41M
Income Tax Expense	$2M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$97M
EBIT	$91M
EBITDA	$188M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.3B
GROSS PROFIT	$548M
R&D Expenses	$16M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$419M
Other Expenses	$0
Operating Expenses	$435M
Cost & Expenses	$1.8B
OPERATING INCOME	$113M
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$72M
INCOME BEFORE TAX	$41M
Income Tax Expense	$2M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$97M
EBIT	$91M
EBITDA	$188M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$39M
Depreciation & Amortization	$97M
Stock-Based Compensation	$17M
Deferred Income Tax	-$22M
Other Non-Cash Items	-$16M
Change in Working Capital	-$36M
OPERATING CASH FLOW	$80M
Capital Expenditure	-$51M
Acquisitions (Net)	-$9M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$59M
Net Debt Issuance	-$18M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$28M
Other Financing Activities	-$912.0K
NET CASH FROM FINANCING	-$50M
FREE CASH FLOW	$29M
Net Change in Cash	-$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$42M
Short-Term Investments	$0
Net Receivables	$282M
Inventory	$260M
Other Current Assets	$64M
TOTAL CURRENT ASSETS	$648M
PP&E (Net)	$342M
Goodwill	$698M
Intangible Assets	$160M
Long-Term Investments	$25M
Tax Assets	$2M
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.9B
Account Payables	$114M
Short-Term Debt	$28M
Deferred Revenue	$37M
Other Current Liabilities	$144M
TOTAL CURRENT LIABILITIES	$395M
Long-Term Debt	$780M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$71M
Other Non-Current Liabilities	$60M
TOTAL NON-CURRENT LIABILITIES	$968M
TOTAL LIABILITIES	$1.4B
Common Stock	$36M
Additional Paid-In Capital	$168M
Retained Earnings	$715M
Treasury Stock	-$219M
Accum. Other Comp. Income	-$174M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$526M
Minority Interest	-$387.0K
TOTAL EQUITY	$525M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$864M
Net Debt	$822M