MATW News & Events

Matthews International held its 2026 Annual Meeting of Shareholders. Among the meeting's key outcomes, the Company announced the re-election of Thomas Gebhardt, Aleta Richards, David Schawk, and Francis Wlodarczyk to its Board of Directors. In addition to the re-election of Board members, amendments to Matthews' Articles of Incorporation were adopted, reflecting the Company's ongoing commitment to enhance its governance practices. Following the Annual Shareholders Meeting, the Board of Directors formally selected J. Michael Nauman to replace Alvaro Garcia-Tunon as Chairman of the Board. Nauman was first appointed to Matthews' Board of Directors in February 2025.

Reports Q2 revenue $284.76M vs. $401.84M last year. Joseph Bartolacci, President and Chief Executive Officer, stated: "We are very pleased with our operating results for the fiscal 2026 first quarter. The Company reported earnings per share on a GAAP basis of $1.39 for the current quarter compared to a loss of $0.11 a year ago. We executed the previously announced sale of the warehouse automation business, receiving $225.4 million in cash proceeds and generating a gain on the divestiture. We also finalized the sale of the European packaging business, marking the full disposition of any controlling interests in the Brand Solutions segment. Additionally, the Memorialization segment reported higher sales and adjusted EBITDA compared to a year ago."

Matthews has reached an agreement with Barington Capital and certain of its affiliates pursuant to which Barington will withdraw its previously submitted director nominations. Pursuant to the agreement with Matthews, Barington will abide by standstill provisions and certain other restrictions. The full agreement will be disclosed in a Current Report on Form 8-K with the SEC.

Matthews International announced the successful closing of the sale of its Warehouse Automation business to Duravant. Under the terms of the transaction, Matthews received total consideration of $232.1M, representing cash consideration of $225.4M plus the assumption of certain liabilities of the business. The Warehouse Automation business generated sales of $72M in fiscal 2025. Joseph Bartolacci, President and CEO of Matthews International, stated: "This transaction is a direct outcome of the strategic alternatives evaluation, reflecting our commitment to unlocking shareholder value and further reducing our debt toward our long-term net leverage ratio goal of 2.5x. The total purchase price represents a compelling valuation multiple that is significantly accretive to Matthews' current trading range. Following this announcement, the Company's strategic alternatives review to enhance shareholder value creation remains ongoing."