Matthews International Corporation (NASDAQ:MATW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.39%.
Matthews International Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0% to $0.61 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Rose 13.67% to $256.39 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Matthews International Corporation reported adjusted EPS income of $0.61 per share. By that measure, the company beat the mean analyst estimate of $0.6. It beat the average revenue estimate of $244.14 million.
Quoting Management: In discussing the Company’s results for the quarter, Joseph C. Bartolacci, President and Chief Executive Officer, stated:
“Our consolidated results for the current quarter are very encouraging. The key demographics for Memorialization favorably affected the results of this Group, particularly our Funeral Home Products segment as U.S. death rates returned to more normal trends. In addition, our recent acquisitions have performed well and contributed to our second quarter operating results. While operating results in several of our Brand Solutions businesses continued to be challenged by soft economic conditions, particularly in Europe, we recently have started to see evidence of some firming in many of these markets.”
Key Stats (on next page)…
Revenue increased 13.64% from $225.61 million in the previous quarter. EPS increased 45.24% from $0.42 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.69 to a profit $0.72. For the current year, the average estimate is a profit of $2.49, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)