MATW - Matthews incurs quarterly net loss

Matthews International (MATW -4.7%) shares are down after the company incurred a net loss in Q421. Net loss amounted to $3.7M, or $0.12 per share, compared to net income of $7.4M, or $0.24 per share, for the same quarter last year. Nevertheless, net income for the year ended September 30, 2021 was $2.9M ($0.09 per share), compared to a net loss of $87.2M ($2.79 per share) for fiscal 2020. Adj. EPS for the fiscal 2021 fourth quarter were $0.80 per share (vs. $1.11 per share a year ago), topping analysts estimates. Adjusted EBITDA was $52M compared to $64.1M a year ago. The decreases primarily reflect the unfavorable impact of significant commodity cost increases from a year ago. Quarterly consolidated sales were $438.8M (+9.9% Y/Y), with all segments generating higher sales for the quarter compared to the prior year quarter. Changes in foreign currency exchange rates had a favorable impact of

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Matthews incurs quarterly net loss