Matthews International Q4 Adj $0.96 Beats $0.90 Estimate, Sales $480.17M Miss $483.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Matthews International (NASDAQ:MATW) reported Q4 adjusted earnings of $0.96 per share, surpassing the consensus estimate of $0.90, a 6.67% beat and a 17.07% increase from the previous year. However, sales of $480.17M fell short of the expected $483.00M, a slight miss by 0.59%, but still a 5.04% increase year-over-year.
November 16, 2023 | 9:27 pm
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Matthews International reported higher-than-expected Q4 earnings but slightly missed revenue estimates. Earnings per share were up 17.07% from last year, while sales increased by 5.04%.
While MATW exceeded earnings estimates, which is typically a positive signal for investors, the slight miss on revenue could temper the market's reaction. The mixed results may lead to a neutral short-term impact on the stock price, as the earnings beat could be offset by the slight sales miss.
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