Matthews International Corporation (NASDAQ:MATW) Q1 2023 Earnings Conference Call January 27, 2023 9:00 AM ET
Company Participants
Bill Wilson - Senior Director of Finance & Corporate Development
Joe Bartolacci - President & CEO
Steven Nicola - CFO
Conference Call Participants
Daniel Moore - CJS Securities
Liam Burke - B. Riley
Justin Bergner - Gabelli Funds
Operator
Greetings, and welcome to the Matthews International Corporation First Quarter Fiscal 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Bill Wilson, Senior Director of Corporate Finance. Thank you, Bill. You may begin.
Bill Wilson
Thank you, Paul. Good morning, everyone, and welcome to the Matthews International first quarter fiscal year 2023 results conference call. This is Bill Wilson, Senior Director of Corporate Development. With me today are Joe Bartolacci, President and Chief Executive Officer; and Steve Nicola, our Chief Financial Officer.
Before we start, I would like to remind you that our earnings release was posted on our website, www.matw.com in the Investors section last night. The presentation for our call can also be accessed in the Investors section of the Web site.
Any forward-looking statements in connection with this discussion are being made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors that could cause the company's results to differ from those discussed today are set forth in the company's annual report on Form 10-K and other periodic filings with the SEC.
In addition, we'll be discussing non-GAAP financial metrics and encourage you to read our disclosures and reconciliation tables carefully before you consider these metrics. In connection with any forward-looking statements and non-GAAP financial information, please read the disclaimer included in today's presentation materials located on our Web site.
And now I'll turn the call over to Joe.
Joe Bartolacci
Thank you, Bill. Good morning. We are pleased with our fiscal '23 first quarter results. During the quarter, we add higher revenue, thanks to the particularly strong performance of our Industrial Technology segment. This segment is on track to have yet another strong year of growth, thanks to the addition not only of Olbrich Automotive and R+S, but most importantly, thanks to the recently announced $200 million plus in orders in the energy storage business. These orders cover client needs for new calendaring and coding equipment, spare parts, roller refurbishment and maintenance.