Matthews International Corporation (NASDAQ:MATW) Q4 2024 Earnings Conference Call November 22, 2024 9:00 AM ET
Company Participants
Bill Wilson - Senior Director-Corporate Development
Joe Bartolacci - President and CEO
Steve Nicola - CFO
Conference Call Participants
Daniel Moore - CJS Securities
Liam Burke - B. Riley Securities
Justin Bergner - Gabelli
Colin Rusch - Oppenheimer
Operator
Greetings, and welcome to the Matthews International Fourth Quarter and Year-End Fiscal 2024 Financial Results. At this time all participants will be in listen-only mode. A 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 Steve Nicola, Chief Financial Officer. Steve, you may begin.
Steve Nicola
Thank you, Rob. Good morning. I'm Steve Nicola, Chief Financial Officer of Matthews. And with me today is Joe Bartolacci, our company's President and Chief Executive Officer. Before we start, I would like to remind you that our earnings release was posted on the company's website at www.matw.com in the Investors section last night. The presentation for our call can also be accessed in the Investors section of the website under Presentations.
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 public filings with the SEC.
In addition, we will be discussing non-GAAP financial metrics and encourage you to read our disclosures and reconciliation tables carefully as 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 website.
Now I will turn the call over to Joe.
Joe Bartolacci
Thank you Steve. Good morning. Fiscal 2024 was a challenging year for several of our business units, driven by economic conditions and legal events outside of our control. With that said, we are quite pleased with the performance of our larger businesses, Memorialization and SGK that continued to demonstrate the company's resilience, as well as our employees' commitment.
Our Industrial Technologies segment continued to experience slow shipments and installations for our energy storage products in addition to soft demand for warehouse solutions though we do expect the market environment for warehouse solutions to improve in 2025. Consolidated sales and adjusted EBITDA came in as expected, but lower on a year-over-year basis. Overall, we reported $447 million in consolidated sales in the fiscal 2024 fourth quarter compared to $480 million in the fourth quarter of fiscal 2023.