CEO Joseph C. Bartolacci characterized the period as challenging across all business segments. The industrial technology division faced pressure from an ongoing legal dispute with Tesla and the impact of previous divestitures. While Matthews recently launched its MEODEO™ dry-electrode battery manufacturing line in Germany, these long-term investments have yet to offset near-term volatility.
In section Releases
Matthews International Trims Outlook Amid Industrial and Market Headwinds
Matthews International Corporation reported a difficult third quarter for fiscal 2026, citing persistent delays in its energy storage business and rising costs in its memorialization segment. The Pittsburgh-based company responded by lowering its full-year earnings guidance and launching a restructuring program to shave $10 million in annual costs.
Financial strain also surfaced in the company’s memorialization business, where lower casket volumes and rising input costs squeezed profitability. Although the acquisition of The Dodge Company provided some support, it could not fully counter broader market headwinds. To stabilize its balance sheet, the firm reduced total debt by $12 million during the quarter and received $25 million from the redemption of preferred equity interests in its Propelis joint venture. Matthews now expects adjusted EBITDA for the fiscal year to land between $158 million and $162 million.
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