Matthews International Corporation announced its third quarter fiscal 2025 results on August 5, 2025, reporting consolidated sales of $349.4 million, a decrease from $427.8 million in the prior year. This decrease primarily reflected the $80.2 million impact of the SGK divestiture on May 1, 2025.
The company reported GAAP net income of $15.4 million, or $0.49 per share, a significant increase from $1.8 million, or $0.06 per share, in Q3 FY24, largely driven by a gain on the SGK divestiture. Adjusted EBITDA remained relatively consistent at $44.6 million, but on a pro forma basis, including Matthews' 40% share of Propelis' estimated adjusted EBITDA for May-June 2025, it would have been $51.3 million, a 14.6% increase year-over-year.
Matthews reduced consolidated outstanding debt by $120 million in Q3, primarily from SGK divestiture proceeds. The new entity, Propelis Group, increased its projected cost synergy estimates to approximately $60 million. The company maintained its adjusted EBITDA guidance of 'at least $190 million' for fiscal 2025, which includes its estimated 40% share of Propelis adjusted EBITDA.
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