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Home›Amortization›Matthews International: Sidoti Virtual Small Cap Conference

Matthews International: Sidoti Virtual Small Cap Conference

By Trishia Swift
January 19, 2022
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WARNING

All forward-looking statements contained in this presentation are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks.

and

uncertainties that could cause the Company’s actual results in future periods to differ materially from management’s expectations. Although the Company believes that the expectations reflected in these forward-looking statements

are

reasonable, no assurance can be given that such expectations will prove to be correct. Factors that could cause the Company’s results to differ materially from the results discussed in these forward-looking statements primarily include

changes in domestic or international economic conditions, changes in currency exchange rates, changes in the cost of materials used in the manufacture of the Company’s products, changes in death and cremation rates, changes in product demand or prices as a result of consolidation in the industries in which the Company operates or other factors such as supply chain disruptions, labor shortages or increases in labor costs implementation, changes in product demand or prices due to domestic or international competitive pressures, the ability to achieve cost reduction objectives, unknown risks associated with the Company’s acquisitions, cybersecurity issues, shortages labor or increases in labor costs, the effectiveness of the Company’s internal controls, compliance with laws and domestic and foreign regulations, technological factors beyond the Company’s control, the impact of pandemics or similar epidemics, such as coronavirus disease 2019 (“COVID-19”) or other disruptions to our industries, our omers customers or supply chains, and other factors described in the company’s annual report on Form 10-K and other periodic filings with the United States Securities and Exchange Commission (“SEC”).

The information in this presentation, including financial data, is as of September 30, 2021, unless otherwise indicated. The Company does not and is under no obligation to update this information after the date of this information. This report includes measures of financial performance that are not defined by US generally accepted accounting principles (“GAAP”). The Company uses non-GAAP financial measures to help compare its performance on a consistent basis for business decision-making purposes by removing the impact of certain items that management believes do not directly reflect the Company’s core business. the Company, including acquisition costs, ERP integration costs, strategic initiative and other charges (which include non-recurring charges related to operational initiatives and exit activities), stock-based compensation, part non-service pension and post-retirement expenses, legal reserves, one-time/incremental costs related to COVID-19, and depreciation, amortization, interest expense and other joint venture expenses. Management believes that the presentation of non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items that management believes do not directly reflect core business of the Company, (ii) allows investors to view performance using the same tools that management uses to budget, forecast, make operational and strategic decisions and assess historical performance, and (iii) otherwise provides additional information that may be useful to investors in evaluating the results of the Company. The Company believes that the presentation of these non-GAAP financial measures, when considered in conjunction with the corresponding GAAP financial measures and reconciliations thereto, provided herein provides investors with additional understanding of the factors and trends affecting the business of the Company that could not be obtained in the absence of such disclosures.

The Company believes that Adjusted EBITDA provides relevant and useful information, which is used by the Company’s management to assess the performance of its activities. Adjusted EBITDA is defined by the Company as earnings before interest, income taxes, depreciation, amortization and certain non-cash and/or non-recurring items that do not directly contribute to management’s assessment of its operating results. . These items include stock-based compensation, the non-service portion of retirement and post-retirement expenses, acquisition costs, ERP integration costs, strategic initiatives and other expenses. Adjusted EBITDA provides the Company with an understanding of earnings before the impact of investing and financing costs and income taxes, and the effects of certain acquisition and ERP integration costs, and other items that do not reflect ordinary profit from the Company’s operations. This measure can be useful for an investor to assess operational performance. It is also useful as a financial measure for lenders and is used by Company management to measure business performance. In this presentation, the Company also presented Adjusted EBITDA Margin, which the Company believes can help investors evaluate its business by providing the margin that Adjusted EBITDA represents over sales. Adjusted EBITDA and Adjusted EBITDA margin are not measures of the Company’s financial performance under GAAP and should not be considered alternatives to net income or other performance measures calculated in accordance with GAAP , or as alternatives to cash flow from operating activities as a measure of business liquidity. The Company’s definitions of Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similarly titled measures used by other companies.

The Company has also presented net debt and net debt leverage ratio, which is referred to herein as “financial leverage”, and believes that each measure provides relevant and useful information, which is widely used by analysts and investors as well only by our direction. These measures provide management with an overview of the Company’s indebtedness, net of cash and cash equivalents and relative to adjusted EBITDA. These measures allow management, as well as analysts and investors, to assess the Company’s leverage.

Finally, the Company has presented free cash flow and free cash flow translation as supplemental measures of cash flow that are not required or presented in accordance with GAAP. Management believes that these measures provide relevant and useful information, which is widely used by analysts and investors as well as by our management. These measures provide management with insight into the cash generated from operations, excluding capital expenditures, and the effectiveness of that free cash flow. These measures allow management, as well as analysts and investors, to assess the Company’s ability to seize growth and investment opportunities designed to enhance shareholder value.

© 2022 Matthews International Corporation. All rights reserved.

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