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MATTHEWS INTERNATIONAL REPORTS RESULTS FOR FISCAL 2026 THIRD QUARTER

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Fiscal 2026 Third Quarter and Year-to-Date Financial Highlights:

Memorialization reports higher sales for Q3 and the nine months ended June 30, 2026 compared to last year
Product Identification sales grew 5% in Q3 compared to last year
$25 million cash received in Q3 for the redemption of preferred equity interest in Propelis
Debt was reduced by $12 million during Q3 and $144 million during fiscal 2026
Restructuring actions announced in the Engineering business that will deliver $10 million annualized savings
The Company issues revised earnings outlook for fiscal 2026
Webcast: Friday, August 7, 2026, 9:00 a.m., 785-838-9251

PITTSBURGH, Aug. 6, 2026 /PRNewswire/ — Matthews International Corporation (NASDAQ GSM: MATW) today announced financial results for its third quarter of fiscal 2026.

In discussing the results for the Company’s fiscal 2026 third quarter, Joseph C. Bartolacci, President and Chief Executive Officer, stated:

“The fiscal 2026 third quarter was a challenging quarter for us across all business segments. We continue to experience delays in the energy storage solutions business which are expected to extend through the balance of the fiscal year. Despite winning a significant new coating & converting order this quarter, the project has not contributed significantly to our financial results as of yet. In response to these challenges, we have taken difficult but necessary action to reduce the cost base of this business by $10 million annually. Additionally, our flagship Memorialization businesses continue to experience headwinds in terms of lower volumes combined with input costs escalating beyond inflationary price increases. Lastly, while the anticipated synergy benefits at The Propelis Group (“Propelis”) are now beginning to scale, our expectations of the timing to realize those synergies has not been achieved, resulting in an estimated $5 million shortfall to our full year forecast. Due to these combination of factors, we are reducing our previous earnings guidance for adjusted EBITDA to be in the range of  $158 million to $162 million (which includes our estimated 40% share of Propelis adjusted EBITDA) for fiscal 2026.”

“Despite the near-term challenges for the remainder of this fiscal year, we remain focused on driving shareholder value, including properly aligning our cost structure with the future state of our operations. Our GAAP earnings continue to be impacted by the costs associated with these efforts, however our corporate and other non-operating costs have yielded savings compared to last year, positively impacting our margins.  We continue to execute on further cost reductions to scale our structure as post-divestiture support obligations are expected to expire over the balance of the calendar year.”

“Sales for the Memorialization segment for the fiscal 2026 third quarter were higher than a year ago primarily reflecting the recent acquisition of The Dodge Company.  This acquisition continues to be nicely accretive to earnings as we leverage the benefits of our Memorialization commercial platform and have already realized the majority of targeted cost synergies. Sales volumes of caskets and cemetery memorials continued to be a headwind in the quarter due to lower estimated U.S. casketed deaths, which was compounded by escalating input costs.  Inflationary price realization only partially offset the impact of these factors on our profitability for the quarter.”

“The Industrial Technologies segment reported a decline in sales for the fiscal 2026 third quarter.  The decrease mainly resulted from the divestiture of the warehouse automation business during the fiscal first quarter of 2026 and challenges in our engineering business, including the impacts of the ongoing Tesla dispute.  During the third quarter, we initiated a restructuring program in our European engineering operations that will yield $10 million annual cost savings. We expect the total cost to achieve related to this restructuring to be approximately $10 million, of which approximately $5 million impacted third quarter results. Despite these difficult actions, we continue to focus on the long-term potential of dry electrode battery manufacturing as evidenced by launching MEODEO™, a next-generation, full-scale mass production demonstration line for dry-electrode battery manufacturing at our development center in Vreden, Germany. This facility offers our customers expanded testing capabilities from laboratory scale up to industrial gigafactory production. Our Product Identification business continues to receive significant customer interest in the MPERIA® Axian Inkjet (XIJ) systems and we are pleased to announce a strategic partnership with Linx Printing Technologies designed to broaden customer access to each company’s product portfolio in key markets, opening the opportunity for our products to reach consumer packaged goods customers in the UK and France.

“Results for Propelis have shown considerable margin improvement from the first calendar quarter to the second. The joint venture remains on track to deliver a significant portion of the estimated $60 million of identified synergy opportunities over the coming quarters. Additionally, Propelis redeemed a portion of their shareholders’ interests in the third quarter, which provided $25 million of cash to Matthews that was used primarily to bring down our debt balance.”

“Over the last two years, the Board, with the support of J.P. Morgan, identified several alternatives for evaluation and consideration toward improving shareholder value and better alignment with the underlying value of the organization.  The divestitures of SGK in 2025, and the warehouse automation and European packaging businesses in the first quarter of 2026 are all outcomes of this effort to simplify Matthews’ business structure and enhance shareholder value. The Company’s strategic alternatives review remains ongoing with a heavy focus on developing strategic partnerships for our Industrial Technologies businesses.”

Divestiture of the SGK Business

The fiscal 2025 consolidated financial information presented in this release reflects the financial results of the SGK business through the closing date.  As a result of the integration process of Propelis and transition to its stand-alone reporting systems, our 40% portion of the financial results of Propelis is reported on a one-quarter lag.  Consequently, for the three months ended June 30, 2026, the Company’s portion of earnings (losses) for its equity-method investment in Propelis includes the months from January 2026 through March 2026. For the nine months ended June 30, 2026, the Company’s portion of earnings (losses) for its equity-method investment in Propelis includes the months from July 2025 through March 2026.

The Company’s consolidated adjusted EBITDA for the fiscal third quarter of 2026 includes approximately a $10.0 million adjusted EBITDA contribution from Propelis.  Based on preliminary estimates of adjusted EBITDA provided by Propelis for the quarter ended June 30, 2026, our 40% portion of their adjusted EBITDA would be $12.7 million. The Company’s consolidated adjusted EBITDA for the fiscal nine months ended June 30, 2026 includes a $32.4 million adjusted EBITDA contribution from Propelis.  Based on preliminary financial estimates of adjusted EBITDA provided by Propelis for the period October 1, 2025 through June 30, 2026, our 40% portion of their adjusted EBITDA would be $32.2 million. Please note that these projections are unaudited and subject to review and, as a result, may change.

Webcast

The Company will host a conference call and webcast on Friday, August 7, 2026 at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. The conference call can be accessed by dialing (785)-838-9251, Conference ID: Matthews. The audio webcast can be monitored at www.matw.com. As soon as available after the call, a transcript of the call will be posted on the Investor Relations section of the Company’s website at www.matw.com

About Matthews International Corporation

Matthews International Corporation operates through two core global businesses – Industrial Technologies and Memorialization. Both are focused on driving operational efficiency and long-term growth through continuous innovation and strategic expansion. The Industrial Technologies segment evolved from our original marking business, which today is a leading global innovator committed to empowering visionaries to transform industries through the application of precision technologies and intelligent processes. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. In addition, the Company also has a significant investment in Propelis, a brand solutions business formed through the merger of SGK and SGS & Co. Propelis delivers integrated solutions including brand creative, packaging, print solutions, branded environments, and content production. Matthews International has over 4,300 employees in 15 countries on four continents that are committed to delivering the highest quality products and services.

Forward-looking Information

Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, and may be identified by the use of words such as “expects,” “believes,” “intends,” “projects,” “anticipates,” “estimates,” “plans,” “seeks,” “forecasts,” “predicts,” “objective,” “targets,” “potential,” “outlook,” “may,” “will,” “could” or the negative of these terms, other comparable terminology and variations thereof.  Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations, and no assurance can be given that such expectations will prove correct.  Factors that could cause the Company’s results to differ materially from the results discussed in such forward-looking statements principally include risks to our ability to achieve the anticipated benefits of the joint venture transaction with Peninsula Parent LLC, d.b.a. Propelis Group (“Propelis”), changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company’s products, including changes in costs due to adjustments to tariffs or supply chain disruptions, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company’s operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company’s acquisitions, divestitures, and business combinations, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company’s internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company’s control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine and hostilities in the Middle East, and conflicts and related sanctions or trade restrictions involving Venezuela, the Company’s plans and expectations with respect to its exploration, and contemplated execution, of various strategies with respect to its portfolio of businesses, the Company’s plans and expectations with respect to its Board of Directors, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In thousands, except per share data)

Three Months Ended
June 30,

Nine Months Ended
June 30,

2026

2025

% Change

2026

2025

% Change

Sales

$ 246,016

$ 349,377

(29.6) %

$ 789,398

$              1,178,848

(33.0) %

 Cost of sales

(157,824)

(227,421)

(30.6) %

(499,549)

(787,088)

(36.5) %

 Gross profit

88,192

121,956

(27.7) %

289,849

391,760

(26.0) %

  Gross margin

35.8 %

34.9 %

36.7 %

33.2 %

 Selling and administrative expenses

(99,144)

(100,394)

(1.2) %

(310,076)

(343,616)

(9.8) %

 Amortization of intangible assets

(2,503)

(3,474)

(28.0) %

(8,143)

(16,362)

(50.2) %

 Gain on divestitures, net

234

57,103

(99.6) %

109,498

55,031

99.0 %

 Operating (loss) profit

(13,221)

75,191

(117.6) %

81,128

86,813

(6.5) %

  Operating margin

(5.4) %

21.5 %

10.3 %

7.4 %

 Interest and other deductions, net

(10,422)

(16,327)

(36.2) %

(32,061)

(45,423)

(29.4) %

 Loss on debt extinguishment

NM

(16,343)

NM

(Loss) income before income taxes

(23,643)

58,864

(140.2) %

32,724

41,390

(20.9) %

 Income taxes

(46)

(43,477)

(99.9) %

(34,618)

(38,391)

(9.8) %

Net (loss) income

$ (23,689)

$  15,387

NM

$   (1,894)

$    2,999

NM

(Loss) earnings per share — diluted

$    (0.75)

$     0.49

NM

$    (0.06)

$     0.10

NM

Earnings per share — non-GAAP (1)

$     0.06

$     0.28

(78.6) %

$     0.24

$     0.76

(68.4) %

Dividends declared per share

$    0.255

$     0.25

2.0 %

$    0.765

$     0.75

2.0 %

Diluted Shares

31,438

31,425

31,353

31,408


(1) See reconciliation of non-GAAP financial information provided in tables at the end of this release

NM: Not meaningful

 

SEGMENT INFORMATION (Unaudited)
(In thousands)

Three Months Ended
June 30,

Nine Months Ended
June 30,

2026

2025

2026

2025

Sales:

Memorialization

$        208,060

$        203,728

$        627,492

$        599,834

Industrial Technologies

37,956

87,901

150,333

249,269

Brand Solutions

57,748

11,573

329,745

$        246,016

$        349,377

$        789,398

$     1,178,848

Adjusted EBITDA:

Memorialization

$         42,248

$         42,801

$        130,028

$        124,451

Industrial Technologies

(5,434)

9,047

(13,205)

16,921

Brand Solutions

9,700

5,004

32,009

32,892

Corporate and Non-Operating

(11,541)

(12,302)

(33,877)

(38,277)

Total Adjusted EBITDA (1)

$         34,973

$         44,550

$        114,955

$       135,987

(1) See reconciliation of non-GAAP financial information provided in tables at the end of this release

 

CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION (Unaudited)
(In thousands)

June 30, 2026

September 30, 2025

ASSETS

Cash and cash equivalents

$               37,602

$               32,433

Accounts receivable, net

105,755

132,940

Inventories, net

203,430

202,827

Other current assets

137,688

151,968

Total current assets

484,475

520,168

Investments

246,500

288,637

Property, plant and equipment, net

176,221

224,575

Goodwill

438,824

487,561

Other intangible assets, net

89,476

105,958

Other long-term assets

70,020

67,543

Total assets

$            1,505,516

$            1,694,442

LIABILITIES

Long-term debt, current maturities

$                 7,812

$                 7,230

Other current liabilities

268,079

343,250

Total current liabilities

275,891

350,480

Long-term debt

559,451

703,602

Other long-term liabilities

184,206

159,418

Total liabilities

1,019,548

1,213,500

SHAREHOLDERS’ EQUITY

Total shareholders’ equity

485,968

480,942

Total liabilities and shareholders’ equity

$            1,505,516

$            1,694,442

 

CONDENSED CONSOLIDATED CASH FLOWS INFORMATION (Unaudited)
(In thousands)

Nine Months Ended June 30,

2026

2025

Cash flows from operating activities:

Net (loss) income

$               (1,894)

$                2,999

Adjustments to reconcile net (loss) income to net cash flows from operating activities:

Depreciation and amortization

35,858

56,571

Gain on divestitures, net

(109,498)

(55,031)

Loss on debt extinguishment

16,343

Changes in working capital items

(46,142)

(50,559)

Other operating activities

35,786

12,139

Net cash used in operating activities

(69,547)

(33,881)

Cash flows from investing activities:

Capital expenditures

(13,323)

(26,390)

Acquisitions, net of cash acquired

(524)

(57,842)

Proceeds from sale of assets

10,061

14,927

Proceeds from divestitures

243,647

230,053

Other investing activities

27,580

(7,499)

Net cash provided by investing activities

267,441

153,249

Cash flows from financing activities:

Net payments on from long-term debt

(146,425)

(70,292)

Purchases of treasury stock

(5,777)

(12,122)

Dividends

(25,561)

(24,740)

Other financing activities

(14,740)

(32,286)

Net cash used in financing activities

(192,503)

(139,440)

Effect of exchange rate changes on cash

(222)

(361)

Net change in cash and cash equivalents

$                5,169

$             (20,433)

Reconciliations of Non-GAAP Financial Measures 

Included in this report are measures of financial performance that are not defined by GAAP, including, without limitation, adjusted EBITDA, adjusted net income and EPS, constant currency sales, constant currency adjusted EBITDA, net debt and net debt leverage ratio. The Company defines net debt leverage ratio as outstanding debt (net of cash) relative to adjusted EBITDA. The Company uses non-GAAP financial measures to assist in comparing its performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect the Company’s core operations including acquisition and divestiture costs, ERP system integration costs, strategic initiative and other charges (which includes non-recurring charges related to certain commercial and operational initiatives and exit activities), stock-based compensation and the non-service portion of pension and postretirement expense.  Constant currency sales and constant currency adjusted EBITDA remove the impact of changes due to foreign exchange translation rates.  To calculate sales and adjusted EBITDA on a constant currency basis, amounts for periods in the current fiscal year are translated into U.S. dollars using exchange rates applicable to the comparable periods of the prior fiscal year.  Management believes that presenting 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 the Company’s core operations, (ii) permits investors to view performance using the same tools that management uses to budget, forecast, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating the Company’s results. The Company’s calculations of its non-GAAP financial measures, however, may not be comparable to similarly titled measures reported by other companies. The Company believes that the presentation of these non-GAAP financial measures, when considered together with the corresponding GAAP financial measures and the reconciliations to those measures, provided herein, provide investors with an additional understanding of the factors and trends affecting the Company’s business that could not be obtained absent these disclosures.

ADJUSTED EBITDA RECONCILIATION (Unaudited)
(In thousands)

Three Months Ended
June 30,

Nine Months Ended
June 30,

2026

2025

2026

2025

Net (loss) income

$       (23,689)

$        15,387

$        (1,894)

$    2,999

Income tax provision

46

43,477

34,618

38,391

(Loss) income before income taxes

$       (23,643)

$        58,864

$        32,724

$   41,390

Propelis depreciation, amortization, interest and
other items (1)

15,634

49,613

Interest expense, including RPA and factoring
financing fees (2)

10,800

16,804

36,525

50,668

Loss on debt extinguishment

16,343

Depreciation and amortization *

11,654

15,836

35,858

56,571

Acquisition and divestiture related items (3)**

337

(9,473)

1,649

4,805

Strategic initiatives and other items (4)**†

15,333

10,315

36,977

16,303

Gain on divestitures, net

(234)

(57,103)

(109,498)

(55,031)

Highly inflationary accounting losses (primarily non-cash) (5)

325

16

1,036

Stock-based compensation

5,054

8,841

14,597

19,838

Non-service pension and postretirement expense (6)

38

141

151

407

Total Adjusted EBITDA

$        34,973

$        44,550

$      114,955

$ 135,987

Adjusted EBITDA margin

14.2 %

12.8 %

14.6 %

11.5 %

(1) Represents the Company’s portion of depreciation, intangible amortization, interest expense, and other items incurred by Propelis.

(2) Includes fees for receivables sold under the RPA and factoring arrangements totaling $380 and $974 for the three months ended June 30, 2026 and 2025, respectively  and $1,430 and $3,291 for the nine months ended June 30, 2026 and 2025, respectively.

(3) Includes certain non-recurring items associated with recent acquisition and divestiture activities.

(4) Includes certain non-recurring costs associated with commercial, operational and cost-reduction initiatives, and costs associated with global ERP system integration efforts.  Also includes litigation costs related to an ongoing dispute with Tesla, Inc. (“Tesla”), which totaled $7,772 and $5,795 for the three months ended June 30, 2026 and 2025, respectively and $18,944 and $14,419 for the nine months ended June 30, 2026 and 2025, respectively.  Fiscal 2025 includes costs related to the Company’s 2025 contested proxy which totaled $207 for the three months ended June 30, 2025 and $5,109 for the nine months ended June 30, 2025.  Fiscal 2025 includes net gains on the sales of certain significant property and other assets of $8,655 for the nine months ended June 30, 2025.  Fiscal 2025 also includes loss recoveries totaling $538 for the three months ended June 30, 2025 and $1,708 for the nine months ended June 30, 2025 which were related to a previously disclosed theft of funds by a former employee initially identified in fiscal 2015. 

(5) Represents exchange losses associated with highly inflationary accounting related to certain Turkish subsidiaries which were recently divested.

(6) Non-service pension and postretirement expense includes interest cost, expected return on plan assets, amortization of actuarial gains and losses, curtailment gains and losses, and settlement gains and losses. These benefit cost components are excluded from adjusted EBITDA since they are primarily influenced by external market conditions that impact investment returns and interest (discount) rates. Curtailment gains and losses and settlement gains and losses are excluded from adjusted EBITDA since they generally result from certain non-recurring events, such as plan amendments to modify future benefits or settlements of plan obligations.  The service cost and prior service cost components of pension and postretirement expense are included in the calculation of adjusted EBITDA, since they are considered to be a better reflection of the ongoing service-related costs of providing these benefits. Please note that GAAP pension and postretirement expense or the adjustment above are not necessarily indicative of the current or future cash flow requirements related to these employee benefit plans.

* Depreciation and amortization was $7,985 and $7,394 for the Memorialization segment, $3,105 and $5,489 for the Industrial Technologies segment, and $564 and $596 for Corporate and Non-Operating, for the three months ended June 30, 2026 and 2025, respectively. Depreciation and amortization was $24,173 and $21,766 for the Memorialization segment, $9,549 and $16,807 for the Industrial Technologies segment, $609 and $15,935 for the Brand Solutions segment, and $1,527 and $2,063 for Corporate and Non-Operating, for the nine months ended June 30, 2026 and 2025, respectively.   Depreciation and amortization was $2,357 for the Brand Solutions segment for the three months ended June 30, 2026.

** Acquisition costs, ERP system integration costs, and strategic initiatives and other charges were $1 and $552 for the Memorialization segment, $13,239 and $9,079 for the Industrial Technologies segment, $126 and $1,692 for the Brand Solutions segment, and $2,304 and income of $10,481 for Corporate and Non-Operating, for the three months ended June 30, 2026 and 2025, respectively. Acquisition costs, ERP system integration costs, and strategic initiatives and other charges were $450 and $4,265 for the Memorialization segment, $26,331 and $13,390 for the Industrial Technologies segment, $3,621 and $2,822 for the Brand Solutions segment, and $8,224 and $631 for Corporate and Non-Operating, for the nine months ended June 30, 2026 and 2025, respectively.

† Strategic initiatives and other items includes charges for exit and disposal activities (including severance and other employee termination benefits) totaling expenses of $6,722 and $2,438 for the three months ended June 30, 2026 and 2025, respectively, and expenses of $9,027 and $1,133 for the nine months ended June 30, 2026 and 2025, respectively.

 

ADJUSTED NET INCOME AND EPS RECONCILIATION (Unaudited)
(In thousands, except per share data)

Three Months Ended
June 30,

Nine Months Ended
June 30,

2026

2025

2026

2025

per share

per share

per share

per share

Net (loss) income attributable to
Matthews

$ (23,689)

$  (0.75)

$  15,387

$   0.49

$  (1,894)

$  (0.06)

$    2,999

$   0.10

Acquisition and divestiture costs (1)

2,998

0.09

(6,901)

(0.22)

3,954

0.13

5,807

0.19

Strategic initiatives and other
charges (2)

12,888

0.41

10,615

0.33

30,402

0.97

14,516

0.45

Gain on divestitures, net

(234)

(0.01)

(14,155)

(0.45)

(68,685)

(2.19)

(14,155)

(0.45)

Highly inflationary accounting
losses (primarily non-cash) (3)

325

0.01

16

1,036

0.03

Non-service pension and
postretirement expense (4)

28

106

113

305

0.01

Amortization

1,877

0.06

2,605

0.08

6,107

0.19

12,271

0.39

Loss on debt extinguishment

12,242

0.39

Propelis amortization and other
unusual items (5)

8,006

0.26

25,256

0.81

Tax related (6)

1,207

0.04

1,207

0.04

Adjusted net income

$    1,874

$   0.06

$    9,189

$   0.28

$    7,511

$   0.24

$  23,986

$   0.76

Note:  Adjustments to net income for non-GAAP reconciling items were calculated using an income tax rate of 10.8% and 90.2% for the three and nine months ended June 30, 2026, respectively, and 18.2% and 23.7% for the three and nine months ended June 30, 2025, respectively.

(1) Includes certain non-recurring items associated with recent acquisition and divestiture activities.

(2) Includes certain non-recurring costs associated with commercial, operational and cost-reduction initiatives, and costs associated with global ERP system integration efforts.  Also includes litigation costs related to an ongoing dispute with Tesla, Inc. (“Tesla”), which totaled $7,772 and $5,795 for the three months ended June 30, 2026 and 2025, respectively and $18,944 and $14,419 for the nine months ended June 30, 2026 and 2025, respectively.  Fiscal 2025 includes costs related to the Company’s 2025 contested proxy which totaled $207 for the three months ended June 30, 2025 and $5,109 for the nine months ended June 30, 2025.  Fiscal 2025 includes net gains on the sales of certain significant property and other assets of $8,655 for the nine months ended June 30, 2025.  Fiscal 2025 also includes loss recoveries totaling $538 for the three months ending June 30, 2025 and $1,708 for the nine months ended June 30, 2025 which were related to a previously disclosed theft of funds by a former employee initially identified in fiscal 2015. 

(3) Represents exchange losses associated with highly inflationary accounting related to certain Turkish subsidiaries which were recently divested.

(4) Non-service pension and postretirement expense includes interest cost, expected return on plan assets, amortization of actuarial gains and losses, curtailment gains and losses, and settlement gains and losses. These benefit cost components are excluded from adjusted EBITDA since they are primarily influenced by external market conditions that impact investment returns and interest (discount) rates. Curtailment gains and losses and settlement gains and losses are excluded from adjusted EBITDA since they generally result from certain non-recurring events, such as plan amendments to modify future benefits or settlements of plan obligations.  The service cost and prior service cost components of pension and postretirement expense are included in the calculation of adjusted EBITDA, since they are considered to be a better reflection of the ongoing service-related costs of providing these benefits. Please note that GAAP pension and postretirement expense or the adjustment above are not necessarily indicative of the current or future cash flow requirements related to these employee benefit plans.

(5) Represents the Company’s portion of amortization and other items incurred by Propelis.

(6) Represents tax-related items incurred in connection with assets the Company previously wrote off in Russia.

 

CONSTANT CURRENCY SALES AND ADJUSTED EBITDA RECONCILIATION (Unaudited)
(In thousands)

Memorialization

Industrial
Technologies

Brand Solutions

Corporate and
Non-Operating

Consolidated

Reported sales for the quarter
ended June 30, 2026

$         208,060

$          37,956

$               —

$               —

$         246,016

Changes in foreign exchange
translation rates

(457)

(254)

(711)

Constant currency sales for the
quarter ended June 30, 2026

$         207,603

$          37,702

$               —

$               —

$         245,305

Reported sales for the nine months
ended June 30, 2026

$         627,492

$         150,333

$          11,573

$               —

$         789,398

Changes in foreign exchange
translation rates

(1,973)

(6,232)

(8,205)

Constant currency sales for the
nine months ended June 30, 2026

$         625,519

$         144,101

$          11,573

$               —

$         781,193

Reported adjusted EBITDA for the
quarter ended June 30, 2026

$          42,248

$          (5,434)

$           9,700

$         (11,541)

$          34,973

Changes in foreign exchange
translation rates

(80)

277

350

(121)

426

Constant currency adjusted
EBITDA for the quarter ended
June 30, 2026

$          42,168

$          (5,157)

$          10,050

$         (11,662)

$          35,399

Reported adjusted EBITDA for the
nine months ended June 30, 2026

$         130,028

$         (13,205)

$          32,009

$         (33,877)

$         114,955

Changes in foreign exchange
translation rates

(248)

706

50

(191)

317

Constant currency adjusted
EBITDA for the nine months ended
June 30, 2026

$         129,780

$         (12,499)

$          32,059

$         (34,068)

$         115,272

 

NET DEBT RECONCILIATION (Unaudited)
(Dollars in thousands)

June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

Long-term debt, current maturities

$                7,812

$                7,298

$                7,271

$                7,230

Long-term debt

559,451

571,950

529,756

703,602

Total debt

567,263

579,248

537,027

710,832

Less: Cash and cash equivalents

(37,602)

(36,088)

(31,357)

(32,433)

Net Debt

$             529,661

$             543,160

$             505,670

$             678,399

 

Contact:

Daniel E. Stopar

Chief Financial Officer and Treasurer

Phone: (412) 442-8200

View original content to download multimedia:https://www.prnewswire.com/news-releases/matthews-international-reports-results-for-fiscal-2026-third-quarter-302845417.html

SOURCE Matthews International Corporation

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As Enterprises Rush to Autonomous Security, New Omdia Market Update Points to Practitioner Governance as the Differentiator

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A 2026 market update to Omdia’s technical validation examines managed agentic SOC delivery on Google Security Operations, finding that governance, not autonomy, is what separates measurable outcomes from AI hype.

OVERLAND PARK, Kan., Aug. 6, 2026 /PRNewswire/ — As organizations move quickly to adopt autonomous, AI-driven security operations, a new 2026 market update from Omdia finds that the adoption of agentic AI is outpacing the governance meant to control it. Fifty-two percent of organizations with security operations centers already deploy agentic AI, yet only 25 percent formally assess every agentic AI investment, even as these systems take autonomous action. The update, produced by Omdia’s Go-to-Market Insights and Advisory practice, extends its technical validation of Foresite Cybersecurity’s managed security operations on Google Security Operations (SecOps).

Read the Omdia technical validation at foresite.com →

New Omdia validation: Foresite’s governed agentic SOC cuts investigation time by ~60%.

The market update examines a shift now visible across the enterprise: security teams are absorbing surging data volumes without adding investigation load, and it points to practitioner-governed, human-in-the-loop accountability as the factor separating durable outcomes from tool sprawl. 

Reviewing Foresite’s security operations data, Omdia validated several key performance gains that demonstrate the platform’s ability to scale analyst effectiveness and deliver governed autonomy:

A ~60% reduction in mean time to investigate (MTTI), accelerating the speed of response.

A flat investigation load even as raw telemetry data surged by 278%, proving the system’s capacity to handle growth without overburdening analysts.

An increase in benign-event auto-identification from 25% to 86%, demonstrating the accuracy of the automation and allowing analysts to focus on critical threats.

Foresite operates as the human control layer for AI-driven security, pairing Google’s agentic investigation capabilities with named-practitioner accountability. Every autonomous investigation is reviewed and authorized by a named analyst before response actions execute, giving customers clear visibility into how decisions are made and risk is managed. Autonomous investigation runs at machine speed while a practitioner validates every high-impact action, so agentic never means uncontrolled.

“The speed of agentic adoption is outrunning the oversight meant to govern it. Organizations are deploying these systems faster than they are assessing them. Foresite’s approach, autonomous investigation at machine speed with a named practitioner accountable for every high-impact action, is a practical answer to that gap,” said Tony Palmer, Principal Analyst and Practice Director, Omdia.

“Autonomous investigation runs at machine speed. The actions you can’t take back are validated by a named practitioner before they execute. That is the difference between an agent you can govern and one you are simply told to trust,” said Jeremy Hehl, Chief Evangelist at Foresite.

Foresite delivers fully managed security operations on Google SecOps, enabling customers to detect and respond to threats in seconds, reduce investigation fatigue, and maintain continuous audit readiness without expanding internal teams. As a Google Cloud Premier Partner with Security and MSSP specializations, the company delivers managed services through its Catalyst platform, extending Google SecOps with operational governance, automation, and continuous compliance.

The market update follows Foresite being named the 2026 Google Cloud Security Partner of the Year for North America, presented at Google Cloud Next ’26, and builds on Omdia’s original technical validation of the Catalyst platform commissioned by Google in 2025. Across its managed services, and validated in the Omdia update, Foresite reduced mean time to investigate by roughly 60 percent while sustaining 96 percent customer retention and sub-15-second automated threat response.

Foresite representatives will be at Black Hat USA 2026 in Las Vegas, including a happy hour co-hosted with Google and Jeremy Hehl’s appearance on the EC-Council podcast with Jay Bavisi..

About Foresite Cybersecurity

Foresite Cybersecurity is a Google Cloud Premier Partner, and a Wiz Premier Partner providing managed security operations, compliance automation, and threat intelligence services. Through its Catalyst platform, Foresite helps organizations operationalize agentic AI security with practitioner-led governance and measurable risk reduction. Learn more at foresite.com.

Media Contacts

Claire Simpson, Director of Brand and Marketing

Tim Suwandhaputra, VP, Go-to-Market

press@foresite.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/as-enterprises-rush-to-autonomous-security-new-omdia-market-update-points-to-practitioner-governance-as-the-differentiator-302845534.html

SOURCE Foresite

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Cogeco Communications Announces $200 Million Reopening of Senior Secured Notes due 2033

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

MONTRÉAL, Aug. 6, 2026 /CNW/ — Cogeco Communications Inc. (TSX: CCA) (“Cogeco Communications” or the “Corporation”) announced today that it has priced an offering of an additional $200 million aggregate principal amount of its 5.299% senior secured notes due February 16, 2033 (the “Notes”).

The Notes will have identical terms (except for their date of issue, issue price, matters relating to the resale restriction and temporary security identifiers) and be fully fungible with and form a single series with the $300 million aggregate principal amount of 5.299% senior secured notes issued by the Corporation on February 16, 2023. The Notes will be issued at a price of 103.966% of their face value (plus accrued interest from February 16, 2026), for a reopening yield of 4.565%.

The Notes are being offered through an agency syndicate consisting of BMO Nesbitt Burns Inc., CIBC World Markets Inc. and National Bank Financial Inc., as joint bookrunners and co-lead managers, and including Merrill Lynch Canada Inc., Desjardins Securities Inc., RBC Dominion Securities Inc., MUFG Securities (Canada), Ltd., TD Securities Inc. and Casgrain & Company Limited, as co-managers.

The offering is expected to close on or about August 10, 2026, subject to customary closing conditions. Cogeco Communications intends to use the net proceeds of the offering to repay existing indebtedness and for other general corporate purposes.

The Notes will be direct and unsubordinated secured debt obligations of Cogeco Communications and will rank equally and pari passu, with all other secured senior indebtedness of Cogeco Communications.

The Notes have been assigned a provisional rating of “BBB (low)” from DBRS Limited (DBRS Morningstar) with a “Stable” trend and a provisional rating of “BBB-” from Standard & Poor’s Ratings Services. The Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation.

The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy any securities in any jurisdiction where it is unlawful to do so.

ABOUT COGECO COMMUNICATIONS INC.

Cogeco Communications Inc. is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline and welo brands in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Communications, future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”; “ensure” or other similar expressions concerning matters that are not historical facts. Particularly, statements with respect to the offering of Notes and the intended timing and completion thereof, and the expected use of the net proceeds of the offering of Notes, are forward-looking statements. These statements are based on certain factors and assumptions including expected satisfaction or waiver of the conditions to closing the offering of Notes on the expected timeline, which Cogeco Communications believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco Communications currently expects. These factors include risks such as the failure to satisfy the conditions to the completion of the offering of Notes, as well as general market conditions, competitive risks (including changing competitive and technology ecosystems and disruptive competitive strategies adopted by our competitors), business risks, regulatory risks (including changes in laws or government policies and the impact of regulatory decisions, such as those of the Canadian Radio-television and Telecommunications Commission in Canada or of the Federal Communications Commission in the U.S.), tax risks, technology risks (including the evolution of technology and the threat of cybersecurity), financial risks (including variations in currency and interest rates), economic conditions (including inflation, trade tariffs, reduced consumer spending and increasing costs), talent management risks (including the highly competitive market for a limited pool of digitally skilled employees), human-caused and natural threats to the Corporation’s network (including increased frequency of extreme weather events with the potential to disrupt operations), infrastructure and systems, sustainability and sustainability reporting risks, ethical behavior risks, ownership risks, litigation risks and public health and safety, many of which are beyond the Corporation’s control. For more exhaustive information on these risks and uncertainties, the reader should refer to the “Uncertainties and main risk factors” section of the Corporation’s fiscal 2025 annual Management’s Discussion and Analysis (“MD&A”) and of the fiscal 2026 third-quarter MD&A. The closing of the offering is subject to general market and other conditions and there can be no assurance that the offering will be completed or that the terms of the offering will not be modified. These factors are not intended to represent a complete list of the factors that could affect Cogeco Communications and future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release and the forward-looking statements contained in this press release represent Cogeco Communications’ expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While management may elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law. All amounts are stated in Canadian dollars unless otherwise indicated.

INFORMATION:

Patrice Ouimet

Troy Crandall

Chief Financial Officer

Head, Investor Relations

Cogeco Communications Inc.

Cogeco Communications Inc.

(514) 764-4700

(514) 764-4600

patrice.ouimet@cogeco.com

troy.crandall@cogeco.com

SOURCE Cogeco Communications Inc.

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New Study Ranks 68 Third-Party Risk Management Platforms

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New research maps 68 third-party risk management platforms in one ranked, source-linked comparison: what compliance really costs in 2026, who publishes prices, who actually scans vendors and what the first Gartner Magic Quadrant for TPRM left out. The full ranking and all 911 sources are free to read.

ATHENS, Greece, Aug. 6, 2026 /PRNewswire-PRWeb/ — Research agency SocialActive today announced The TPRM Platform Landscape 2026, a 78-page ranked comparison of 68 third-party risk management (TPRM) platforms, compiled from 911 publicly archived sources and free to read.

“Only 17 of the 68 platforms publish a price, and 43 never technically examine the vendors they assess. Buyers have been building shortlists in the dark.”

Third-party risk management became a regulated obligation for hundreds of thousands of European organisations when the EU’s DORA regulation began applying in January 2025 and as NIS2 transposition reached 22 of 27 member states by May 2026. The study examines the software market that serves that obligation, from free open-source tools to enterprise suites estimated at more than USD 1 million per year, and ranks all 68 platforms through a stated buyer lens: nine criteria, listed in descending order of weight and drawn from a 20-criterion evaluation framework, so a reader whose priorities differ can rebuild the shortlist from the same evidence. The report’s reference buyer is a European organisation of roughly 20 to 1,000 employees managing 10 to 150 vendors without a dedicated risk team; a separate shortlist covers enterprises above that range.

Key findings include:

Pricing opacity is the market norm. Only 17 of the 68 platforms publish a real price anywhere public; the remaining 51 quote prices only after a sales process. Published annual entry prices alone span EUR 1,020 to USD 125,000.The cost spread for the same need remains wide. Published prices for TPRM tooling alone span EUR 1,500 to USD 125,000 per year, and for a 120-employee manufacturer needing NIS2 and ISO 27001 coverage with vendor oversight, documented three-year totals range from roughly EUR 20,000 on published EU pricing to USD 150,000 and above on estimated enterprise deployments.External verification is rare. Roughly 43 of the 68 platforms offer no external technical scanning of the vendors they assess, 14 license partner ratings feeds, and 11 operate something native. Exactly one, the EU platform StartComply, bundles active scanning of each vendor’s domain into an SMB-priced TPRM subscription, published at EUR 1,500 per year.The 2026 analyst landscape has blind spots. Gartner’s first Magic Quadrant for TPRM Tools (April 2026) and Forrester’s Q1 2026 Wave exclude the security-ratings vendors and the entire affordable EU segment, so smaller European buyers cannot outsource their shortlist to either report.Ownership is unstable. The study documents twelve acquisitions, rebrands and funding events between 2023 and 2026 that changed vendors’ names, owners or sovereignty status, including one platform whose Dutch-ownership story ended overnight with a US acquisition, and one vendor whose operating company could not be independently verified at all.

Every material claim in the report carries a source link or an explicit label (public price, estimate, vendor-claimed, or not found), conflicts between sources are stated rather than smoothed over, and the report publishes a standing corrections policy: any vendor that believes a fact is wrong is invited to submit the primary source, and corrections are applied with a dated note.

“We wrote the study we could not find anywhere: every platform, every price we could document, and every claim labelled for what it is. We state the lens and the weighting openly, so a reader who ranks the criteria differently can rebuild the shortlist from the same evidence,” said Andreas Kougentakos, Founder at SocialActive.

The full report, the 68-platform master registry, the comparison tables and the full set of charts are available free of charge at https://socialactivecom.substack.com/p/tprm-platform-comparison.

About SocialActive

SocialActive is an award-winning B2B marketing and research agency based in Greece. Its research publications use public sources only, label every figure by evidence type, and publish their criteria and sources in full.

Media Contact

Andreas Kougentakos, SocialActive, 30 6985944467, press@socialactive.com, socialactive.com

View original content to download multimedia:https://www.prweb.com/releases/new-study-ranks-68-third-party-risk-management-platforms-302844679.html

SOURCE SocialActive

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