Matthews (NASDAQ: MATW) reported Q1 EPS of $0.50, $0.07 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $374.2 million versus the consensus estimate of $372.66 million.

• Company re-affirms earnings targets for fiscal 2019
• Consolidated sales of $374.2 million, up $4.7 million over last year
• GAAP EPS of $0.10; non-GAAP EPS of $0.50
• Adjusted EBITDA of $46.5 million
• Cash flow from operations higher than a year ago

Outlook

Mr. Bartolacci further stated: “We are maintaining our earnings outlook for the full fiscal year. Although each of our segments experienced some customer project delays in the first quarter, we still expect these projects to be completed during this fiscal year. In addition, order rates for warehouse automation systems in our Industrial Technologies segment and for engineered solutions in our SGK Brand Solutions segment remain solid. We also expect that recent new brand account wins will contribute to our results.

"We remain cautious, however, as commodity cost increases will continue to offset some of these benefits. In addition, our Industrial Technologies segment experienced a slowing during the recent quarter in product identification order rates. We also continue to expect a higher consolidated income tax rate in fiscal 2019 as tax benefits discrete to fiscal 2018 will not repeat.

"As a result, based on our current projections, we are maintaining our targets to achieve growth in adjusted EBITDA in the mid-to-high single digit percentage range over fiscal 2018 and growth in non-GAAP earnings per share in the mid-single digit percentage range over fiscal 2018. In addition, we continue to expect to generate higher operating cash flow in fiscal 2019.”

For earnings history and earnings-related data on Matthews (MATW) click here.