Latest news with #MattrCorp
Toronto Star
5 days ago
- Business
- Toronto Star
Mattr Announces Second Quarter 2025 Results
TORONTO, Aug. 13, 2025 (GLOBE NEWSWIRE) — Mattr Corp. ('Mattr' or the 'Company') (TSX: MATR) reported today its operational and financial results for the three and six months ended June 30, 2025. This press release should be read in conjunction with the Company's Management Discussion and Analysis ('MD&A') and interim consolidated financial statements for the six months ended June 30, 2025, which are available on the Company's website and at
Globe and Mail
20-05-2025
- Business
- Globe and Mail
Mattr Reports Voting Results From Annual Meeting
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. ('Mattr' or the 'Company') (TSX: MATR) announced today in accordance with Toronto Stock Exchange requirements, the voting results from its Annual Meeting held May 15, 2025 in Toronto, Ontario. A total of 43,559,302 common shares were voted at the meeting representing 69.87% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: Name of Nominee % of Votes For % of Votes Against Laura A. Cillis 99.93 0.07 Kathleen J. Hall 99.86 0.14 Alan R. Hibben 99.84 0.16 Kevin L. Nugent 98.26 1.74 Michael Reeves 99.93 0.07 Kathy Rethy 99.70 0.30 Marvin Riley 99.77 0.23 'I appreciate the continued strong support of Mattr's shareholders for both our strategic direction and our experienced team of Directors who provide invaluable governance oversight,' said Mike Reeves, Mattr's President and CEO. 'With output expanding from our recently established production facilities, strong customer adoption of our newly developed technologies and meaningful growth opportunities for the recently acquired AmerCable business, I believe Mattr is well positioned to deliver accelerating shareholder returns over the coming years.' Detailed voting results for the meeting are available on SEDAR+ at About Mattr Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Connection Technologies and Composite Technologies, enable responsible renewal and enhancement of critical infrastructure. For further information, please contact: Meghan MacEachern VP, Investor Relations & External Communications Telephone: 437.341.1848 Email: Website: Source: Mattr Corp.
Yahoo
20-05-2025
- Business
- Yahoo
Mattr Reports Voting Results From Annual Meeting
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. ('Mattr' or the 'Company') (TSX: MATR) announced today in accordance with Toronto Stock Exchange requirements, the voting results from its Annual Meeting held May 15, 2025 in Toronto, Ontario. A total of 43,559,302 common shares were voted at the meeting representing 69.87% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows: Name of Nominee % of Votes For % of Votes Against Laura A. Cillis 99.93 0.07 Kathleen J. Hall 99.86 0.14 Alan R. Hibben 99.84 0.16 Kevin L. Nugent 98.26 1.74 Michael Reeves 99.93 0.07 Kathy Rethy 99.70 0.30 Marvin Riley 99.77 0.23 'I appreciate the continued strong support of Mattr's shareholders for both our strategic direction and our experienced team of Directors who provide invaluable governance oversight,' said Mike Reeves, Mattr's President and CEO. 'With output expanding from our recently established production facilities, strong customer adoption of our newly developed technologies and meaningful growth opportunities for the recently acquired AmerCable business, I believe Mattr is well positioned to deliver accelerating shareholder returns over the coming years.' Detailed voting results for the meeting are available on SEDAR+ at About Mattr Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Connection Technologies and Composite Technologies, enable responsible renewal and enhancement of critical infrastructure. For further information, please contact: Meghan MacEachernVP, Investor Relations & External CommunicationsTelephone: 437.341.1848Email: Source: Mattr in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Mattr Corp (MTTRF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth Amid Market Challenges
Revenue from Continuing Operations: $320.1 million, a 52% increase year-over-year. Adjusted EBITDA from Continuing Operations: $46.6 million, an 80% increase year-over-year. Connection Technologies Segment Revenue: $187.3 million, 106% higher than the prior year. Composite Technologies Segment Revenue: $132.8 million, an 11% increase year-over-year. Cash Used in Operating Activities: $5.9 million, primarily due to increased investment in working capital. Cash Used in Investing Activities: $406.9 million, mainly reflecting the acquisition of AmerCable. Net Debt: $562.8 million as of March 31, 2025. Net Debt to Adjusted EBITDA Ratio: 3.6 times, including lease liabilities. Thermotite Business Revenue: $23 million with adjusted EBITDA margins of 32%. Capital Expenditures: $11.6 million, with $24.1 million of cash deployed. Warning! GuruFocus has detected 2 Warning Signs with MTTRF. Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Mattr Corp (MTTRF) reported a 52% year-over-year increase in revenue and an 80% rise in adjusted EBITDA for Q1 2025, showcasing strong business performance. The acquisition of AmerCable has been successfully integrated, contributing significantly to the Connection Technologies segment's revenue growth. The company has a strong balance sheet, enabling it to navigate market uncertainties confidently and continue investing in technology development and operational efficiencies. Mattr Corp's ShawFlex business is well-positioned to benefit from a resurgence in nuclear power generation, with significant growth potential in the nuclear sector. The Composite Technologies segment saw an 11% increase in revenue, driven by increased demand for Xerxes fuel storage and water management products, as well as higher sales of Flexpipe products. Geopolitical uncertainties and potential US tariffs have created an uncertain outlook for global trade, impacting customer confidence and potentially affecting future demand. Mattr Corp anticipates a sequential decline in revenue and adjusted EBITDA in Q2 2025 due to macroeconomic uncertainties and potential tariff impacts. The company faces challenges with order delays from overseas customers, particularly affecting AmerCable's exports to countries like Canada, Chile, and China. The Connection Technologies segment experienced tempered margins due to nearly $3 million in non-capitalizable MEO costs during the quarter. Flexpipe's revenue was modestly below the first quarter of 2024, and the company expects further deceleration in North American onshore well completions due to volatile crude oil prices. Q: Can you quantify the impact of pull-forward demand from the composite division on sales and EBITDA? A: Tom Holloway, CFO, explained that the pull-forward impact on EBITDA was around $4 million for the total corporation, mostly in the Composite segment. This pull-forward will affect Q2 results, but the market remains uncertain, so further guidance was not provided. Q: Is there an update on the 7 to 8-inch line launch later this year, and any initial customer interest? A: Michael Reeves, CEO, confirmed strong customer interest. The equipment is being commissioned, and production is expected to start by the end of the year, with full commercial availability in 2026. Q: How do you expect the connection technologies facilities to perform compared to the composite facilities launched last year? A: Tom Holloway, CFO, noted that the connection technologies facilities are largely replacements with more modernization, so they are not expected to face the same fixed cost absorption issues. Minor issues may occur in Ohio, but none are expected in ShawFlex. Q: Can you provide tangible insights into medium voltage commercial synergies and customer interest? A: Michael Reeves, CEO, stated that while tariff uncertainty has limited upside, AmerCable's EBITDA contribution expectations remain unchanged. Some orders have been delayed, but new orders in medium voltage for industrial applications have been captured. Q: Is the expectation still to reach a 20% EBITDA margin for the connection technologies division? A: Tom Holloway, CFO, confirmed the expectation to reach a 20% EBITDA margin, although not this year. Market improvements could accelerate this timeline, but the margin profile view remains unchanged. Q: How is the outlook for international order flow in the Flexpipe segment? A: Michael Reeves, CEO, mentioned that international revenue in Q4 and Q1 was similar, with no large tenders expected this year. The second half of the year is anticipated to be stronger for international revenue generation. Q: What percentage of Xerxes revenue comes from stormwater management, and how has this business grown? A: Michael Reeves, CEO, indicated that stormwater management accounts for 20% to 25% of Xerxes revenue. Growth has been limited by production capacity, but new facilities are expected to drive this percentage higher. Q: Has steel price inflation driven any incremental demand for composite products? A: Michael Reeves, CEO, noted that steel tariffs have made composite solutions more attractive, driving customer migration from steel to composites. This trend is expected to continue, benefiting both Flexpipe and Xerxes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-03-2025
- Business
- Yahoo
Mattr Corp (MTTRF) Q4 2024 Earnings Call Highlights: Revenue Growth Amidst EBITDA Challenges
Revenue: $207.8 million in Q4 2024, an 8.5% increase from Q4 2023. Adjusted EBITDA from Continuing Operations: $12.7 million in Q4 2024, a 50.9% decrease from the prior year. Composite Technology Segment Revenue: $120.3 million in Q4 2024, a 6.9% increase from Q4 2023. Connection Technology Segment Revenue: $87.5 million in Q4 2024, an 11% increase from Q4 2023. Cash Provided by Operating Activities: $45.2 million in Q4 2024. Net Cash Generated: $316.5 million in Q4 2024. Net Debt: $131.9 million as of December 30, 2024. Share Repurchases: Nearly 1.9 million shares repurchased in Q4 2024. Capital Expenditures: $33.1 million in Q4 2024. Full Year 2024 Revenue from Continuing Operations: $885.3 million, a 0.5% increase from 2023. Full Year 2024 Adjusted EBITDA from Continuing Operations: $108.2 million, a 28.2% decrease from 2023. Warning! GuruFocus has detected 2 Warning Signs with MTTRF. Release Date: March 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Mattr Corp (MTTRF) achieved new annual revenue records in three of its four business lines and year-over-year revenue growth within its consolidated continuing operations. The company successfully completed its North American production modernization, expansion, and optimization (MEO) program, establishing three new US manufacturing sites. Mattr Corp (MTTRF) acquired AmerCable, significantly enhancing its wire and cable portfolio and making connection technologies the larger of its two segments. The company repurchased more than 3.3 million shares under its normal course issuer bid, buying back nearly 12% of its stock since the program's inception. Mattr Corp (MTTRF) expects meaningful year-over-year growth in 2025 revenue and adjusted EBITDA, driven by its connection technology segment and the Xerxes business within its composite technology segment. Mattr Corp (MTTRF) experienced a 50.9% decrease in adjusted EBITDA from continuing operations compared to the prior year, primarily due to non-capitalizable expenses tied to the MEO strategy. The company anticipates continued weakness in the North American onshore oilfield market, Eurozone industrial sector, and global automotive market throughout 2025. Mattr Corp (MTTRF) incurred $18 million of non-capitalizable expenses related to its MEO strategy, impacting reported adjusted EBITDA. The company faced a decline in gross profit due to temporary impacts of unabsorbed costs at Xerxes sites and changes in product and customer mix. Mattr Corp (MTTRF) expects potential tariff impacts due to cross-border exposure, with approximately 30% of its continuing operations revenue derived from product sales crossing the US-Canadian border. Q: Can you discuss the potential impact of tariffs on your cross-border operations and how you plan to manage these costs? A: Michael Reeves, President and CEO, explained that most cross-border revenue is within the composites segment, with Mattr often being the importer of record for Flexpipe but not for Xerxes. If tariffs are imposed, Mattr plans to pass these costs to customers, as their products are USMCA compliant and currently not subject to tariffs. The company has also prepositioned inventory in the US to mitigate potential impacts. Q: What is the outlook for Flexpipe, especially in light of your competitor's recent performance? A: Michael Reeves noted that Flexpipe's revenue for Q4 2024 and Q1 2025 is expected to be similar, driven by market share gains and the introduction of larger-diameter products. These products have expanded Flexpipe's addressable market, and the company anticipates continued growth despite a flat North American operating environment. Q: How is the integration of AmerCable progressing, and what are the expected costs and benefits? A: Michael Reeves stated that the integration is going well, with a focus on maintaining AmerCable's current operations. The company expects $5 million in onboarding costs in 2025, with cross-selling opportunities anticipated to drive revenue growth. AmerCable's revenue is expected to be strongest in Q1 due to project timing. Q: Can you provide an update on the cost savings from the recent workforce restructuring? A: Tom Holloway, CFO, confirmed that the expected reductions have been executed, aligning the workforce with market demand. The restructuring costs were approximately $4.9 million, and the company believes it has the right cost base for anticipated 2025 revenue levels. Q: What are the expectations for MEO costs in 2025, and how will they impact the financials? A: Tom Holloway indicated that MEO costs are expected to be $7 million to $8 million in 2025, spread across the first two quarters, and will be concentrated in the connection technology segment. No further MEO costs are anticipated for composite technologies. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
