Q: Peter and His Wonder Team
MATR just reported quarterly results. In general how would you rate this quarter. What is your prognosis going forward.
Is it still a buy as some analysts maintain? Thanks as always!
MATR just reported quarterly results. In general how would you rate this quarter. What is your prognosis going forward.
Is it still a buy as some analysts maintain? Thanks as always!
5i Research Answer:
MATR beat EPS estimates of 13c coming in at 16c for the first quarter. Revenue also beat estimates of $216.6M coming in at $224.5M and declined 6% year-over-year. The company stated that it made significant progress to its modernization, expansion and optimization (MEO) strategy. As this strategy continues to be executed, MATR will likely continue to face future one-time costs as it did in Q1. The company expects production from the first two of four new sites around mid-year as a result of the MEO strategy. The quarter appears fine as MATR continues to be in a transitional phase and the weakness in demand was driven by seasonal factors.