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Matthews International Appoints Michael J. Whitehead as New CEO

Matthews International (MATW) announced that its Board of Directors has appointed Michael J. Whitehead as President and CEO, succeeding Joseph C. Bartolacci, who recently announced his intention to retire following more than two decades of leadership of the Company. Following its review, the Board unanimously selected Whitehead, a proven industrial technology executive with a distinguished record of driving innovation, operational excellence, and profitable growth across global manufacturing businesses. Whitehead joins Matthews from Lincoln Electric Holdings (LECO), a global leader in advanced manufacturing, automation, and industrial technology solutions. He most recently served as Executive Vice President and President, Americas Welding, leading Lincoln Electric's largest and most profitable business, representing more than $2.5B in annual revenue. Whitehead throughout his professional career. An electrical engineer and patent attorney, Mr. Whitehead joined Lincoln Electric in 2005 as Chief Counsel, Intellectual Property, and quickly ascended within the organization, holding a series of increasingly significant strategic and operational leadership positions. Most notably, he served as President, Global Automation, Cutting & Additive Solutions from 2019 through 2025, where he more than doubled the business to over $1B in revenue, helping establish Lincoln Electric as a global leader in automation and advanced manufacturing technologies.

Company Reports Q2 Revenue of $1.22B

Reports Q2 revenue $1.22B, consensus $1.17B. "We achieved record second quarter results across key metrics including sales, operating income profitability, earnings, and cash generation," stated Steven Hedlund, Chairman and Chief Executive Officer. "We are encouraged by improved demand and capital spending in the Americas and Asia Pacific, and strong execution of our RISE Strategy initiatives positions us well to generate superior returns for our shareholders."

Company Reports Q1 Revenue of $1.121B

Reports Q1 revenue $1.121B, consensus $1.07B. "We achieved solid first quarter performance driven by disciplined cost management and improving industrial activity in the Americas," said Steven B. Hedlund, Chairman and Chief Executive Officer. "Our team remains agile as we navigate evolving operating conditions and advance our new long-term RISE strategy. We are well positioned to capitalize on growth opportunities, increase profitability and compound earnings from our strategic initiatives and our capital allocation strategy," Hedlund concluded.