Matthews International Corporation (NASDAQ:MATW) Q1 2023 Earnings Call Transcript

Joseph C. Bartolacci: Sure. We’ve been saying for a long time, and I think the message is getting out loud and clear, what we deliver is a substantially more effective, cheaper, faster, better solution than current technology that’s out there for what’s called wet electrode, and what is happening is there are other components to the process which are front ended, like material handling, as well as the balance of it. What you’re starting to see is significant accounts realizing that they can get the benefits of our technology if they can figure out those other pieces. I think the IRA, the Inflation Reduction Act, has stimulated a lot of willingness to take that chance to move forward. We expect this kind of acceleration to continue. The market for dry battery electrode, we believe, over time, is very significant. There is a lot of discussion in the market about what solid-state is. Solid-state batteries is the ultimate Holy Grail, I guess, of battery technology on the lithium side. This is a necessary step to get there. We think this is the beginning of a trend. Will it be as consistent as $200 million a quarter? Most likely not. But, at the same time, do I think this trajectory is where we’re going? Absolutely.

Justin Bergner: Great. Thank you very much.

Operator: Thank you. There are no further questions at this time. I’d like to turn the floor back over to Bill Wilson.

William D. Wilson: Thank you, Paul, and thank you, everyone, for joining us today and for your interest in Matthews. For additional information about the Company and our financial results, please contact me or visit our website. Thank you and enjoy the rest of your day.

Operator: This concludes today’s conference, you may disconnect your lines at this time. Thank you for your participation.