TORONTO, July 13, 2026 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced select preliminary unaudited financial results for the three-month period ended June 30, 2026, based on preliminary financial information currently available to management, which are expected to meaningfully exceed management’s prior expectations for the quarter. The Company continues to finalize its financial results and therefore has not yet completed its customary quarter-end review procedures.
"We are pleased with the strength of our second quarter performance," said Mike Reeves, President and Chief Executive Officer. "Order capture across our wire and cable markets was stronger than previously anticipated, while continued operational efficiency improvements across our modernized manufacturing network, particularly within our Xerxes tank business, enabled more rapid fulfillment of customer orders, resulting in preliminary second quarter revenue and Adjusted EBITDA which exceed management’s prior expectations."
Mr. Reeves continued, "While we remain mindful of ongoing economic and geopolitical uncertainty, our second quarter performance reflects the benefits of the strategic investments and portfolio actions undertaken over the past several years. We continue to see encouraging momentum in a number of critical infrastructure markets and remain focused on disciplined execution, operational excellence, and long-term value creation."
Preliminary Second Quarter 2026 Highlights from Continuing Operations
Subject to completion of typical quarter-end review procedures, the Company currently expects:
- Q2 2026 Consolidated Revenue of $390 million to $400 million
- Q2 2026 Consolidated Adjusted EBITDA1 of $60 million to $65 million
The preliminary unaudited results contained in this release are estimates only, reflect management’s current expectations based on financial information currently available, and remain subject to completion of the Company's normal quarter-end financial reporting processes, auditor review procedures and approval by the Board of Directors. The Company's independent auditor, KPMG LLP, has not audited, reviewed or performed any procedures with respect to the preliminary financial results, and accordingly does not express an opinion or any other form of assurance with respect thereto. These preliminary unaudited results do not constitute a comprehensive statement of the Company’s financial results for the second quarter of 2026 and should not be viewed as a substitute for the Company’s complete financial statements for that period. Additional adjustments to these preliminary estimates may be identified, and the Company’s final results may differ from the estimates presented herein.
The Company does not intend to continue to provide preliminary results in the future. Mattr expects to release its complete second quarter 2026 financial results on August 12, 2026, and will host a conference call at 9am ET on August 13, 2026, to discuss the results. The Company is continuing to assess its second quarter performance, together with its expectations for the business, operational performance and overall market outlook for the remainder of 2026 and is therefore not in a position to provide an updated full year 2026 outlook at this time. The Company intends to provide an updated full year 2026 outlook when it releases its complete second quarter financial results.
About Mattr
Mattr is a growth-oriented, global materials technology company serving critical infrastructure markets, including electrification, transportation, mining, energy, communication, and water management. 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: meghan.maceachern@mattr.com
Website: www.mattr.com
NON-GAAP MEASURES
The Company reports on certain non-GAAP and other financial measures, including adjusted EBITDA, that are used to evaluate its performance and segments, as well as to determine compliance with debt covenants and to manage its capital structure. These non-GAAP and other financial measures do not have standardized meanings under IFRS Accounting Standards as issued by the International Accounting Standards Board and are not necessarily comparable to similar measures provided by other companies. The Company discloses these measures because it believes that they provide further information and assist readers in understanding the results of the Company’s operations and financial position. These measures should not be considered in isolation or used in substitution for other measures of performance prepared in accordance with GAAP. Investors are cautioned not to place undue reliance on these non-GAAP measures and are encouraged to review them in conjunction with the most directly comparable IFRS measures once available. As this news release contains preliminary financial information only, a quantitative reconciliation of the non-GAAP financial measures presented herein to the most directly comparable financial measures disclosed in the Company’s financial statements prepared in accordance with IFRS Accounting Standards is not available at this time. A reconciliation of these measures will be included in Mattr’s complete financial results news release for the applicable reporting period, expected to be released on August 12, 2026.
EBITDA and Adjusted EBITDA
EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation, and amortization. Adjusted EBITDA is also a non-GAAP measure defined as EBITDA adjusted for items which do not impact day-to-day operations. Adjusted EBITDA is calculated by adding back to EBITDA the sum of impairments, costs associated with refinancing of long-term debt and credit facilities, (gain)/loss on sale of land and other, (gain)/loss on sale of operating unit and associates, acquisition costs including non-cash impact from inventory fair value adjustments, share-based incentive compensation (recovery) cost, non-recurring pension related costs (recoveries), foreign exchange (gain)/loss, and restructuring costs and other, net, and the impact of non-recurring transactions that are outside the Company’s normal course of business or day-to-day operations. The Company believes that EBITDA and Adjusted EBITDA are useful supplemental measures that provide a meaningful indication of the Company’s results from principal business activities prior to the consideration of how these activities are financed or the tax impacts in various jurisdictions and for comparing its operating performance with the performance of other companies that have different financing, capital or tax structures. The Company presents Adjusted EBITDA as a measure of EBITDA that excludes the effect of transactions that fall outside the Company’s ordinary course of business or routine operations. Adjusted EBITDA is used by many analysts as one of several important analytical tools to evaluate financial performance and is a key metric in business valuations. It is also considered important by lenders to the Company and is included in the financial covenants of the Credit Facility. The most directly comparable financial measure to EBITDA and Adjusted EBITDA that is disclosed in the Company’s primary financial statements is Net Income or Operating Income for segments.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities laws, including statements regarding: the Company’s preliminary expected revenue and Adjusted EBITDA for the second quarter of 2026; the anticipated timing for release of the Company’s complete second quarter 2026 financial results; and the Company’s intention to provide an updated full year 2026 outlook at that time. Such forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “estimates”, “intends”, “will” and similar expressions.
This forward-looking information is based on assumptions, estimates and analysis made by management in light of its experience and its perception of current conditions and expected developments, and is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking information, including that the preliminary estimates disclosed herein are based on financial information that has not been finalized and remain subject to the completion of the Company’s quarter-end closing, review procedures, and may differ from the Company’s final results for the second quarter of 2026. Additional risks and uncertainties affecting the Company are described under “Risks and Uncertainties” in the Company’s most recent management’s discussion and analysis and under “Risk Factors” in the Company’s Annual Information Form, each available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this press release. Except as required by applicable securities laws, the Company does not undertake any obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise.
Source: Mattr Corp.
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1 Adjusted EBITDA is a non-GAAP measure; see “Non-GAAP Measures” below for further information.
