5/14/2026

speaker
Operator
Conference Operator

Thank you for standing by and welcome to Matters First Quarter 2026 Earnings Conference Call. Currently, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Megan McCracken. Investor Relations. Please go ahead.

speaker
Megan McCracken
Investor Relations

Good morning. Before we begin this morning's conference call, I'd like to remind listeners that today's call includes forward-looking statements that involve estimates, judgments, risks, and uncertainties that may cause actual results to differ materially from those projected. The complete text of matters statement on forward-looking information is included in Section 4.0 of the First Quarter 2026 Earnings Press Release, in the MD&A that is available on CDAR Plus and on the company's website at matter.com. For those joining via webcast, you may follow the visual presentation that accompanies this call. I'll now turn it over to Matter's President and CEO, Mike Reeves.

speaker
Mike Reeves
President and CEO

Good morning, and thank you for attending our first quarter conference call. Today, Megan and I are joined by our Senior Vice President of Finance and CFO, Tom Holloway. Q1 saw Matter's talented teams deliver sequential revenue and adjusted EBITDA growth. Normal early year seasonal slowness was largely offset by strong wiring cable sales into mining and utility applications, underground tank sales into retail fuel and water management markets, and sequentially stronger operational efficiency across matters newly modernized North American manufacturing network. I was particularly pleased with the sequential margin progression delivered by our composite technology segment, where Xerpsys set a new first quarter performance Across MATA, our focus remains on what we can control, operational execution, technology development, and disciplined capital allocation, all of which strengthen the quality and durability of our earnings. We continue to build momentum within mining, data center, and utility, wire and cable markets, where our unique products, delivery speed, and technical support translate into accreted margins and defensible share gains. Across our manufacturing footprint, Startup inefficiencies and one-time modernization costs that have weighed on results in recent years are largely behind us. And as volumes rise, mix improves, and cost absorption increases, we expect to deliver progressively stronger margins over time. It's worth noting that recent external events have had limited impact on our organization. Our strategic shift to a largely localized supply chain during 2025 has positioned matter to navigate recently updated U.S. copper tariff rules with no incremental effect on our wiring cable businesses, and we have not experienced raw material availability issues tied to the Middle East conflict. While we have observed rising costs, particularly in resins, we generally have the ability to pass these onwards. Tom will now walk us through some additional financial details.

Disclaimer

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