Mattr offers leveraged exposure to long-term infrastructure renewal, electrification, and energy transition spending through differentiated products like composite pipe, FRP tanks, stormwater management systems, and specialized cables and connectors. These products often have clear technical or regulatory advantages (corrosion resistance, lighter weight, environmental performance) that support pricing power and recurring replacement demand, which underpins margin resilience across cycles.
Second, the strategic reshaping of the portfolio (exiting lower-return pipe coating, rebranding and focusing on Composite and Connection Technologies, and acquiring AmerCable) has already driven a step-change in revenue scale and profits.
For a mid-cap industrial at this stage of a transformation, the current valuation of 21.1 times forecast earnings doesn’t appear to fully reflect the improved business mix, the secular demand drivers in its end-markets, or the potential value from further tuck-in acquisitions or internal capacity expansions.
MATTR CORP. (Toronto symbol MATR; www.mattr.com) makes plastic tanks and industrial products such as electrical cables and sheaths.
Formerly called ShawCor Ltd. (old symbol SCL), the company sold most of its pipeline coating business to Tenaris S.A. (New York symbol TS) in 2024 for $241.2 million.
Mattr now has two segments: Connection Technologies (about 58% of revenue in the latest quarter) makes a variety of cables, and wires; and Composite Technologies (42%), which makes plastic underground storage tanks and pipes.
North America is its biggest market, accounting for around 89% of its revenue, followed by Europe (10%) and Asia (1%).
In January 2025, Mattr completed its acquisition of AmerCable Inc. for $280 million U.S. (about $404 million Canadian). Based in Arkansas, this firm makes a variety of power cables and wires for industrial customers.
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Mattr has made key moves to spur future gains
Mattr’s revenue in the three months ended March 31, 2026, rose 0.5%, to $321.8 million from $320.1 million a year earlier. That beat the consensus forecast of $304.3 million.
Sales of plastic pipes (42% of the total) rose 1.5%, which offset a 0.2% decline in sales of wire and cable products (58%).
However, due to higher interest charges and income taxes, earnings from continuing operations fell 67.6%, to $0.11 a share (or a total of $6.7 million) from $0.34 a share (or $21.6 million). Even so, that beat the $0.06 a share consensus estimate.
Longer term, Mattr should benefit from the ongoing buildout of new datacentres to power artificial intelligence services. It also recently upgraded and modernized some of its plants, which will lower its operating costs. Moreover, the company is doing a good job adjusting its supply chains to minimize the impact of tariffs on copper and other raw materials.
Mattr recently won a significant order for its plastic pipes. That will help lift its full-year earnings by 15% to $0.63 a share, and the stock trades at 21.13 times that estimate. That’s a reasonable multiple in light of improving demand for wires and storage tanks from mining firms, power utilities and operators of AI datacentres.
Moreover, the company should benefit from the recent decision by the U.S. Supreme Court that struck down the Trump administration’s emergency tariffs.
Recommendation in The Successful Investor: Mattr Corp. is still a buy for aggressive investors.
