Matrix Service

Matrix Service Co. engages in the provision of engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. It operates through the following segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. The Utility and Power Infrastructure segment offers power delivery services to investor-owned utilities including construction of new substations, upgrades of existing substations, transmission and distribution line installation, upgrades and maintenance, and emergency and storm restoration services. The Process and Industrial Facilities segment provides services in the downstream and midstream petroleum industries, which engages in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. The Storage and Terminal Solutions segment focuses on work related aboveground storage tanks and terminals. The company was founded by Bill Lee, Doyl D. West, Harold Morgan, and Martin Lee Rinehart on April 4, 1984 and is headquartered in Tulsa, OK.

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Matrix Service Company reports strong Q3 momentum despite cost challenges

Matrix Service Company demonstrated strong project award momentum and a healthy backlog increase, but faced challenges with cost management and revenue in certain segments. The increase in liquidity and positive outlook for future backlog and revenue growth provide optimism for the company's performance in the coming years.

Matrix Service reports mixed Q2 results, eyes clean energy opportunities

Matrix Service Company navigated challenges in Q2 2023, focusing on safety, securing significant awards, and maintaining a positive outlook for the future. Despite financial setbacks, the company's strong project backlog and liquidity improvements provide a solid foundation for growth. Addressing challenges and capitalizing on opportunities in clean energy will be key for future success.

Matrix Service reports robust project growth and improved liquidity

Matrix Service demonstrated strong project awards and backlog growth in Q3 2023.
While facing challenges in profitability and net losses, the company's liquidity improved.
Opportunities in hydrogen infrastructure projects and a substantial project pipeline position Matrix for future growth.

Matrix Service reports strong Q4 awards and revenue growth

Matrix Service's Q4 2023 performance reflected significant revenue growth and a notable increase in ending backlog, despite a net loss. The company's focus on safety culture, strategic positioning in LNG, and strong backlog diversification are key strengths. Challenges persist in achieving profitability, but opportunities for growth in fiscal 2024 are promising.

Matrix Service reports strong project awards and backlog growth

Matrix Service Company's Q1 2024 performance reflects robust project awards and backlog growth, despite a net loss, showcasing operational resilience and market potential.
While facing financial challenges and operational inefficiencies, the company's strategic strengths in safety, backlog expansion, and financial stability position it for future success.
Opportunities lie in market diversification, revenue expansion through energy projects, and operational improvements, signaling a positive outlook for Matrix Service Company.

Matrix Service reports record backlog and strategic growth initiatives

Matrix Service's Q2 performance reflects revenue impacts from project timing but anticipates growth in subsequent quarters, driven by a strong opportunity pipeline.
The company's strategic focus on energy markets, operational improvements, and cost management efforts position it for profitability and growth in the future.
While facing challenges in achieving profitability and managing project impacts, Matrix Service remains optimistic about its financial performance and market positioning.

Matrix Service reports mixed Q3 results, eyes revenue growth

Matrix Service navigated through revenue challenges in Q3, but remains optimistic about revenue improvement and profitability in the upcoming quarters. With a strong backlog and focus on key markets, the company is poised for growth through infrastructure projects and LNG opportunities.

Matrix Service posts robust Q4 results, eyes strong 2025 growth

Matrix Service reported a strong Q4 performance with increased backlog and new project awards, setting the stage for revenue growth in 2025.
Despite challenges like under-recovered construction overhead costs, the company's focus on key megatrends and a robust opportunity pipeline bode well for future success.
With a strengthened balance sheet, healthy cash position, and optimistic revenue guidance, Matrix Service is poised for growth and profitability in the coming years.

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Matrix Service Co. engages in the provision of engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. It operates through the following segments: Storage and Terminal Solutions, Utility and Power Infrastructure, Process and Industrial Facilities, and Corporate. The Storage and Terminal Solutions segment consists of engineering, procurement, fabrication, and construction services related to cryogenic and other specialty tanks and terminals for LNG, NGLs, hydrogen, ammonia, propane, butane, liquid nitrogen and oxygen, and liquid petroleum. The Utility and Power Infrastructure segment is involved in engineering, procurement, fabrication, and construction services to support growing demand for LNG utility peak shaving facilities. The Process and Industrial Facilities segment refers to plant maintenance, repair, and turnarounds in the downstream and midstream markets for energy clients including refining and processing of crude oil, fractionating, and marketing of natural gas and natural gas liquids. The company was founded by Bill Lee, Doyl D. West, Harold Morgan, and Martin Lee Rinehart on April 4, 1984, and is headquartered in Tulsa, OK.

TULSA, Okla., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release first quarter Fiscal 2025 results after market on Wednesday, November 6, 2024.

Matrix Service Company Sets Dates for Release of First Quarter Fiscal 2025 Financial Results and Conference Call

TULSA, Okla., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today released its Fiscal 2024 Sustainability Report.

Matrix Service Company Publishes Fiscal 2024 Sustainability Report

The energy and mining industry supplier unveiled its fiscal 2024 fourth-quarter results after the market closed Monday. Its results were mixed, but its immediate future looks rather bright.

Why Matrix Service Stock Rocketed 15% Higher on Tuesday

Matrix Service Company (NASDAQ:MTRX ) Q4 2024 Earnings Conference Call September 10, 2024 10:30 AM ET Company Participants Kellie Smythe - Senior Director of IR John Hewitt - President and CEO Kevin Cavanah - VP, CFO Conference Call Participants John Franzreb - Sidoti & Company Brent Thielman - D.A. Davidson Operator Good morning.

Matrix Service Company (MTRX) Q4 2024 Earnings Call Transcript

Matrix Service (MTRX) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to loss of $0.11 per share a year ago.

Matrix Service (MTRX) Reports Q4 Loss, Lags Revenue Estimates

TULSA, Okla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading North American industrial engineering, construction, and maintenance contractor, today announced results for the fourth quarter and year ended June 30, 2024.

Matrix Service Company Reports Fourth Quarter and Full-Year Fiscal 2024 Results; Issues Fiscal 2025 Revenue Guidance

TULSA, Okla., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R. Hewitt, Vice President and Chief Financial Officer Kevin Cavanah, and Senior Director of Investor Relations Kellie Smythe, will be attending the D. A. Davidson 23rd Annual Diversified Industrials & Services Conference scheduled for September 18 – 20, 2024 in Nashville, Tennessee.

Matrix Service Company to Participate at the Upcoming D. A. Davidson 23rd Annual Diversified Industrials & Services Conference

TULSA, Okla., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release fourth quarter and Fiscal 2024 results after market on Monday, September 9, 2024.

Matrix Service Company Sets Dates for Release of Fourth Quarter and Fiscal 2024 Financial Results and Conference Call

Matrix Service Company experienced a decline in revenue and profitability due to the COVID-19 pandemic but is now recovering. The company has a strong backlog of orders, deferred revenue, and tailwinds that are expected to drive revenue and earnings higher. I have a one-year price target of $15.30 for MTRX, representing a potential increase of over 50%.

Matrix Service Company Expected To Rise On Return To Profitability

TULSA, Okla., July 01, 2024 (GLOBE NEWSWIRE) --  Matrix Service Company (NASDAQ: MTRX) (“Matrix Service Company,” “Matrix”, or “the Company”), a leading engineering and construction contractor to the energy and industrial markets, today announced its addition to the Russell 3000® Index, effective after the close of the U.S. equity markets on June 28, 2024.

Matrix Service Company Set to Join Russell 3000® Index

Investors need to pay close attention to Matrix Service (MTRX) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Matrix Service (MTRX) Stock?

TULSA, Okla., May 14, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R. Hewitt, Vice President and Chief Financial Officer Kevin Cavanah, and Senior Director of Investor Relations Kellie Smythe, will be attending the Stifel Cross-Sector Insight Conference on June 4 and 5, 2024.

Matrix Service Company to Participate at Upcoming Stifel Cross-Sector Insight Conference

Matrix Service Company (NASDAQ:MTRX ) Q3 2024 Earnings Conference Call May 9, 2024 10:30 AM ET Company Participants Kellie Smythe - Senior Director of Investor Relations John Hewitt - President and Chief Executive Officer Kevin Cavanah - Vice President and Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson John Franzreb - Sidoti & Company Brent Thielman - D.A.

Matrix Service Company (MTRX) Q3 2024 Earnings Call Transcript

Matrix Service (MTRX) came out with a quarterly loss of $0.53 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.33 per share a year ago.

Matrix Service (MTRX) Reports Q3 Loss, Misses Revenue Estimates

TULSA, Okla., May 08, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading North American industrial engineering, construction, and maintenance contractor, today announced results for the third quarter fiscal 2024 ended March 31, 2024.

Matrix Service Company Reports Third Quarter Fiscal 2024 Results

TULSA, Okla., April 24, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release third quarter Fiscal 2024 results after market on Wednesday, May 8, 2024.

Matrix Service Company Sets Dates for Release of Third Quarter Fiscal 2024 Financial Results and Conference Call

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Lower equipment demand and significant debt exposures are matters of concern, making the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry gloomy. Kodiak Gas (KGS), Oil States, (OIS), Matrix Service (MTRX) and Profire Energy (PFIE) are trying to survive industry challenges.

4 Oil & Gas Equipment Stocks to Watch Amid Industry Challenges

TULSA, Okla., March 19, 2024 (GLOBE NEWSWIRE) -- With significant demand across Europe for infrastructure supporting sustainable energy resources, Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that its subsidiary, Matrix PDM Engineering, has signed a Memorandum of Understanding with Engicon nv (Geldof), headquartered in Harelbeke, Belgium, allowing the team to jointly provide total Engineering, Procurement, and Construction (EPC) solutions for ammonia storage across Europe.

Matrix Service Company Announces Strategic Relationship With Geldof to Provide Total EPC Solutions For Ammonia Storage Across Europe

TULSA, Okla., March 05, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix North American Construction (Matrix NAC) has been awarded the engineering, procurement, and construction of three 522,000-barrel crude oil storage tanks for a long-standing client at a terminal on the West Coast. Matrix Applied Technologies will also provide geodesic domes, which help manage carbon emissions, as part of the project.

Matrix Service Company Receives Award From Long-Standing Client for Multiple Storage Tanks on the West Coast

TULSA, Okla., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R.

Matrix Service Company to Present at Upcoming Sidoti Small-Cap Virtual Conference

Matrix Service (MTRX) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.

Matrix Service (MTRX) Is a Great Choice for 'Trend' Investors, Here's Why

Matrix Service Company (MTRX) Q2 2024 Earnings Call Transcript

TULSA, Okla., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

Matrix Service Company Reports Second Quarter Fiscal 2024 Results

TULSA, Okla., Jan. 24, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release second quarter Fiscal 2024 results after market on Wednesday, February 7, 2024.

Matrix Service Company Sets Dates for Release of Second Quarter Fiscal 2024 Financial Results and Conference Call

Lower equipment demand and significant debt exposures are matters of concern, making the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry gloomy. Oil States International, (OIS), Matrix Service (MTRX) and Profire Energy (PFIE) are trying to survive industry challenges.

News for Matrix Service Stock (MTRX)