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.

Matrix Service Q1 2025: Revenue Challenges Amid Growth Opportunities

Matrix Service faced revenue challenges in Q1 but maintains a strong backlog and revenue guidance for fiscal 2025.
The company anticipates profitability in fiscal 2025 and sees growth opportunities in key segments.
Analysts raised concerns about expenses and project timing, while executives highlighted positive impacts from the administration change.
With solid liquidity and a focus on key growth areas, Matrix Service aims for a resilient performance.

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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.

Company sets dates for release of fourth quarter and fiscal 2023 financial results and related conference call Company sets dates for release of fourth quarter and fiscal 2023 financial results and related conference call

Matrix Service Company Announces Receipt of $464 Million of Awards in Fiscal Fourth Quarter and Ending Backlog of $1.1B

Matrix Service Company (NASDAQ:MTRX ) Q3 2023 Earnings Conference Call May 9, 2023 10:30 AM ET Company Participants Kellie Smythe - Senior Director of Investor Relations John Hewitt - President & Chief Executive Officer Kevin Cavanah - Vice President & Chief Financial Officer Conference Call Participants John Franzreb - Sidoti Brent Thielman - D.A. Davidson Operator Good morning and welcome to the Matrix Service Company Conference Call to discuss results for the Third Quarter of Fiscal 2023.

Matrix Service Company (MTRX) Q3 2023 Earnings Call Transcript

TULSA, Okla., May 09, 2023 (GLOBE NEWSWIRE) -- 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 an exclusive Memorandum of Understanding with Tissot Industrie, headquartered in Podensac, France, which allows each to offer total Engineering, Procurement, and Construction (EPC) solutions for liquid hydrogen storage across the United Kingdom, Norway, Switzerland, and the European Union.

Matrix PDM Engineering and Tissot Industrie Form Exclusive Relationship to Provide Total EPC Solutions for Liquid Hydrogen Storage Across Europe

TULSA, Okla., May 08, 2023 (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 Third Quarter Fiscal 2023 Results

TULSA, Okla., April 25, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) , a leading provider of engineering and construction services to the energy and industrial markets, will announce results for the third quarter of Fiscal 2023 after market on Monday, May 8, 2023.

Matrix Service Company Announces Date for Release of Third Quarter 2023 Financial Results and Conference Call

TULSA, Okla., March 29, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix Service, has been awarded the greenfield engineering, procurement, and construction of a second 600,000-barrel cryogenic ethane storage tank for a subsidiary of Enterprise Products Partners L.P. along the Texas Gulf Coast. The project, which was taken into Matrix's backlog in the second quarter of Fiscal 2023, supports a continued demand for ethane in the global marketplace. Engineering for the storage tank will be completed by Matrix PDM Engineering.

Enterprise Products Awards Matrix Service EPC For A Second Ethane Storage Tank Along The Texas Gulf Coast

Industrials stocks and other cyclical niches have come under attack by the bears amid a risk-off trading environment in March. Matrix Service remains a risky play given its lack of earnings and volatile trading history.

Matrix Service: Waiting For Profitability, Shares Retreat From A Monster Rally

Matrix Service Company (NASDAQ:MTRX ) Q2 2023 Results Conference Call February 9, 2023 10:30 AM ET Company Participants Kellie Smythe - Senior Director of Investor Relations John Hewitt - President, Chief Executive Officer Kevin Cavanah - Vice President, Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson John Franzreb - Sidoti Operator Good day, and thank you for standing by, and welcome to the Matrix Service Company conference call to discuss results for the second quarter fiscal 2023.

Matrix Service Company (MTRX) Q2 2023 Earnings Call Transcript

TULSA, Okla., Feb. 09, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its second quarter of fiscal 2023.

Matrix Service Company Reports Second Quarter Fiscal 2023 Results

TULSA, Okla., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) previously announced release of results for the second quarter of Fiscal 2023 after market on Tuesday, February 7, 2023, followed by a conference call Wednesday, February 8, 2023. The Company now intends to release results for the second quarter of Fiscal 2023 before market on Thursday, February 9, 2023. The release will be followed by a conference call at 10:30 a.m. Eastern time/9:30 a.m. Central time on Thursday, February 9, 2023.

Matrix Service Company Updates Timing for Release of Financial Results for the Second Quarter of Fiscal 2023

TULSA, Okla., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix Service, has been awarded the greenfield engineering, procurement, and construction of a 600,000 barrel cryogenic ethane storage tank for Enterprise Products along the Texas Gulf Coast. The project, which was taken into Matrix's backlog in the first quarter of Fiscal 2023, supports a continued demand for ethane in the global marketplace. Engineering for the storage tank will be completed by Matrix PDM Engineering.

Enterprise Products Awards Matrix Service EPC for Ethane Storage Tank Along the Texas Gulf Coast

TULSA, Okla., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for the second quarter of Fiscal 2023 after market on Tuesday, February 7, 2023. The release will be followed by a conference call on Wednesday, February 8, 2023, at 10:30 a.m. Eastern time/9:30 a.m. Central time.

Matrix Service Company Sets Date for Release of Financial Results for the Second Quarter of Fiscal 2023

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Matrix Service (MTRX) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

Matrix Service (MTRX) Is Attractively Priced Despite Fast-paced Momentum

Matrix Service (MTRX) Shows Fast-paced Momentum But Is Still a Bargain Stock

Matrix Service Company (NASDAQ:MTRX ) Q1 2023 Earnings Conference Call November 8, 2022 10:30 AM ET Company Representatives John Hewitt - President, Chief Executive Officer Kevin Cavanah - Vice President, Chief Financial Officer Kellie Smythe - Senior Director, Investor Relations Conference Call Participants John Franzreb - Sidoti Brent Thielman - D.A. Davidson Operator Good day and thank you for standing by.

Matrix Service Company (MTRX) Q1 2023 Earnings Call Transcript

TULSA, Okla., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its first quarter of fiscal 2023.

Matrix Service Company Reports First Quarter Fiscal 2023 Results

TULSA, Okla., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix NAC, has been awarded the engineering, procurement, and construction of upgrades being made to an existing LNG peak shaving facility that include a new gas liquefaction system and vaporization system. This project for a large public utility located in the Mid-Atlantic region of the U.S. was awarded and will be taken into backlog in the second quarter of Fiscal 2023.

Matrix Service Awarded LNG Peak Shaving Upgrade Project for Large Mid-Atlantic Public Utility

TULSA, Okla., Oct. 24, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for the first quarter of Fiscal 2023 after market on Monday, November 7, 2022. The release will be followed by a conference call on Tuesday, November 8, 2022, at 10:30 a.m. Eastern time/9:30 a.m. Central time.

Matrix Service Company Sets Date for Release of Financial Results for the First Quarter of Fiscal 2023

TULSA, Okla., Oct. 17, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today released its Fiscal 2022 Sustainability Report.

Matrix Service Company Publishes Fiscal 2022 Sustainability Report

Matrix Service Company (NASDAQ:MTRX ) Q4 2022 Earnings Conference Call October 7, 2022 10:30 AM ET Company Participants Kellie Smythe - IR John Hewitt - President & CEO Kevin Cavanah - VP & CFO Conference Call Participants Jean Ramirez - D.A. Davidson John Franzreb - Sidoti Operator Good day, and thank you for standing by.

Matrix Service Company (MTRX) Q4 2022 Earnings Call Transcript

TULSA, Okla., Oct. 07, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) today reported its financial results for the fourth quarter and year ended June 30, 2022.

Matrix Service Company Announces Fiscal 2022 Fourth Quarter and Full Year Results

Notice has no Immediate Effect on the Listing or Trading of the Company's Shares Notice has no Immediate Effect on the Listing or Trading of the Company's Shares

Matrix Service Company Receives Nasdaq Notice on Late Filing of Its Form 10-K

TULSA, Okla., Sept. 29, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2022 fourth quarter and year ended June 30, 2022, before the market opens on Friday, October 7, 2022. The release will be followed by a conference call that same day at 11:30 a.m. Eastern time /10:30 a.m. Central time.

Matrix Service Company Sets New Date for Release of Financial Results for the Fourth Quarter and Fiscal Year Ended June 30, 2022

TULSA, Okla., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or the “Company”) announced today that it will delay the issuance of its fourth quarter earnings and the investor conference call previously scheduled for September 13, 2022 as well as the filing of its annual report on Form 10-K for the fiscal year ended June 30, 2022.

Matrix Service Company to Delay Issuance of Fourth Quarter Earnings and the Filing of Annual Report for the Fiscal Year Ended June 30, 2022

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Given the Fed tightening and the resulting macro uncertainties, many were expecting below par performances, but the second quarter turned out to be better than expected in terms of earnings.

News for Matrix Service Stock (MTRX)