Matrix Service Company provides engineering, fabrication, construction, maintenance and repair services for energy and industrial infrastructure. The company reports through Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities, covering storage tanks and terminals, power delivery and generation projects, plant maintenance, turnarounds, refining, petrochemical and related industrial work.
Company news commonly covers fiscal results, revenue guidance, backlog, project awards, customer contracts, restructuring actions and executive succession. Updates also describe demand across LNG, natural gas liquids, mining and minerals, power generation, data center-related infrastructure and other large industrial projects.
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Matrix Service Company (Nasdaq: MTRX) announced that its CEO, John R. Hewitt, along with CFO Kevin Cavanah, will present at the Stifel 2020 Virtual Cross Sector Insight Conference on June 10, 2020, at 3:20 p.m. ET. The company, based in Tulsa, Oklahoma, specializes in energy and power market contracting across North America. One-on-one virtual meetings with management can be scheduled for interested investors. Founded in 1984, Matrix has been recognized for its corporate integrity and workplace culture.
Matrix Service Company (Nasdaq: MTRX) reported Q3 fiscal 2020 results with revenues of $248.3 million, down from $358.9 million year-over-year, primarily due to COVID-19 impacts and withdrawal from the iron and steel market. The company recorded a loss of $0.21 per share, contrasting with earnings of $0.33 in the prior year. Strong liquidity remains, with $216.3 million in total liquidity. Backlog stood at $727.1 million. A restructuring plan is expected to yield $40 million in annual savings. Uncertainty remains regarding revenue expectations for the remainder of 2020 and into 2021.
Summary not available.