Welcome to our dedicated page for Matrix Svc Co news (Ticker: MTRX), a resource for investors and traders seeking the latest updates and insights on Matrix Svc Co stock.
Matrix Service Company (MTRX) provides essential engineering and construction solutions for critical energy, power, and industrial infrastructure projects. This news hub offers investors and industry professionals centralized access to official corporate developments, financial updates, and operational milestones.
Track timely updates including quarterly earnings reports, major contract awards, and strategic partnership announcements. Stay informed about the company's progress in key operational segments like utility infrastructure development and specialized storage solutions across North America and international markets.
All content is sourced directly from verified corporate communications and regulatory filings. For comprehensive monitoring of MTRX's industrial contracting activities and market position, bookmark this page for regular updates.
Matrix Service Company (Nasdaq: MTRX) reported its third-quarter fiscal 2024 results with a total backlog of $1.45 billion, a 74% increase year-over-year, the highest in company history. Revenue declined by 11% to $166.0 million, with adjusted EBITDA at ($9.8) million. Despite the revenue drop, cash flow from operations increased by 25% to $25 million. The company remains optimistic about future project activity and profitability, with a focus on maintaining strong bidding discipline. Matrix anticipates improved fixed cost absorption and margin expansion as projects in backlog convert to revenue. Key growth areas include transmission and distribution, specialty storage and terminals, and energy transition markets. The company maintains a strong financial position with cash and credit availability of $135.0 million and no outstanding debt.
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