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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.
Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, has announced the dates for its first quarter Fiscal 2025 financial results release and conference call. The company will release its results after market close on Wednesday, November 6, 2024.
A conference call to discuss the financial results and forward outlook is scheduled for Thursday, November 7, 2024, at 10:30 a.m. Eastern time/9:30 a.m. Central time. Investors and interested parties can access a live audio-visual webcast through the company's website or a provided webcast link. The conference call will be recorded and available for replay within one hour of completion.
Matrix Service Company (Nasdaq: MTRX) has released its Fiscal 2024 Sustainability Report, highlighting key achievements in advancing sustainability within the organization. The report showcases the company's commitment to operational excellence, financial performance, and meeting stakeholder expectations.
Key highlights include:
- Completion of the company's first Materiality Assessment
- Third-party evaluation and investments in systems and processes for project management, ESG reporting, supply chain compliance, and GHG emissions tracking
- Continued focus on operational excellence and financial performance
- Strengthening of the balance sheet to support business strategy
Matrix has adopted the Sustainability Accounting Standards Board (SASB) reporting standards and began reporting under the Task Force on Climate-related Financial Disclosure (TCFD) recommendations in fiscal 2022. These frameworks aim to provide consistent, comparable, and meaningful sustainability reporting for stakeholders.
Matrix Service Company (Nasdaq: MTRX) reported its Q4 and full-year fiscal 2024 results, showing mixed performance. Key highlights include:
- Total backlog of $1.4 billion, up 31% year-over-year
- Q4 revenue of $189.5 million, down from $205.9 million in Q4 2023
- Q4 net loss of $(0.16) per share, compared to $(0.01) in Q4 2023
- Full-year fiscal 2024 revenue of $728.2 million
- Full-year net loss of $(0.91) per share, improved from $(1.94) in fiscal 2023
The company issued fiscal 2025 revenue guidance of $900-$950 million, indicating expected growth. CEO John Hewitt stated that Matrix is well-positioned for significant improvement in revenue, margins, and earnings in fiscal 2025, citing a strong backlog and streamlined organization.
Matrix Service Company (Nasdaq: MTRX) has announced its participation in the D. A. Davidson 23rd Annual Diversified Industrials & Services Conference. The event is scheduled for September 18-20, 2024 in Nashville, Tennessee. Key attendees from Matrix Service Company include:
- John R. Hewitt, President and CEO
- Kevin Cavanah, VP and CFO
- Kellie Smythe, Senior Director of Investor Relations
Investors have the opportunity to schedule one-on-one meetings with the management team during the conference. These meetings can be arranged through the conference organizers or by directly contacting Matrix Service Company at ir@matrixservicecompany.com.
Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, has announced the dates for its fourth quarter and Fiscal 2024 financial results release and conference call. The company will release its results after market on Monday, September 9, 2024. A conference call to discuss the financial results and forward outlook will be held on Tuesday, September 10, 2024, at 10:30 a.m. Eastern time/9:30 a.m. Central time.
Investors and interested parties can access a live audio-visual webcast through the company's website or a provided webcast link. The conference call will be recorded and available for replay within one hour of completion.
Matrix Service Company (NASDAQ: MTRX), a leading engineering and construction contractor, announced its inclusion in the Russell 3000® Index, effective post-market close on June 28, 2024. This membership will last for one year and includes automatic inclusion in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index, as well as relevant growth and value style indexes. FTSE Russell determines inclusion based on market capitalization and style attributes. President and CEO John R. Hewitt highlighted this milestone as a reflection of the company's commitment to long-term value creation and its strong project backlog, which reached nearly $1.5 billion as of March 31, 2024. The Russell indexes, managed by FTSE Russell, are benchmarks for around $10.5 trillion in assets.
Matrix Service Company (Nasdaq: MTRX) announced that key executives, including President and CEO John R. Hewitt, CFO Kevin Cavanah, and Senior Director of Investor Relations Kellie Smythe, will attend the Stifel Cross-Sector Insight Conference on June 4 and 5, 2024. Attendees can schedule one-on-one meetings with Matrix's management by prior notice, either through the conference or directly via Matrix Service Company's investor relations contact.
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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