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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.
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Matrix (TASE: MTRX) has appointed Idan Keret as the new Executive Director of Financial Services at its subsidiary, *Matrix USA*, focusing on North America and Europe. With over 20 years of experience, Keret aims to enhance Matrix's offerings in areas like cybersecurity, cloud computing, and financial crime prevention. Matrix, a leading tech services company, boasts 11,500 employees and a history of over 100 mergers and acquisitions since its inception in 2001. Its stock is included in the TA-125 index, recognized for its strong dividend yield and industry leadership for over 17 years.
Matrix Service Company (Nasdaq: MTRX) reported a strong second quarter for fiscal 2023, with revenue reaching $193.8 million, a 20% increase from the previous year. Project awards totaled $318.7 million, marking the highest level since Q1 2020, resulting in a book-to-bill ratio of 1.6. However, the quarter faced challenges with a $9.6 million adjustment on a legacy project and a $12.3 million goodwill impairment, causing a net loss of $32.8 million, or $1.22 per share. Despite these setbacks, the company's backlog grew by 25% to $740.5 million, driven by robust project awards and a positive outlook for future revenue growth.
Matrix Service Company (Nasdaq: MTRX) announces the rescheduling of its second quarter Fiscal 2023 results release to occur before market on February 9, 2023, followed by a conference call at 10:30 a.m. Eastern time. This call will feature John R. Hewitt, President and CEO, and Kevin S. Cavanah, Vice President and CFO. The live webcast for this event will be accessible via the Company’s Investor Relations page. Matrix Service Company operates in three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.
Matrix Service Company (Nasdaq: MTRX) has announced that its subsidiary has secured a significant contract for a 600,000 barrel cryogenic ethane storage tank for Enterprise Products, located along the Texas Gulf Coast. This project, included in the company’s backlog for the first quarter of Fiscal 2023, supports the rising global demand for ethane as a petrochemical feedstock. Engineering work will be performed by Matrix PDM Engineering. The CEO noted the ongoing trust from Enterprise and emphasized the company’s leadership in cryogenic infrastructure and growing downstream project opportunities.
Matrix Service Company (Nasdaq: MTRX) will release its Q2 Fiscal 2023 results on February 7, 2023, after market close. A conference call with CEO John R. Hewitt and CFO Kevin S. Cavanah will follow on February 8, 2023, at 10:30 a.m. ET. The call will be accessible via a webcast link. Matrix operates in three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. The company emphasizes sustainability and strong ESG practices.
Matrix Service Company (MTRX) reported Q1 fiscal 2023 revenue of $208.4 million, a 24% increase year-over-year. Project awards reached $234.6 million, leading to a book-to-bill ratio of 1.1 and a backlog of $615.7 million. Adjusted EBITDA improved to $0.8 million from a loss of $12.0 million in the prior quarter. The net loss narrowed to $6.5 million or $0.24 per share.
Management expects continued improvement in revenue and margins due to strong project execution and a growing backlog.
Matrix Service Company (MTRX) announced that its subsidiary, Matrix NAC, will undertake engineering, procurement, and construction upgrades to a LNG peak shaving facility for a major utility in the Mid-Atlantic U.S. The project, which includes a new gas liquefaction and vaporization system, is expected to be included in the backlog for Q2 of Fiscal 2023. The company emphasizes its 60 years’ experience in cryogenic infrastructure and aims to deliver the project safely, on time, and on budget.
Matrix Service Company (MTRX) will release its fiscal Q1 2023 financial results on November 7, 2022, after market close. A conference call will follow on November 8, 2022, at 10:30 AM Eastern Time. The call will feature President and CEO John R. Hewitt and Vice President and CFO Kevin S. Cavanah, and it will be accessible via a webcast link on the company’s website. Matrix operates in three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions, emphasizing sustainability and strong ESG practices.
Matrix Service Company (Nasdaq: MTRX) reported a 13% revenue increase in Q4 2022, totaling $200.7 million, with full-year revenue at $707.8 million. Project awards reached $196 million in Q4, achieving a book-to-bill ratio of 1.0 and a full-year ratio of 1.2. Despite a backlog growth of 27%, gross margins were low, with Q4 at 0.4%. The company recorded a net income of $13.5 million, or $0.50 per diluted share. A significant sale of a facility generated a $32.4 million gain. Liquidity stood at $94.8 million, contributing to an optimistic outlook for future growth.
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