Matrix Svc Co Stock Price, News & Analysis

Matrix Service Company (Nasdaq: MTRX) is set to announce its Fiscal Year 2022 fourth quarter results on October 7, 2022, before market opening. This follows a delay in filing its 10-K due to an ongoing review of internal controls. The earnings call will include insights from President and CEO John R. Hewitt and CFO Kevin S. Cavanah. Matrix operates in three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions, and has a growing focus on sustainability and ESG practices.

Matrix Service Company (Nasdaq: MTRX) has delayed the issuance of its fourth quarter earnings and annual report due to a misallocation of employee support time. Although management found the misallocated amount immaterial, the Audit Committee has engaged third-party advisors to review internal controls. The filing of the Form 10-K, initially due on September 13, 2022, is now extended to September 28, 2022, but there is no assurance that this deadline will be met. Further details regarding the rescheduled earnings call will follow in a separate announcement.

Matrix Service Company (Nasdaq: MTRX) will announce its Fiscal Year 2021 fourth quarter and annual results on September 12, 2022, after market close. A conference call is scheduled for September 13, 2022, at 10:30 a.m. Eastern Time, featuring CEO John R. Hewitt and CFO Kevin S. Cavanah. This event will be accessible via the Company's website, allowing investors to better understand financial performance across its segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

Matrix Service Company (Nasdaq: MTRX) announced its subsidiary, Matrix Service Inc., has been awarded two EPC projects by Northrop Grumman for thermal vacuum chambers. The Gilbert, Arizona project, part of Northrop's satellite operations expansion, includes a state-of-the-art thermal vacuum chamber, with work awarded in Q4 FY2022. Additionally, a modernization EPC project is underway at Space Park in Redondo Beach, California. Matrix has a rich history in thermal vacuum chamber design and construction, having completed over 70 such projects, enhancing its standing as a leader in this sector.

Matrix Service Company (Nasdaq: MTRX) announced its participation in the Sidoti Summer Virtual Small Cap Investor Conference on June 15, 2022. President Kevin Cavanah and CFO Kellie Smythe will present, with opportunities for one-on-one meetings available for interested investors. Headquartered in Tulsa, Oklahoma, 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, earning recognition as a Top Contractor and a Great Place to Work.

Matrix Service Company (MTRX) announced that its Vice President and CFO, Kevin Cavanah, alongside Senior Director of Investor Relations, Kellie Smythe, will present at the Stifel 2022 Cross Sector Insight Conference on June 7, from 4:45 to 5:15 p.m. EST. Attendees can arrange one-on-one meetings with management in advance by contacting Stifel or Matrix directly. Matrix, a leader in industrial engineering and construction, maintains a focus on sustainability while being recognized for its strong ESG practices.

Matrix Service Company (Nasdaq: MTRX) has appointed Jose Luis Martin de Bustamante to its Board of Directors, expanding the board from seven to eight members. Bustamante, with extensive leadership experience from Fluor Corporation, brings valuable expertise in business development and managing large projects across various international markets. His appointment aligns with the company’s growth strategy in diverse sectors, underlining a commitment to a diverse board with 37.5% gender or ethnic diversity. This move is anticipated to enhance Matrix's operational capabilities.

Matrix Service Company (Nasdaq: MTRX) announced its subsidiary, Matrix Service Inc., has secured a contract from Hensel Phelps for the engineering, procurement, and construction of three jet fuel storage tanks at Houston Hobby Airport. This expansion will increase fuel capacity by 120,000 barrels. Construction is set to begin in early July 2022, with all tanks operational by late 2022. CEO John R. Hewitt emphasized their commitment to safety and quality, marking a significant first collaboration with Hensel Phelps.

Matrix Service Company (MTRX) has commenced construction on a Small-Scale Boron Facility for 5E Advanced Materials, Inc. in Newberry Springs, California. This facility aims to produce boron, a crucial component for decarbonization technologies, marking the first U.S. boron production in over 50 years. Scheduled to be operational by late 2022, it will enable technology partnerships and advanced material development. The project signifies a strategic move towards securing domestic material sources critical for energy transition and food security applications.