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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 (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.
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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.
Matrix Service Company (Nasdaq: MTRX) announced on September 30, 2022, that it received a notice from Nasdaq regarding non-compliance with filing requirements. The company failed to submit its Annual Report for the fiscal year ending June 30, 2022, by the September 28 deadline. However, this notice has no immediate impact on the trading of MTRX shares. Matrix has until November 28, 2022, to submit a compliance plan to Nasdaq, potentially extending the deadline to March 27, 2023, for filing. The company aims to file the 10-K in early October 2022, maintaining compliance with SEC obligations.
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.