Matrix Svc Co Stock Price, News & Analysis

Matrix Service Company (MTRX) announced its subsidiary has been awarded a contract for engineering, fabrication, and construction of seven storage tanks at Calumet Specialty Products Partners' facility in Great Falls, Montana. This project is aimed at supporting the production of renewable fuels, expected to generate up to 12,000 barrels per day. The facility is scheduled to commence operations in the second quarter of 2022. Matrix Service aims to deliver this project safely, on time, and on budget, contributing to North America's energy transition.

Matrix Service Company (Nasdaq: MTRX) announced on October 13, 2021, that its subsidiary Matrix NAC secured multiple contracts totaling approximately $50 million for electrical infrastructure work in the first quarter of Fiscal 2022. Projects include substation rebuilds, relay upgrades, and fiber installation. CEO John R. Hewitt emphasized the company's trusted brand position in the northeastern U.S. The company has also enhanced its Contractor of Choice relationships, further supporting market growth.

Matrix Service Company (MTRX) reported an 18% revenue increase in Q4 2021, totaling $174.9 million, compared to $148.3 million in Q3. Full-year revenue reached $673.4 million. The company secured $99.1 million in project awards, leading to a backlog of $462.6 million. Despite a net loss of $10.7 million and a loss per share of $0.40 due to project-related costs and a settlement, the company maintains a strong balance sheet with $83.9 million in cash and no debt. A $100 million credit facility will enhance financial flexibility.

Matrix Service Company (Nasdaq: MTRX) announced that President and CEO John R. Hewitt, along with CFO Kevin Cavanah, will present at the D.A. Davidson 20th Annual Diversified Industrials & Services Conference on September 22, 2021, at 5 PM ET, and the Sidoti Fall Small Cap Investor Conference on September 23, 2021, at 10 AM ET. One-on-one meetings are available with prior notice. Matrix provides industrial engineering and construction services and emphasizes sustainability, ranking among the Top Contractors by Engineering-News Record.

Matrix Service Company (Nasdaq: MTRX) is set to announce its Fiscal Year 2021 fourth quarter and annual results after market close on September 13, 2021. A follow-up conference call will occur on September 14 at 10:30 a.m. Eastern Time, featuring President and CEO John R. Hewitt and CFO Kevin S. Cavanah. The call will be broadcast live online, with a replay available shortly after. Matrix is a prominent North American engineering and construction contractor with diverse operations across various sectors, emphasizing sustainability and strong ESG practices.

Matrix Service Company (Nasdaq: MTRX) announced that its President and CEO, John R. Hewitt, along with CFO Kevin Cavanah, will participate in the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 12:00 p.m. EST. The presentation will be available online via the Stifel Webcast link. One-on-one meetings with management can be scheduled in advance through Stifel or by contacting Matrix directly.

Matrix is recognized for its commitment to sustainability and strong ESG practices, ranking among the Top 100 Contractors by Engineering-News Record.

Matrix Service Company (MTRX) reported third-quarter fiscal 2021 revenue of $148.3 million, down from $248.3 million the previous year. The company experienced a loss of $0.49 per fully diluted share, with an adjusted loss of $0.43. A 0.9 book-to-bill ratio resulted in a backlog of $538.3 million. The impact of COVID-19 and severe weather affected project deliveries, but cost reductions of $60 million and a strong cash position of $73.8 million without debt set a foundation for potential recovery as market conditions improve.

Matrix Service Company (Nasdaq: MTRX) will announce its Fiscal Year 2021 third quarter results on May 10, 2021, after market close. A conference call is scheduled for May 11, 2021, at 10:30 a.m. Eastern Time, featuring CEO John R. Hewitt and CFO Kevin S. Cavanah. The call will be available for live streaming and replays on the company’s website. Matrix operates in key segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions, emphasizing sustainability and strong governance practices.