Matrix Service

Matrix Service Co. engages in the provision of engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. It operates through the following segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. The Utility and Power Infrastructure segment offers power delivery services to investor-owned utilities including construction of new substations, upgrades of existing substations, transmission and distribution line installation, upgrades and maintenance, and emergency and storm restoration services. The Process and Industrial Facilities segment provides services in the downstream and midstream petroleum industries, which engages in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. The Storage and Terminal Solutions segment focuses on work related aboveground storage tanks and terminals. The company was founded by Bill Lee, Doyl D. West, Harold Morgan, and Martin Lee Rinehart on April 4, 1984 and is headquartered in Tulsa, OK.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Matrix Service Company reports strong Q3 momentum despite cost challenges

Matrix Service Company demonstrated strong project award momentum and a healthy backlog increase, but faced challenges with cost management and revenue in certain segments. The increase in liquidity and positive outlook for future backlog and revenue growth provide optimism for the company's performance in the coming years.

Matrix Service reports mixed Q2 results, eyes clean energy opportunities

Matrix Service Company navigated challenges in Q2 2023, focusing on safety, securing significant awards, and maintaining a positive outlook for the future. Despite financial setbacks, the company's strong project backlog and liquidity improvements provide a solid foundation for growth. Addressing challenges and capitalizing on opportunities in clean energy will be key for future success.

Matrix Service reports robust project growth and improved liquidity

Matrix Service demonstrated strong project awards and backlog growth in Q3 2023.
While facing challenges in profitability and net losses, the company's liquidity improved.
Opportunities in hydrogen infrastructure projects and a substantial project pipeline position Matrix for future growth.

Matrix Service reports strong Q4 awards and revenue growth

Matrix Service's Q4 2023 performance reflected significant revenue growth and a notable increase in ending backlog, despite a net loss. The company's focus on safety culture, strategic positioning in LNG, and strong backlog diversification are key strengths. Challenges persist in achieving profitability, but opportunities for growth in fiscal 2024 are promising.

Matrix Service reports strong project awards and backlog growth

Matrix Service Company's Q1 2024 performance reflects robust project awards and backlog growth, despite a net loss, showcasing operational resilience and market potential.
While facing financial challenges and operational inefficiencies, the company's strategic strengths in safety, backlog expansion, and financial stability position it for future success.
Opportunities lie in market diversification, revenue expansion through energy projects, and operational improvements, signaling a positive outlook for Matrix Service Company.

Matrix Service reports record backlog and strategic growth initiatives

Matrix Service's Q2 performance reflects revenue impacts from project timing but anticipates growth in subsequent quarters, driven by a strong opportunity pipeline.
The company's strategic focus on energy markets, operational improvements, and cost management efforts position it for profitability and growth in the future.
While facing challenges in achieving profitability and managing project impacts, Matrix Service remains optimistic about its financial performance and market positioning.

Matrix Service reports mixed Q3 results, eyes revenue growth

Matrix Service navigated through revenue challenges in Q3, but remains optimistic about revenue improvement and profitability in the upcoming quarters. With a strong backlog and focus on key markets, the company is poised for growth through infrastructure projects and LNG opportunities.

Matrix Service posts robust Q4 results, eyes strong 2025 growth

Matrix Service reported a strong Q4 performance with increased backlog and new project awards, setting the stage for revenue growth in 2025.
Despite challenges like under-recovered construction overhead costs, the company's focus on key megatrends and a robust opportunity pipeline bode well for future success.
With a strengthened balance sheet, healthy cash position, and optimistic revenue guidance, Matrix Service is poised for growth and profitability in the coming years.

Matrix Service Q1 2025: Revenue Challenges Amid Growth Opportunities

Matrix Service faced revenue challenges in Q1 but maintains a strong backlog and revenue guidance for fiscal 2025.
The company anticipates profitability in fiscal 2025 and sees growth opportunities in key segments.
Analysts raised concerns about expenses and project timing, while executives highlighted positive impacts from the administration change.
With solid liquidity and a focus on key growth areas, Matrix Service aims for a resilient performance.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Matrix Service Co. engages in the provision of engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. It operates through the following segments: Storage and Terminal Solutions, Utility and Power Infrastructure, Process and Industrial Facilities, and Corporate. The Storage and Terminal Solutions segment consists of engineering, procurement, fabrication, and construction services related to cryogenic and other specialty tanks and terminals for LNG, NGLs, hydrogen, ammonia, propane, butane, liquid nitrogen and oxygen, and liquid petroleum. The Utility and Power Infrastructure segment is involved in engineering, procurement, fabrication, and construction services to support growing demand for LNG utility peak shaving facilities. The Process and Industrial Facilities segment refers to plant maintenance, repair, and turnarounds in the downstream and midstream markets for energy clients including refining and processing of crude oil, fractionating, and marketing of natural gas and natural gas liquids. The company was founded by Bill Lee, Doyl D. West, Harold Morgan, and Martin Lee Rinehart on April 4, 1984, and is headquartered in Tulsa, OK.

TULSA, Okla., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc., has been awarded the engineering, fabrication and construction of seven (7) storage tanks at Calumet Specialty Products Partners, L.P. facility in Great Falls, Montana. The award was made in the first quarter of Fiscal 2022. The tanks are being constructed to support the production of up to 12,000 barrels per day of renewable fuels. Engineering related to the project will be completed by Matrix Service sister company, Matrix PDM Engineering.

Calumet Specialty Products Partners, L.P. Awards Matrix Service Engineering, Fabrication and Construction of Multiple Storage Tanks at Great Falls Renewable Fuels Facility

TULSA, Okla., Oct. 13, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that in the first quarter of Fiscal 2022, its subsidiary, Matrix NAC, has been awarded multiple contracts for electrical infrastructure work that, in aggregate, totals approximately $50 million. Among the projects are substation rebuilds, relay upgrades, and fiber installation.

Matrix NAC Awarded Multiple Electrical Infrastructure Contracts in the First Quarter of Fiscal 2022

TULSA, Okla., Sept. 22, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today released its inaugural Sustainability Report, focused on the Company's Environmental, Social and Governance (ESG) commitments, strategic objectives, and accomplishments.

Matrix Service Company Publishes Inaugural Sustainability Report

Matrix Service Company (MTRX) CEO John Hewitt on Q4 2021 Results - Earnings Call Transcript

The engineering, construction, and maintenance contractor disappointed investors.

Why Matrix Service Stock Is Sinking Today

TULSA, Okla., Sept. 13, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) today reported its financial results for the fourth quarter and year ended June 30, 2021.

Matrix Service Company Announces Fiscal 2021 Fourth Quarter and Full Year Results

TULSA, Okla., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R. Hewitt and Vice President and Chief Financial Officer Kevin Cavanah will be presenting at the D.A. Davidson 20th Annual Diversified Industrials & Services Conference on September 22, 2021 at 5pm Eastern Standard Time and at the Sidoti Fall Small Cap Investor Conference on September 23, 2021 at 10:00 a.m. Eastern Standard Time. One-on-one meetings with management are available during both conferences with prior notice and may be scheduled through the conferences or by contacting Matrix Service Company at ir@matrixservicecompany.com.

Matrix Service Company To Present at Upcoming D.A. Davidson and Sidoti Virtual Investor Conferences

TULSA, Okla., Aug. 30, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2021 fourth quarter and year ended June 30, 2021 after the market closes on Monday, September 13, 2021. The release will be followed by a conference call on Tuesday, September 14, 2021 at 10:30 a.m. Eastern time /09:30 a.m. Central time.

Matrix Service Company Sets Date to Discuss Results For The Fourth Quarter and Fiscal Year Ended June 30, 2021

TULSA, Okla., June 03, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R. Hewitt and Vice President and Chief Financial Officer Kevin Cavanah will be participating in the Stifel 2021 Virtual Cross Sector Insight Conference on Thursday, June 10, 2021.

Matrix Service Company to Present at the Stifel 2021 Virtual Cross Sector Insight Conference

Matrix Service Co (MTRX) CEO John Hewitt on Q3 2021 Results - Earnings Call Transcript

Shares of Matrix Service (NASDAQ:MTRX) were flat in after-market trading after the company reported Q3 results. Quarterly Results Earnings per share decreased 2050.00% over the past year to ($0.43), which missed the estimate of $0.01.

Matrix Service: Q3 Earnings Insights

TULSA, Okla., May 10, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its third quarter of fiscal 2021.

Matrix Service Company Reports Third Quarter Fiscal 2021 Results

Matrix is an overlooked clean energy name, repositioning itself to grow with hydrogen markets.

Matrix: A Clean Energy, Infrastructure Play Priced Near Tangible Book Value

TULSA, Okla., April 28, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2021 third quarter ended March 31, 2021 after the market closes on Monday, May 10, 2021. The release will be followed by a conference call on Tuesday, May 11, 2021 at 10:30 a.m. Eastern time /09:30 a.m. Central time.

Matrix Service Company Sets Date to Discuss Results for the Third Quarter of Fiscal 2021

Matrix Service Company (MTRX) CEO John Hewitt on Q2 2021 Results - Earnings Call Transcript

Shares of Matrix Service (NASDAQ:MTRX) moved lower in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share fell 115.79% year over year to ($0.03), which missed the estimate of ($0.02).

Recap: Matrix Service Q2 Earnings

TULSA, Okla., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc. (“Matrix Service”) has been selected by American Pacific Borates Limited (“American Pacific” or “APB”) for the first phase of construction of its Fort Cady Borate Mine Facility in southern California. When completed, Phase One A is targeted to produce 20,000 short tons per annum (stpa) of potassium sulfate and 9,000 stpa of boric acid, with amounts increasing in subsequent phases.

American Pacific Borates Limited Selects Matrix Service to Construct Fort Cady Borate Mine Facility

TULSA, Okla., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its second quarter of fiscal 2021.

Matrix Service Company Reports Second Quarter Fiscal 2021 Results

TULSA, Okla., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2021 second quarter ended December 31, 2020 after the market closes on Monday, February 8, 2021. The release will be followed by a conference call on Tuesday, February 9, 2021 at 10:30 a.m. Eastern time /09:30 a.m. Central time.

Matrix Service Company Sets Date to Discuss Results for the Second Quarter of Fiscal 2021

TULSA, Okla., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading North American industrial engineering and construction contractor, announced that its subsidiary Matrix Service has been awarded the construction of a new water recovery process facility for Corteva Agriscience, a publicly traded, global pure-play agriculture company, at its Pittsburg, Calif. location. Construction on the project, which was taken into backlog in the first quarter of fiscal 2021, has commenced and includes process piping and steel fabrication, and all civil, mechanical and electrical construction.

Corteva Agriscience Awards Matrix Service Construction of Water Recovery Process Facility

Matrix Service Company and Chart Industries signed an MOU on January 12th to develop standardized hydrogen solutions in North America. Matrix's share price jumped 25% in response. The hydrogen solutions market is far from mature. The global demand for cleaner energy is propelling its growth.

It's Not Too Late To Consider Matrix Service Company

Chart Industries

ATLANTA, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (“Chart”) (Nasdaq: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and clean energy industries today signed a Memorandum of Understanding (“MOU”) with Matrix Service Company (NASDAQ: MTRX) for the development of standardized hydrogen solutions in North America, including hydrogen liquefaction plants, marine bunkering, fueling stations, plant expansions, storage expansion, spaceship fueling and other hydrogen related facilities. Matrix Service Company (“Matrix”) is a leading contractor to the energy and industrial markets across North America. Through its subsidiaries, Matrix provides engineering, procurement, fabrication, and construction (“EPFC”), as well as maintenance and products to the energy and industrial markets, with specific experience engineering, procuring and constructing cryogenic and pressure storage vessels, terminals and related balance of plant facilities which complements Chart's extensive hydrogen liquefaction and equipment offering.

Chart Industries and Matrix Service Company Execute Commercial Hydrogen Memorandum of Understanding

Matrix Service Company (MTRX) CEO John Hewitt on Q1 2021 Results - Earnings Call Transcript

TULSA, Okla., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its first quarter of fiscal 2021.

Matrix Service Company Reports First Quarter 2021 Results

TULSA, Okla., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2021 first quarter ended September 30, 2020 after the market closes on Wednesday, November 4, 2020. The release will be followed by a conference call on Thursday, November 5, 2020 at 10:30 a.m. Eastern time /09:30 a.m. Central time.

News for Matrix Service Stock (MTRX)