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

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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.

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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.

Like the shape-shifters from the Twilight Saga, Matrix Service is protecting its business with the fervor of a wolf. It continues to shift its growth strategy away from crude oil. In reaction to the pandemic, a cost structure review cut overhead costs by 18%, protecting the gross margin in fiscal 2020 despite Matrix not being able to recover overhead costs.

Matrix Service Company As A Shape-Shifter

TULSA, Okla., Sept.  24, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that it has been certified for the fifth consecutive year as a great workplace by the independent analysts at Great Place To Work®. The certification is based on anonymous surveys completed by employees of Matrix Service Company and its subsidiaries. A summary of these results can be found at http://reviews.greatplacetowork.com/matrix-service-company.

Matrix Service Company Certified for Fifth Consecutive Year by Great Place To Work®

TULSA, Okla., Sept.  17, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or “the Company”), a leading North American industrial engineering and construction contractor, 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 Sidoti Virtual Investor Conference which will be held on Wednesday, September 23 and Thursday, September 24, 2020.  

Matrix Service Company to Present at the Sidoti Virtual Investor Conference

TULSA, Okla., Sept.  16, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or “the Company”), a leading North American industrial engineering and construction contractor, 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 DA Davidson 19th Annual Diversified Industrials & Services Conference, which will be held virtually, on Tuesday and Wednesday, September 22 and 23, 2020.

Matrix Service Company to Present at the DA Davidson 19th Annual Diversified Industrials & Services Conference

Matrix Service Company (MTRX) CEO John Hewitt on Q4 2020 Results - Earnings Call Transcript

TULSA, Okla., Sept.  02, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) today reported its financial results for the fourth quarter and year ended June 30, 2020.

Matrix Service Company Announces Fiscal 2020 Fourth Quarter and Full Year Results

TULSA, Okla., Aug.  05, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or “the Company”), a leading North American industrial engineering and construction contractor, will announce results for its Fiscal Year 2020 fourth quarter and year ended June 30, 2020 after the market closes on Wednesday, September 2, 2020. The release will be followed by a conference call on Thursday, September 3, 2020 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, 2020; Announces New Reporting Segments

Company recognized in Top 20 on both Petroleum and Industrial Contractors categories Company recognized in Top 20 on both Petroleum and Industrial Contractors categories

Matrix Ranks in Top 100 on ENR List of Top 400 U.S. Contractors

TULSA, Okla., May  21, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or “the Company”), a leading contractor to the energy and power markets across North America, today announced that its subsidiary, Matrix Service Inc. and a confidential utility, have executed a contract for the engineering, procurement, and construction (“EPC”) of a new liquified natural gas (“LNG”) liquefaction facility in the western United States.

Matrix Service Awarded EPC of LNG Peak Shaving Facility

'When?' Not 'If?' For Matrix Service Company

Matrix Service Company (MTRX) CEO John Hewitt on Q3 2020 Results - Earnings Call Transcript

TULSA, Okla., April  09, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or “the Company”), a leading contractor to energy and power markets across North America, today provided an update regarding the Company’s operations and the impacts of the COVID-19 pandemic and the reduction in crude oil demand.

MATRIX SERVICE COMPANY PROVIDES OPERATIONS UPDATE AND BUSINESS RESPONSE TO COVID-19 PANDEMIC

TULSA, Okla., Feb.  12, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today announced its intent to continue to execute the Company’s previously-announced stock repurchase plan. 

Matrix Service Company Announces Continuation of Share Repurchase Program

Matrix Service Company (MTRX) CEO John Hewitt on Q2 2020 Results - Earnings Call Transcript

TULSA, Okla., Jan.  22, 2020  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2020 second quarter ended December 31, 2019 after the market closes on Wednesday, February 5, 2020. The release will be followed by a conference call on Thursday, February 6, 2020 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 2020

JACKSONVILLE, Fla., Jan.  13, 2020  (GLOBE NEWSWIRE) -- Eagle LNG Partners LLC (“Eagle LNG”), announced today that it has selected Matrix Service Inc. (“Matrix Service”), a subsidiary of Matrix Service Company (Nasdaq: MTRX), for the engineering, procurement, fabrication and construction of a liquefied natural gas (“LNG”) export facility, to be built in Jacksonville, Florida. Eagle LNG's Jacksonville LNG Export Facility, which will require an investment of ~$500 million based on final design, will also utilize Chart Industries’ (Nasdaq: GTLS) IPSMR® technology and liquefaction equipment technology. The facility will have a production capacity of approximately 1.65 million LNG-gallons per day with 12 million LNG-gallons of storage plus a marine terminal and truck-loading capabilities.

Eagle LNG Selects Matrix Service as EPC Contractor to Build Jacksonville LNG Export Facility

Matrix Service Company (MTRX) CEO John Hewitt on Q1 2020 Results - Earnings Call Transcript

Strong operational performance at Matrix Service Company's (MTRX) Storage Solutions segment is likely to have contributed to its fiscal first-quarter 2020 bottom line.

What Awaits Matrix Service Company (MTRX) in Q1 Earnings?

John R. Hewitt signs CEO Action for Diversity & Inclusion™ pledge John R. Hewitt signs CEO Action for Diversity & Inclusion™ pledge

Matrix Service Company CEO Formalizes Commitment to Advancing Inclusion and Diversity in the Workplace

Is  (MTRX) Outperforming Other Oils-Energy Stocks This Year?

Is Matrix Service (MTRX) Outperforming Other Oils-Energy Stocks This Year?

TULSA, Okla., Oct.  24, 2019  (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) will announce results for its Fiscal Year 2020 first quarter ended September 30, 2019 after the market closes on Wednesday, November 6, 2019. The release will be followed by a conference call on Thursday, November 7, 2019 at 10:30 a.m. Eastern time /09:30 a.m. Central time.

Matrix Service Company Sets Date to Discuss Results for the First Quarter of Fiscal 2020

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Is Matrix Service (MTRX) Stock Undervalued Right Now?

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