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Corporate Overview
Matrix Service Company (MTRX) is a distinguished industrial contracting firm with its roots dating back to 1984, headquartered in Tulsa, Oklahoma. It is renowned for its extensive expertise in engineering, construction, and maintenance services, servicing key sectors such as energy, power, petrochemical, industrial, mining, and minerals. With a robust presence across North America and strategic international offices in Sydney and Seoul, Matrix exemplifies technical excellence and operational versatility in the industrial engineering space.
Core Business Areas
Matrix Service Co operates through a well-diversified business model that includes:
- Engineering and Construction: Delivering comprehensive engineering, procurement, fabrication, and construction solutions for large-scale industrial projects.
- Maintenance and Industrial Cleaning: Ensuring optimal performance and longevity of industrial assets with services tailored to high-demand operational environments.
- Storage and Terminal Solutions: Specializing in the design and construction of aboveground storage tanks and specialty vessels, critical to the efficient handling of bulk liquids and gases.
Operational Segments and Market Position
The company divides its operations into three fundamental segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. This segmentation allows Matrix to tailor its services precisely to the market requirements of diverse industries, ensuring strong technical and project management capabilities across its portfolio.
Within a competitive landscape characterized by cost efficiencies and technological innovation, Matrix Service Co differentiates itself by leveraging decades of legacy expertise combined with dynamic, multi-disciplinary service teams and advanced project execution methodologies. The company's structured approach to large-scale projects — often involving complex, custom-fabricated solutions — reinforces its reputation as a dependable industrial contractor that consistently meets rigorous safety and quality standards.
Innovative Engineering and Global Reach
Matrix Service Company’s commitment to engineering excellence is further underscored by its strategic partnerships and technological collaborations. By aligning with industry peers and technology providers, the company optimizes its service delivery in areas such as cryogenic infrastructure and sustainable energy solutions. These collaborative endeavors not only consolidate its market position but also extend its capacity to undertake projects that require sophisticated engineering know-how and precise execution.
Commitment to Quality and Expertise
At the core of Matrix Service Co’s value proposition is its unwavering focus on quality and customer-centric service. The company takes pride in its robust internal frameworks for project management, safety, and operational efficiency. Its diverse portfolio of subsidiaries contributes to a comprehensive service offering that spans from initial design and engineering to the full lifecycle management of industrial facilities.
Strategic Business Model and Industry Insight
Matrix Service Company maintains a balanced approach to securing project awards and executing delivery. With careful bidding discipline and an emphasis on profitable growth, the company aligns its operational practices with market demands while mitigating common industry risks. Its ability to manage and integrate complex projects across multiple regions and technical disciplines highlights a strategic business model based on deep technical expertise, innovative solutions, and a proven track record of success in demanding industrial markets.
This detailed overview illustrates how Matrix Service Company stands as a significant and trusted contractor in the realm of industrial engineering and construction, offering an integrated suite of services that supports the efficient operation and enhancement of critical infrastructure worldwide.
Matrix Service Company (Nasdaq: MTRX) has announced its participation in the upcoming Sidoti March Virtual Investor Conference, scheduled for March 19-20, 2025. The company's leadership team, including President and CEO John R. Hewitt, CFO Kevin Cavanah, and Senior Director of Investor Relations Kellie Smythe, will engage with investors through:
- A presentation scheduled for March 20th at 10:45 a.m. ET
- One-on-one meetings with investors throughout the conference
Interested investors can register for the presentation and meetings through www.sidoti.com/events or by contacting Matrix Service Company directly at ir@matrixservicecompany.com.
Matrix Service Company (MTRX) reported its Q2 FY2025 results with revenue of $187.2 million, up 7% year-over-year. The company posted a net loss of $(0.20) per share compared to $(0.10) in the prior year quarter. Total backlog stood at $1.3 billion with quarterly project awards of $90.5 million.
Storage and Terminal Solutions segment revenue increased 53% to $95.5 million, while Utility and Power Infrastructure segment revenue grew 52% to $61.1 million. However, Process and Industrial Facilities segment revenue decreased to $30.6 million.
The company maintains strong liquidity of $211.7 million with no outstanding debt. Management lowered full-year revenue forecast by approximately 5% due to temporary permitting and project start delays, but expects return to profitability in second half of FY2025 with over 40% year-over-year revenue growth.
Matrix Service Company (Nasdaq: MTRX) has announced the schedule for its second quarter Fiscal 2025 financial results release and conference call. The company will release its financial results after market close on Wednesday, February 5, 2025. A conference call to discuss the results and future outlook will be held on Thursday, February 6, 2025, at 10:30 a.m. Eastern time/9:30 a.m. Central time.
The company will provide access to a live audio-visual webcast through their website's Investor Relations page. The conference call will be recorded and made available for replay within one hour of the live call's completion.
Matrix Service Company (Nasdaq: MTRX) has been awarded engineering, fabrication, and construction work for a 100,000 m3 full containment storage tank project in Gibbstown, New Jersey. The project, awarded by Cashman Preload Cryogenics for Delaware River Partners, features a unique dual-service design capable of storing both Liquid Ammonia and Liquid Propane Gas (LPG). The contract specifically covers the inner steel tank scope and was included in the company's backlog for the first quarter of fiscal 2025.
Matrix Service Company (Nasdaq: MTRX) announced its fiscal 2025 Q1 results, reaffirming its full-year revenue guidance of $900-$950 million. The company reported a total backlog of $1.4 billion and project awards of $148 million, resulting in a book-to-bill ratio of 0.9x. Revenue for the quarter was $165.6 million. However, the company faced a net loss per share of $(0.33) compared to $(0.12) in the prior year, with an adjusted net loss per share of $(0.33) versus $(0.21). Adjusted EBITDA stood at $(5.9) million. Despite these losses, Matrix generated cash flow from operations of $11.9 million and maintained liquidity of $181.2 million with no outstanding debt. The Utility and Power Infrastructure segment saw over 70% YoY revenue growth, while the Process and Industrial Facilities segment experienced a significant decline due to the completion of a large project. Management remains optimistic about converting backlog into revenue and returning to profitability by the end of fiscal 2025.
Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, has announced the dates for its first quarter Fiscal 2025 financial results release and conference call. The company will release its results after market close on Wednesday, November 6, 2024.
A conference call to discuss the financial results and forward outlook is scheduled for Thursday, November 7, 2024, at 10:30 a.m. Eastern time/9:30 a.m. Central time. Investors and interested parties can access a live audio-visual webcast through the company's website or a provided webcast link. The conference call will be recorded and available for replay within one hour of completion.
Matrix Service Company (Nasdaq: MTRX) has released its Fiscal 2024 Sustainability Report, highlighting key achievements in advancing sustainability within the organization. The report showcases the company's commitment to operational excellence, financial performance, and meeting stakeholder expectations.
Key highlights include:
- Completion of the company's first Materiality Assessment
- Third-party evaluation and investments in systems and processes for project management, ESG reporting, supply chain compliance, and GHG emissions tracking
- Continued focus on operational excellence and financial performance
- Strengthening of the balance sheet to support business strategy
Matrix has adopted the Sustainability Accounting Standards Board (SASB) reporting standards and began reporting under the Task Force on Climate-related Financial Disclosure (TCFD) recommendations in fiscal 2022. These frameworks aim to provide consistent, comparable, and meaningful sustainability reporting for stakeholders.
Matrix Service Company (Nasdaq: MTRX) reported its Q4 and full-year fiscal 2024 results, showing mixed performance. Key highlights include:
- Total backlog of $1.4 billion, up 31% year-over-year
- Q4 revenue of $189.5 million, down from $205.9 million in Q4 2023
- Q4 net loss of $(0.16) per share, compared to $(0.01) in Q4 2023
- Full-year fiscal 2024 revenue of $728.2 million
- Full-year net loss of $(0.91) per share, improved from $(1.94) in fiscal 2023
The company issued fiscal 2025 revenue guidance of $900-$950 million, indicating expected growth. CEO John Hewitt stated that Matrix is well-positioned for significant improvement in revenue, margins, and earnings in fiscal 2025, citing a strong backlog and streamlined organization.
Matrix Service Company (Nasdaq: MTRX) has announced its participation in the D. A. Davidson 23rd Annual Diversified Industrials & Services Conference. The event is scheduled for September 18-20, 2024 in Nashville, Tennessee. Key attendees from Matrix Service Company include:
- John R. Hewitt, President and CEO
- Kevin Cavanah, VP and CFO
- Kellie Smythe, Senior Director of Investor Relations
Investors have the opportunity to schedule one-on-one meetings with the management team during the conference. These meetings can be arranged through the conference organizers or by directly contacting Matrix Service Company at ir@matrixservicecompany.com.
Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, has announced the dates for its fourth quarter and Fiscal 2024 financial results release and conference call. The company will release its results after market on Monday, September 9, 2024. A conference call to discuss the financial results and forward outlook will be held on Tuesday, September 10, 2024, at 10:30 a.m. Eastern time/9:30 a.m. Central time.
Investors and interested parties can access a live audio-visual webcast through the company's website or a provided webcast link. The conference call will be recorded and available for replay within one hour of completion.
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