Business
Matrix Service Company Announces Receipt of $464 Million of Awards in Fiscal Fourth Quarter and Ending Backlog of $1.1B
Company sets dates for release of fourth quarter and fiscal 2023 financial results and related conference call TULSA, Okla., Aug. 21, 2023 (GLOBE NEWSWIRE) --
About this update from Matrix Service Company
[{"type":"text","content":"Company sets dates for release of fourth quarter and fiscal 2023 financial results and related conference call\nTULSA, Okla., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it has received fiscal fourth quarter awards of $464 million, resulting in $1.1 billion in backlog as of June 30, 2023, the largest backlog since June 30, 2018. Total awards in fiscal 2023 of over $1.3 billion were also the highest annual total in five years. “Our large, high quality multi-year backlog is the result of the actions we have taken to focus the business on the core markets aligned with our skills, expertise, and strong brand. Entering fiscal 2024, our backlog supports long-term sustainable revenue and improved earnings. The reshaping of the global energy markets, the push towards lower carbon activity, and industrial reshoring all create long-term opportunities for our business that we expect will drive further backlog growth,” said Matrix Service Company president and CEO John R. Hewitt. “Our strong business prospects are the result of the dedication and hard work of our teams in transforming our organization to ensure we are better able to safely execute with a more efficient cost structure and better operating processes while maintaining best in class quality for our customers.” The Company will announce fourth quarter and full year results for Fiscal 2023 after market on Monday, September 11, 2023. The Company expects results to be in line with consensus. On Tuesday, September 12, 2023, at 10:30 a.m. Eastern time/9:30 a.m. Central time, Matrix Service Company President and CEO John R. Hewitt and Chief Financial Officer Kevin S. Cavanah will host a conference call to present and discuss the Company’s full year-end financial results and forward outlook. Earnings Conference Call instructions Investors and other interested parties can access a live audio-visual webcast using this webcast link, or through the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The conference call will be recorded and ...