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Matrix Service Company Sets Date to Discuss Results for the Fourth Quarter and Fiscal Year Ended June 30, 2020; Announces New Reporting Segments
TULSA, Okla., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) (“Matrix” or “the Company”), a leading North American industrial
About this update from Matrix Service Company
[{"type":"text","content":"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.\n The Company will also discuss its decision to realign its reporting segments with the strategic direction of the Company. Effective with the first quarter of Fiscal 2021, the Company’s financial results will be reported under the following three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions. The services by each of these segments is described below. “The reorganization of our segment reporting provides perspective in the ongoing changes in our clients’ end markets, growth areas where we are strategically focused, and better represents the long-term vision for the Company,” said Matrix Service Company President and CEO John R. Hewitt. “We are actively working to optimize our organization to ensure we are well-positioned to provide new and existing client solutions to address their changing business needs.” Services in New Reporting Segments The Utility and Power Infrastructure segment includes services provided in power delivery and power generation, as well as natural gas utility peak shaving. In this segment, we will benefit from structural improvements made in our power delivery and generation business to meet the significant demand for upgraded North American electrical infrastructure. Growth is also expected as we continue to expand our industry leading position in clean energy, providing EPC services for LNG peak shaving facilities. We will also implement strategies to extend our geographic reach and provide new services including those that support demand for renewable power, grid connectivity, battery storage and data cabling and data centers. The Process and Industrial Facilities segment includes front-end engineering design (FEED), engineering, maintenance, turnarounds and capital projects for the refinery industries; midstream natural gas processing; other industrial processing facili...