Matrix Service reports Q4 adjusted EPS (28c) vs. (14c) last year

Reports Q4 revenue $216.38M, consensus $232.25M. “During the fourth quarter, we had continued momentum across multiple large projects, driving 14% year-over-year revenue growth and improved fixed cost absorption,” stated John Hewitt, president and CEO of Matrix Service (MTRX) Company. “Project awards during the quarter grew 6% year-over-year, driven by strong demand within our Utility and Power Infrastructure segment. While broader macroeconomic uncertainty has slowed certain large project decisions, we secured multiple project awards during the fourth quarter, including contracts to upgrade various LNG infrastructure facilities.”