Matrix Service Company Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2023
May 08, 2023 at 04:05 pm EDT
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Matrix Service Company reported earnings results for the third quarter and nine months ended March 31, 2023. For the third quarter, the company reported sales was USD 186.9 million compared to USD 177 million a year ago. Net loss was USD 12.69 million compared to USD 34.9 million a year ago. Basic loss per share from continuing operations was USD 0.47 compared to USD 1.3 a year ago. Diluted loss per share from continuing operations was USD 0.47 compared to USD 1.3 a year ago.
For the nine months, sales was USD 589.17 million compared to USD 507.06 million a year ago. Net loss was USD 52.03 million compared to USD 77.36 million a year ago. Basic loss per share from continuing operations was USD 1.93 compared to USD 2.9 a year ago. Diluted loss per share from continuing operations was USD 1.93 compared to USD 2.9 a year ago.
Matrix Service Company, through its subsidiaries, is an industrial engineering, construction, and maintenance contractor operating in North America. The Companyâs segments include Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. Its Storage and Terminal Solutions primarily consists of engineering, procurement, fabrication, and construction services related to cryogenic and other specialty tanks and terminals. This segment also includes terminal balance of plant work. Its Utility and Power Infrastructure segment primarily consists of engineering, procurement, fabrication, and construction services to support growing demand for LNG utility peak shaving facilities. Its Process and Industrial Facilities consists of 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.
MATRIX SERVICE COMPANY 
