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Why Matrix Service Stock Is Sinking Today

TheMotleyFool

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Why Matrix Service Stock Is Sinking TodayPhoto, wide shot, wide-angle lens, Diversified industrial company, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/3bc2ecaa-ddda-4d9f-865e-4df253bbd22f.png

Shares of Matrix Service (NASDAQ: MTRX) slumped more than 9% by 2:30 p.m. EDT on Wednesday. Weighing on the engineering, construction, and maintenance contractor was its fiscal fourth-quarter and full-year results.

Matrix Service reported $174.9 million of revenue in Q4. While that was 18% higher than the third quarter, it was down nearly 11% year over year and missed the analysts' consensus estimate by $2.3 million. Matrix also missed earnings expectations. The company reported a net loss of $0.40 per share, missing the consensus estimate by $0.37 per share.

Image source: Getty Images.

Source Fool.com

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