Why Matrix Service Stock Is Up Today
Energy infrastructure company Matrix Service (NASDAQ: MTRX) reported a strong quarter and gave upbeat guidance about what is to come. Investors are intrigued, sending Matrix shares up more than 12% in Tuesday trading.
Matrix provides engineering, construction, and maintenance services for the energy and mining markets, with a focus on utilities infrastructure, refineries, and storage and terminal solutions. The company reported an adjusted loss of $1.13 per share in its fiscal fourth quarter, which ended June 30, which was 10 cents better than estimates.
Revenue of $795.02 million came in just shy of what Wall Street had expected and was up 12.3% year over year. In a statement, CEO John R. Hewitt said:
Source Fool.com
