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ENTERPRISE PRODUCTS AWARDS MATRIX SERVICE EPC FOR A SECOND ETHANE STORAGE TANK ALONG THE TEXAS GULF COAST

TULSA, Okla., March 29, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix Service, has been awarded the greenfield engineering, procurement, and construction of a second 600,000-barrel cryogenic ethane storage tank for a subsidiary of Enterprise Products Partners L.P. along the Texas Gulf Coast. The project, which was taken into Matrix’s backlog in the second quarter of Fiscal 2023, supports a continued demand for ethane in the global marketplace. Engineering for the storage tank will be completed by Matrix PDM Engineering.

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MATRIX SERVICE COMPANY REPORTS SECOND QUARTER FISCAL 2023 RESULTS

TULSA, Okla., Feb. 09, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its second quarter of fiscal 2023.

Key highlights:

• Second quarter revenue of $193.8 million, an increase of 20% compared to the second quarter of fiscal 2022
• Project awards in the quarter of $318.7 million, the highest level since the first quarter of fiscal 2020
• Project awards produced a book-to-bill of 1.6 for the quarter and above 1.3 in each of our reporting segments reflecting accelerating activity across our end markets
• Backlog increased by 25% to $740.5 million compared to the second quarter of fiscal 2022
• Second quarter results were negatively impacted by $9.6 million adjustment on a legacy project and a related goodwill impairment charge of $12.3 million, resulting in an aggregate negative impact of $0.82 per share
• Loss per share of $1.22; adjusted loss per share of $0.53⁽¹⁾
• Adjusted EBITDA loss of $(13.1) million⁽¹⁾ for the second quarter of fiscal 2023

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MATRIX SERVICE COMPANY UPDATES TIMING FOR RELEASE OF FINANCIAL RESULTS FOR THE SECOND QUARTER OF FISCAL 2023

TULSA, OK – February 7, 2023 – Matrix Service Company (Nasdaq: MTRX) previously announced release of results for the second quarter of Fiscal 2023 after market on Tuesday, February 7, 2023, followed by a conference call Wednesday, February 8, 2023. The Company now intends to release results for the second quarter of Fiscal 2023 before market on Thursday, February 9, 2023.  The release will be followed by a conference call at 10:30 a.m. Eastern time/9:30 a.m. Central time on Thursday, February 9, 2023.

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ENTERPRISE PRODUCTS AWARDS MATRIX SERVICE EPC FOR ETHANE STORAGE TANK ALONG THE TEXAS GULF COASTMATRIX SERVICE COMPANY SETS DATE FOR RELEASE OF FINANCIAL RESULTS FOR THE SECOND QUARTER OF FISCAL 2023

TULSA, Okla., February 1, 2023 – Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix Service, has been awarded the greenfield engineering, procurement, and construction of a 600,000 barrel cryogenic ethane storage tank for Enterprise Products along the Texas Gulf Coast. The project, which was taken into Matrix’s backlog in the first quarter of Fiscal 2023, supports a continued demand for ethane in the global marketplace.  Engineering for the storage tank will be completed by Matrix PDM Engineering.

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MATRIX SERVICE COMPANY SETS DATE FOR RELEASE OF FINANCIAL RESULTS FOR THE SECOND QUARTER OF FISCAL 2023

TULSA, OK – January 24, 2023 – Matrix Service Company (Nasdaq: MTRX) will announce results for the second quarter of Fiscal 2023 after market on Tuesday, February 7, 2023.  The release will be followed by a conference call on Wednesday, February 8, 2023, at 10:30 a.m. Eastern time/9:30 a.m. Central time.

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MATRIX SERVICE COMPANY REPORTS FIRST QUARTER FISCAL 2023 RESULTS

TULSA, OK – November 7, 2022 – Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its first quarter of fiscal 2023.

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