Business has been so strong for Tulsa-based Matrix Service Company that the firm says the backlog is the highest since June of 2018.
A provider of engineering and construction services to the energy and industrial markets, Matrix also received fiscal fourth quarter awards of $464 million and as a result, its backlog reached $1.1 billion in work.
Total awards in fiscal 2023 of over $1.3 billion were also the highest annual total in five years.
“Our large, high quality multi-year backlog is the result of the actions we have taken to focus the business on the core markets aligned with our skills, expertise, and strong brand. Entering fiscal 2024, our backlog supports long-term sustainable revenue and improved earnings,” said Matrix Service Company president and CEO John R. Hewitt.
“The reshaping of the global energy markets, the push towards lower carbon activity, and industrial reshoring all create long-term opportunities for our business that we expect will drive further backlog growth.”
The company will announce fourth quarter and full year results for Fiscal 2023 after market on Monday, September 11, 2023. The company expects results to be in line with consensus.
On Tuesday, September 12, 2023, at 10:30 a.m. Eastern time/9:30 a.m. Central time, Matrix Service Company President and CEO John R. Hewitt and Chief Financial Officer Kevin S. Cavanah will host a conference call to present and discuss the Company’s full year-end financial results and forward outlook.