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Why Matrix Service Stock Is Up Today

TheMotleyFool

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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

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