Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Matrix Service Stock Tumbled Today


On a guardedly bullish Friday for the stock market, many titles closed the day in positive territory, but Matrix Service (NASDAQ: MTRX) wasn't one of them. On the back of a displeasing quarterly earnings release, investors sold out of the stock, and it ended the day down by almost 9%. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) closed relatively flat.

For its fiscal third quarter of 2025, Matrix managed to grow its revenue by 21% on a year-over-year basis to slightly more than $200 million. While doing so, it narrowed its non-GAAP (generally accepted accounting principles) adjusted net loss substantially; this came in at $3.3 million, or $0.12 per share, versus a deficit of $14.6 million in last year's third quarter.

Matrix chalked up the notable revenue gain to strength in its storage and terminal solutions, and utility and power infrastructure segments -- these benefited from execution on large-scale projects.

Continue reading


Source Fool.com

Like: 0
Share

Comments