Matrix Service Company Announces Receipt Of $464M Of Awards In Q4 And Ending Backlog of $1.1B
Portfolio Pulse from Happy Mohamed
Matrix Service Company (NASDAQ:MTRX) announced that it has received fiscal fourth quarter awards of $464 million, resulting in a backlog of $1.1 billion as of June 30, 2023. This is the largest backlog since June 30, 2018. The company also reported total awards in fiscal 2023 of over $1.3 billion, the highest annual total in five years. The company expects its Q4 and full year results for Fiscal 2023 to be in line with consensus.
August 21, 2023 | 8:08 pm
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POSITIVE IMPACT
Matrix Service Company's announcement of a significant backlog and high total awards for fiscal 2023 indicates a strong financial performance. This could potentially lead to a positive impact on its stock price.
Matrix Service Company's announcement of a significant backlog and high total awards for fiscal 2023 indicates a strong financial performance. This could potentially lead to a positive impact on its stock price as it shows the company's ability to secure and deliver on large contracts, which is a positive sign for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100