Why Matrix Service Stock Is Sinking Today

Shares of Matrix Service (NASDAQ:MTRX) slumped more than 9% by 2:30 p.m. EDT on Wednesday. Weighing on the engineering, construction, and maintenance contractor was its fiscal fourth-quarter and full-year results.

So what

Matrix Service reported $174.9 million of revenue in Q4. While that was 18% higher than the third quarter, it was down nearly 11% year over year and missed the analysts’ consensus estimate by $2.3 million. Matrix also missed earnings expectations. The company reported a net loss of $0.40 per share, missing the consensus estimate by $0.37 per share.

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