Matrix Service Company, the North American industrial engineering and construction contractor, will announce results for its Fiscal Year 2020 fourth quarter and year ended June 30, 2020 after the market closes on September 2, 2020.
The release will be followed by a conference call on Thursday, September 3, 2020 at 10:30 am (Eastern time). At the same time, Matrix said it will also discuss its decision to realign its reporting segments with the strategic direction of the company.
Effective with the first quarter of fiscal 2021, the company’s financial results will be reported under the following three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.
Matrix President and CEO John R. Hewitt said: “The reorganisation of our segment reporting provides perspective in the ongoing changes in our clients’ end markets, growth areas where we are strategically focused, and better represents the long-term vision for the company.”
He added: “We are actively working to optimise our organisation to ensure we are well-positioned to provide new and existing client solutions to address their changing business needs.”
The Utility and Power Infrastructure segment includes services provided in power delivery and power generation, as well as natural gas utility peak shaving.
The Process and Industrial Facilities segment includes front-end engineering design (FEED), engineering, maintenance, turnarounds and capital projects for the refinery industries; midstream natural gas processing; other industrial processing facilities including biofuels, fertiliser, and sulphur; mining and minerals infrastructure; and thermal vacuum chambers.
The Storage and Terminal Solutions segment includes FEED, engineering, construction maintenance and repair for aboveground storage tanks and terminals; LNG facilities for import/export fuelling and bunkering; NGL and other specialty vessels; aboveground storage tank products; and other renewable energy storage and terminal solutions.
In this segment, Matrix said it “expects to benefit from continued growth in the demand for cleaner energy sources like LNG and hydrogen. The company will also benefit from the delivery of existing services as demand for crude oil recovers and expansion of its international work in storage, terminal and import/export infrastructure in select international markets.”
For more information visit www.matrixservicecompany.com
