Matrix Service guides below expectation for Q3; shares -10% AH

|About: Matrix Service Company (MTRX)|By:, SA News Editor

Matrix Service (NASDAQ:MTRX): expects Q3 EPS of ($0.49) - ($0.56) vs. a consensus of $0.13

Revenue of $250M (-19.2% Y/Y) vs. a consensus of $300.4M

Consolidated backlog is projected to be ~$790M, compared to $814M at Dec. 31, 2016.

The principal cause for the loss in the quarter is the forecasted deterioration of the financial outcome of a major project in the Electrical Infrastructure segment. This project is being impacted by various ongoing factors that are causing delays in schedule progress, labor productivity, and system turnover.

Press Release