Matrix Service reports Q2 EPS 17c, consensus 15c
Reports Q2 revenue $282.9M, consensus $298.61M. The company said, "In our Storage Solutions segment, while revenues were lower as a result of delayed project awards, we achieved a book-to-bill of 1.8 in the quarter. Subsequent to the closing of the quarter, we received a number of additional significant and strategic project awards; announcements on which will be forthcoming. The delay in the award of these anticipated projects has shifted revenue to later periods. Said Hewitt, 'These and other delayed awards, combined with lower than anticipated spending in our Northeastern based high voltage electrical business, will impact our full year revenue. Our EPS guidance remains unchanged, however we are modifying full year revenue guidance from between $1.225 billion and $1.325 billion to between $1.150 billion and $1.225 billion."