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Update: Matrix Service 2015 Second-Quarter Earnings

Matrix Service Company (MTRX), an engineering, fabrication, construction and repair & maintenance services provider, reported 2015 second-quarter earnings after the market closed on February 4th. For the third consecutive quarter, the report was, unexpectedly, mixed. Matrix has a three-year track record (reviewed here) of compound annual growth of over 20% in both revenue and EPS. In the fourth quarter of 2014, Matrix reported an EPS miss and offered lower guidance for 2015 (compared to analyst expectations). In the first quarter of 2015, revenue was, surprisingly, down sequentially. Earnings per share in the first quarter missed analyst expectations. The 2015 second quarter brought a revenue miss, an EPS miss and lowered guidance for full-year EPS. This quarter will likely break the 20+% growth trend for EPS.

Second-quarter revenue did increase year-over-year by 10%. For the first six months of fiscal 2015, revenue has increased 23.7% year-over-year. Management maintained its full-year… Read More …