What happened 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. Image source: Getty Images. On the one hand, revenue in all three of the company's segments increased compared to Q3. Further, the company noted that the pace of new contracts awards has begun to accelerate in the new fiscal year. However, the pandemic has continued to disrupt the energy and industrial markets. That's negatively impacting the timing of project awards and the company's financial results. In addition, the company incurred additional costs in Q4 for a large project in its utility and power infrastructure segment to hit a critical schedule completion milestone. As a result, it sees a gross profit reduction of $6.6 million. Overall, Matrix expects this project to yield a positive financial outcome, but it's well below its initial expectations. Now what Even through Matrix Service's financial results improved sequentially in fiscal Q4, the contractor continues to experience some pandemic-related headwinds. On top of that, a large project is coming in well below expectations. While the company's project awards have improved early in its fiscal first quarter, it needs to prove to investors that it can deliver within expectations. 10 stocks we like better than Matrix ServiceWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Matrix Service wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 9, 2021 Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source