Fiscal Archives

Matrix Service Company Sets Dates for Release of Second Quarter Fiscal 2025 Financial Results and Conference Call

TULSA, Okla., Jan. 21, 2025 (GLOBE NEWSWIRE) — Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release second quarter Fiscal 2025 results after market on Wednesday, February 5, 2025.

On Thursday, February 6, 2025, at 10:30 a.m. Eastern time/9:30 a.m. Central time, Matrix Service Company will host a conference call to present and discuss the Company’s financial results and forward outlook.

Earnings Conference Call instructions

Investors and other interested parties can access a live audio-visual webcast using this webcast link, or through the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The conference call will be recorded and will be available for replay within one hour of completion of the live call and can be accessed following the same link as the live call.

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia, and Seoul, South Korea.

The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our Fiscal 2024 Sustainability Report.

For more information about Matrix, please contact:

Kellie Smythe
Matrix Service Company
Senior Director, Investor Relations, Marketing, Communications, and Sustainability
T: 918-359-8267
Email: ksmythe@matrixservicecompany.com

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release.

Matrix Service Company, a leading provider of engineering, construction, and maintenance services, has announced the dates for the release of its second quarter fiscal 2025 financial results and conference call.

The company will release its financial results for the second quarter of fiscal 2025 on [Date]. Following the release, Matrix Service Company will host a conference call to discuss the results on [Date] at [Time].

Investors, analysts, and other interested parties are invited to participate in the call by dialing [Conference Call Number]. A live webcast of the call will also be available on the company’s website at [Website Link].

Stay tuned for more updates on Matrix Service Company’s upcoming financial results and conference call.

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January 21, 2025

Kim Reynolds, Tim Walz offer contrasting fiscal paths

John Hendrickson is policy director of Iowans for Tax Relief Foundation.
John Phelan is an economist with Minnesota’s Center of the American Experiment.

Iowa and Minnesota are Midwestern neighbors who have taken vastly different fiscal policy paths in recent years. They have arrived at quite different destinations, with one looking at lower taxes and a budget surplus and the other at higher taxes and a budget deficit. They illustrate the alternative policy paths from which the United States must choose.

In Iowa, Gov. Kim Reynolds has positioned Iowa as a national leader in fiscal responsibility. Along with the Legislature, she has prioritized conservative budgeting, leading to multi-year budget surpluses, full reserve funds, and a Taxpayer Relief Fund nearing $4 billion. These responsible practices enabled Iowa’s historic income tax reforms.

This is in complete contrast with Minnesota under the leadership of Gov. Tim Walz. Entering 2023 with a forecast budget surplus of $18 billion, Walz and the Democratic-controlled Legislature not only spent every penny of that — increasing spending, in real terms, by 23% per person since 2019 — but hiked taxes and fees by another $10 billion on top of that. This explosion of spending has now landed the state government with a forecast deficit of $5 billion for the 2028-2029 budget biennium.

These contrasting approaches are why Reynolds has been recognized by the Cato Institute as the most fiscally conservative governor in the nation, while Walz received the lowest ranking.

Conservative budgeting is at the heart of Iowa’s pro-growth income tax reforms. The Hawkeye State once had some of the highest income tax rates in the nation, but, since 2018, Reynolds has made tax reform a priority.

Iowa’s progressive income tax with the top rate of 8.98% was one of the highest in the nation, and the top corporate rate of 12% was the highest. Now, Iowa has a flat 3.8% income tax and a 7.1% corporate tax, which is scheduled to be reduced further until it reaches a flat 5.5%. Reynolds has stated that income tax reform is far from over and seeks further rate reductions.

Fiscal conservatism has strengthened the state’s budgetary foundation, while still allowing it to meet spending priorities. In fiscal year 2024, Iowa posted a budget surplus of $2.05 billion, projected to increase to $2.25 billion in fiscal year 2025. Further, the Cash Reserve Fund and Economic Emergency Fund, Iowa’s primary reserve accounts, are filled to their statutory maximums, with a combined balance of nearly $962 million. Iowa’s Taxpayer Relief Fund currently holds $3.7 billion.

Reynolds has also made reforming and reducing the size and scope of government a priority. The Legislature passed the first major reforms to state government in nearly 40 years, reducing the number of executive-level agencies from 37 to 16. Numerous boards and commissions are also being reviewed and will either be eliminated or consolidated. This is making government more efficient and reducing bureaucracy. In less than 18 months taxpayers saved about $130 million as a result of the reforms and additional savings are expected as the process continues.

Walz, meanwhile, inherited some of the highest tax rates in the Unites States — a 9.85% top rate of income tax and 9.80% for the corporate tax, now the highest in the nation — but has worked, with Democrats in the Legislature, to increase them, with measures such as a top rate of income tax of 12.5%, which would be the highest in the country, and the imposition of a “Global Intangible Low Tax Income” burden on companies.

He has expanded the size and scope of government. A new Paid Family and Medical Leave scheme, for example, imposes a tax of 0.7% on each worker, but a state commission found that this will need to increase by 23% in four years to keep the scheme solvent. It micromanages employment relations across the state and requires the hiring of hundreds of new state employees.

Because of this fiscal incontinence, the state is forecast to see a budget surplus of $616 million at the end of the 2026-2027 biennium turn into a deficit of $3.5 billion in 2028-2029, or $5.1 billion if inflation is factored in. Budget battle lines are already being drawn in St. Paul.

As the United States faces mounting fiscal pressures from increasing deficits and rising interest rates, Iowa and Minnesota offer examples of the drastically different choices policymakers in Washington could make. Do they follow Reynolds’ path of fiscal conservatism to lower taxes and balanced budgets? Or Walz’s path of higher taxes, higher spending, and higher deficits?

John Hendrickson is policy director of Iowans for Tax Relief Foundation. John Phelan is an economist with Minnesota’s Center of the American Experiment.

Iowa Governor Kim Reynolds and Minnesota Governor Tim Walz have taken different approaches to fiscal policy, with Reynolds advocating for tax cuts and smaller government while Walz focuses on investing in education and infrastructure.

Reynolds, a Republican, has pushed for tax cuts and deregulation as a way to spur economic growth in Iowa. She has also focused on reducing government spending and streamlining government operations. Reynolds believes that lower taxes and less government intervention will attract businesses and create jobs in the state.

On the other hand, Walz, a Democrat, has prioritized investing in education, healthcare, and infrastructure in Minnesota. He has proposed increasing funding for public schools and expanding access to affordable healthcare. Walz believes that investing in these areas will improve the quality of life for all Minnesotans and help the state remain competitive in the global economy.

The contrasting fiscal paths of Reynolds and Walz highlight the different priorities and philosophies of the two governors. While Reynolds believes in smaller government and lower taxes, Walz is focused on investing in public services and infrastructure. It remains to be seen which approach will lead to greater economic prosperity and quality of life for their respective states.

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Kim Reynolds, Tim Walz, fiscal policy, budget plans, economic strategies, contrasting approaches, government spending, tax policies, state budgets, financial decisions

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January 20, 2025

Sustaining the States: The Fiscal Viability of American State Governments (ASPA Series in Public Administration and Public Policy)

Price: ~~$84.99~~ – $66.49
(as of Dec 17,2024 16:12:11 UTC – Details)

In today’s world of political and economic uncertainty, the fiscal viability of American state governments is more important than ever. The American Society for Public Administration (ASPA) has released a new series in public administration and public policy titled “Sustaining the States: The Fiscal Viability of American State Governments” to address this critical issue.

This series brings together leading experts in the field to explore the challenges facing state governments in maintaining their financial health and stability. From pension reform to budgetary constraints, from revenue generation to expenditure control, the series covers a wide range of topics essential to understanding the complex financial landscape of state governments.

Readers will gain valuable insights into the factors influencing state government fiscal sustainability, as well as innovative strategies for addressing financial challenges. Whether you are a researcher, policymaker, or public administration professional, this series will provide you with the knowledge and tools needed to ensure the long-term fiscal viability of American state governments.

Stay tuned for upcoming volumes in the ASPA Series in Public Administration and Public Policy, and join the conversation on sustaining the states.
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December 17, 2024

CRYPTOIZATION, IT SOLUTIONS, AND TAXATION FOR SUSTAINABLE DEVELOPMENT: Digital Dynamics and Fiscal Strategies in a Transforming World (Public Finance, Fiscal Policy and Tax Management Book 5)

Price: $0.99
(as of Nov 22,2024 12:32:18 UTC – Details)

ASIN ‏ : ‎ B0CST75WSD
Publication date ‏ : ‎ January 18, 2024
Language ‏ : ‎ English
File size ‏ : ‎ 3522 KB
Simultaneous device usage ‏ : ‎ Unlimited
Text-to-Speech ‏ : ‎ Enabled
Screen Reader ‏ : ‎ Supported
Enhanced typesetting ‏ : ‎ Enabled
X-Ray ‏ : ‎ Not Enabled
Word Wise ‏ : ‎ Enabled
Print length ‏ : ‎ 201 pages

In today’s rapidly evolving digital landscape, the convergence of cryptocurrency, IT solutions, and taxation is becoming increasingly critical for sustainable development. The new book “CRYPTOIZATION, IT SOLUTIONS, AND TAXATION FOR SUSTAINABLE DEVELOPMENT: Digital Dynamics and Fiscal Strategies in a Transforming World” delves into the complex interplay between these three key areas and offers insights into how governments can navigate this changing landscape to drive economic growth and societal progress.

Authored by a team of experts in public finance, fiscal policy, and tax management, this book provides a comprehensive overview of the challenges and opportunities presented by the rise of cryptocurrencies, the proliferation of IT solutions, and the need for effective taxation systems in the digital age. From exploring the potential benefits of blockchain technology in tax administration to analyzing the impact of digital currencies on revenue collection, this book offers a timely and insightful examination of the changing dynamics of fiscal policy in a transforming world.

Whether you are a policymaker, tax professional, or simply interested in the intersection of technology, finance, and governance, “CRYPTOIZATION, IT SOLUTIONS, AND TAXATION FOR SUSTAINABLE DEVELOPMENT” is a must-read for anyone looking to understand the implications of digital innovation on public finance and taxation. Get your copy today and stay ahead of the curve in this rapidly evolving landscape.
#CRYPTOIZATION #SOLUTIONS #TAXATION #SUSTAINABLE #DEVELOPMENT #Digital #Dynamics #Fiscal #Strategies #Transforming #World #Public #Finance #Fiscal #Policy #Tax #Management #Book

November 22, 2024

Tag: Fiscal

Matrix Service Company Sets Dates for Release of Second Quarter Fiscal 2025 Financial Results and Conference Call

Kim Reynolds, Tim Walz offer contrasting fiscal paths

Sustaining the States: The Fiscal Viability of American State Governments (ASPA Series in Public Administration and Public Policy)

CRYPTOIZATION, IT SOLUTIONS, AND TAXATION FOR SUSTAINABLE DEVELOPMENT: Digital Dynamics and Fiscal Strategies in a Transforming World (Public Finance, Fiscal Policy and Tax Management Book 5)