Matrix Service Company Publishes Fiscal 2023 Sustainability Report

TULSA, Okla., Oct. 04, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today released its Fiscal 2023 Sustainability Report.

“Building on our work in fiscal 2021 and 2022, we are pleased to have issued our third Sustainability Report to share our strategy, commitment, and progress across environmental, social, and governance,” said Matrix Service Company President and Chief Executive Officer, John R. Hewitt. “In addition to our focus on strengthening our operational excellence and financial performance, we continued to make advances in environmental stewardship, in fine-tuning our already strong position in social responsibility and governance, and in incorporating sustainability into our daily operations.”

Key highlights include:

• Metrics for Scope 1 and 2 Greenhouse Gas (GHG) emissions with calculation of GHG emissions intensity based on revenue;
• A third-party GHG emissions assessment to ensure appropriate procedures for reporting and quantification of our environmental metrics were in place and best practices documented and implemented;
• Continuous strengthening of focus on quality, health, and safety through communication and training, ongoing implementation of our Integrated Management System (IMS), and increasing emphasis on use of our Safety Observations program;

• Formalization of our Diversity, Equity, and Inclusion (DEI) Policy;
• Recognition as a Great Place to Work®, a Veteran Employer Champion, and a VETS Indexes Recognized Employer, as well as participation in third-party surveys to assist in the identification of areas for improvement;
• Implementation of our Supply Chain Diversity Policy; and
• Reports on other key areas including Safety, Health, and Well-Being; Training and Development; and Community.
  

The report also provides more substantial information about the Company’s ESG governance and climate strategy and provides information on other key areas including ethics and compliance; quality, safety, health, and well-being; and community involvement.

Reporting Standards and Framework

Consistency and transparency are critical for ESG planning and, as such, beginning with the 2021 Sustainability Report, Matrix has adopted the Sustainability Accounting Standards Board (SASB) reporting standards and included a SASB reference table that details where the information set forth by SASB for the construction and engineering sector can be found in our public reporting. In fiscal 2022, the Company also began reporting under the Financial Stability Board’s Task Force on Climate-related Financial Disclosure (TCFD) recommendations.

By following SASB and TCFD, the Company strives to identify, disclose, and communicate sustainability information considered to be materially important to all stakeholders, and believe information reported under these frameworks will result in more consistent, comparable, and meaningful reporting.

The complete report is available on Matrix Service Company’s Investor Relations website at investors.matrixservicecompany.com/ESG

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 Sustainability Report.

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 the successful implementation of the Company's business improvement plan and the 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, except as required by law.

For more information, please contact:

Kellie Smythe
Senior Director, Investor Relations
T: 918-359-8267
Email: ksmythe@matrixservicecompany.com