Matrix Service Earnings Reports

Revenue increased year-over-year, but the company posted a larger net loss driven by discrete charges related to project issues and restructuring.

Matrix Service Company reported a significant increase in revenue for the third quarter of fiscal 2025, reaching $200.2 million, up 21% year-over-year. The company achieved break-even Adjusted EBITDA and reduced its net loss per share, driven by strong project execution and backlog growth.

Matrix Service Company reported a net loss of $(0.20) per share for Q2 2025, with revenue increasing by 7% to $187.2 million. The company faced challenges including project delays and pre-election policy uncertainty, leading to a revised full-year revenue forecast. However, they anticipate a return to profitability in the second half of the fiscal year.

Matrix Service Company reported a revenue of $165.6 million and a net loss per share of $(0.33) for the first quarter of fiscal year 2025. The company is maintaining its full-year fiscal 2025 revenue guidance of $900 to $950 million, supported by continued demand strength and a total backlog of $1.4 billion.

Matrix Service Company reported Q4 2024 results with revenue of $189.5 million. The company's backlog reached $1.4 billion, a 31% increase year-over-year. The net loss per share was $(0.16), and adjusted EBITDA was $0.2 million. The company issued FY2025 revenue guidance between $900 and $950 million.

Matrix Service Company reported a 11% decrease in revenue to $166.0 million for the third quarter of fiscal year 2024, while backlog increased by 74% year-over-year to $1.45 billion. The company experienced a net loss per share of ($0.53) and an adjusted EBITDA of ($9.8) million. Despite the revenue decline, project performance remained strong, and the company is positioned for improved profitability in fiscal 2025.

Matrix Service Company reported revenue of $175.0 million for the second quarter of fiscal 2024. The company's backlog reached an all-time high of $1.45 billion. The company had a net loss of $2.9 million, or $0.10 per share, for the quarter.

Matrix Service Company reported a strong start to fiscal 2024 with project awards reaching $497.4 million, the highest in five years, leading to a book-to-bill ratio of 2.5 and a backlog increase of 126% to $1.4 billion. Revenue for the quarter was $197.7 million, and the company experienced a net loss of $3.2 million, or $0.12 per share.

Matrix Service Company reported a strong fourth quarter in fiscal year 2023, marked by project awards of $463.6 million and a book-to-bill ratio of 2.3. The company's backlog increased by 31% to $1.1 billion compared to the third quarter of fiscal 2023. Revenue for the quarter was $205.9 million, a 10% increase compared to the third quarter of fiscal 2023.

Matrix Service Company reported a net loss of $12.7 million, or $0.47 per share, for the third quarter of fiscal 2023. However, the company saw strong award momentum with a book-to-bill of 1.7 and a 12% increase in backlog compared to the previous quarter.

Matrix Service Company's second quarter revenue increased by 20% compared to the previous year, driven by a surge in project awards, the highest since Q1 2020, leading to a strong book-to-bill ratio. However, results were negatively impacted by a $9.6 million adjustment on a legacy project and a $12.3 million goodwill impairment, resulting in a loss per share of $1.22.

Matrix Service Company reported improved first quarter fiscal 2023 results, marked by a 24% increase in revenue compared to the previous year and a 4% increase sequentially. Project awards rose by 20% compared to the previous quarter, leading to a book-to-bill ratio of 1.1 and a backlog of $615.7 million, the highest in over two years. The company's adjusted EBITDA improved significantly, and adjusted loss per share was reduced.

Matrix Service Company reported a 13% increase in fourth-quarter revenue to $200.7 million, with project awards of $196.0 million, resulting in a book-to-bill ratio of 1.0. The company's backlog increased by 27% since the start of the fiscal year. Earnings per share were $0.50, while the adjusted loss per share was $0.52, excluding a gain on the sale of facilities and other non-cash items. Liquidity stood at $94.8 million as of June 30, 2022.

Matrix Service Company reported a net loss of $34.9 million, or $1.30 per fully diluted share, for the third quarter of fiscal 2022. Revenue was $177.0 million. Project awards totaled $179.7 million, resulting in a book-to-bill ratio of 1.0. Backlog increased to $594.2 million.

Matrix Service Company reported a decrease in revenue to $162.0 million and a loss per share of $0.93 for the second quarter of fiscal 2022. However, the company saw a 28% increase in backlog compared to the start of the fiscal year, reaching $591.6 million, and maintained a strong balance sheet with $101.7 million in liquidity and no debt.

Matrix Service Company reported a net loss of $17.5 million, or $0.66 per diluted share, for the first quarter of fiscal 2022. However, the company saw a significant increase in project awards, achieving a book-to-bill ratio of 1.6 with project awards of $266.9 million, the highest since Q1 2020. Backlog increased by 21.4% to $561.4 million, and the company maintains a strong balance sheet with no debt and a new $100 million credit facility.

Matrix Service Company reported an 18% increase in fourth-quarter revenue to $174.9 million compared to the third quarter. Project awards totaled $99.1 million, resulting in a backlog of $462.6 million. The company experienced a net loss of $10.7 million, or $0.40 per share, due to additional costs on a large capital project and a settlement of a long-term dispute.

Matrix Service Company reported a third quarter revenue of $148.3 million, impacted by COVID-19 and severe weather. The company experienced a net loss of $0.49 per share, with an adjusted loss of $0.43 per share. Despite these challenges, the company maintains a strong balance sheet with $73.8 million in cash and no debt, and anticipates improved results in the coming quarters.

Matrix Service Company reported a decrease in revenue for Q2 2021, impacted by COVID-19 and related market disruptions. However, the company generated positive cash flow from operations, fully repaid outstanding debt, and achieved significant cost savings. They are optimistic about increasing project awards in the second half of the fiscal year and are diversifying into cleaner energy markets.

Matrix Service Company reported a decrease in revenue to $182.8 million for the first quarter of fiscal 2021, resulting in a loss per diluted share of $0.12. The results were impacted by the global pandemic and related market disruptions. Despite strong project execution, lower than expected revenue volume led to under recovery of construction overhead costs, significantly impacting gross margins. The company's backlog at the end of the quarter was $678.4 million, with project awards of $102.7 million for the quarter. Liquidity stood at $133.9 million, including cash of $82.2 million.

Matrix Service Company reported a decrease in fourth-quarter revenue to $195.8 million compared to $398.7 million in the same period last year. The company experienced a GAAP loss per share of $(0.22) and an adjusted loss per share of $(0.01). The company has a backlog of $758.5 million with a book-to-bill ratio of 1.2.

Matrix Service Company reported a decrease in revenue to $248.3 million compared to $358.9 million in the same quarter of the prior year, primarily due to exiting the iron and steel market and impacts from COVID-19. The company experienced a net loss of $5.5 million, or $0.21 per share, inclusive of restructuring costs. Despite the loss, the company maintains a strong liquidity position with $216.3 million and is implementing cost-saving measures.

Matrix Service Company reported a decrease in revenue for the second quarter of fiscal year 2020, with a net loss of $28.0 million, or $1.04 per fully diluted share. Adjusted earnings per diluted share, excluding non-cash charges, were $0.19. The company is implementing strategic changes to improve operating performance.