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Jun 30, 2020
Matrix Service Q4 2020 Earnings Report
Reported a decrease in revenue and a loss per share due to market challenges and restructuring costs.
Key Takeaways
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.
Fourth quarter revenue was $195.8 million; full year revenue was $1.101 billion.
GAAP earnings (loss) per share for the quarter were $(0.22); adjusted earnings (loss) per share were $(0.01), after excluding restructuring costs.
Fourth quarter book-to-bill was 1.2 on project awards of $227.2 million; backlog was $758.5 million at June 30, 2020.
Implemented restructuring plan to achieve annualized cost savings of approximately $45 million.
Revenue by Segment
Forward Guidance
Company estimates that its fiscal 2021 effective tax rate will be approximately 27.0%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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