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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.
Matrix Service
Matrix Service
Matrix Service Revenue by Segment
Revenue by Segment
Storage and Terminal Solutions Revenue
CapyFin.com Forward Guidance
Company estimates that its fiscal 2021 effective tax rate will be approximately 27.0%.