secwatch.observer — SEC 8-K summary
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Issuer:     MATRIX SERVICE CO (MTRX)
CIK:        0000866273
Form:       8-K
Filed at:   2022-02-07T23:59:59+00:00
Accession:  0000866273-22-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Matrix Service Q2 fiscal 2022 loss $0.93/diluted share; adjusted loss $0.38; backlog $591.6M
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- Revenue $162.0M, down from $168.1M in Q1; gross margin 2.0%.
- Project awards $192.2M (book-to-bill 1.2); backlog up 28% vs. start of fiscal year.
- GAAP loss per diluted share $0.93; adjusted loss $0.38 excludes $14.2M DTA valuation allowance and $0.7M restructuring.
- No debt; liquidity $101.7M including $65.0M cash and $36.7M ABL availability.
- Estimate $80M cost structure reductions since fiscal 2020; expect return to profitability in Q4 fiscal 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866273/000086627322000005/0000866273-22-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866273/000086627322000005/mtrx-20220207.htm
  HTML page:      https://secwatch.observer/filing/0000866273-22-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer