secwatch.observer — SEC 8-K summary
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Issuer:     MATRIX SERVICE CO (MTRX)
CIK:        0000866273
Form:       8-K
Filed at:   2022-05-09T23:59:59+00:00
Accession:  0000866273-22-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Matrix Service Q3 FY22: $1.30 GAAP EPS loss, revenue $177M, backlog up 28% to $594M
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- Net loss $34.9M ($1.30 diluted EPS); adjusted loss $13.4M ($0.50 diluted) vs prior year adjusted loss $0.43.
- Revenue $177.0M, up $15M from Q2; gross margin (1.0%) due to under-recovered overheads and cost increases on two pandemic-era projects.
- Backlog $594.2M (up 28% YTD); project awards $179.7M in Q3, $638.7M year-to-date (81% increase vs prior year).
- No debt, liquidity $86.8M ($34.1M cash + $52.7M ABL); recorded $18.3M goodwill impairment and $7.7M deferred tax asset valuation allowance.
- CEO expects material backlog increases in coming quarters on LNG and energy infrastructure awards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866273/000086627322000017/0000866273-22-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866273/000086627322000017/mtrx-20220509.htm
  HTML page:      https://secwatch.observer/filing/0000866273-22-000017

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