Matrix Service Q4 revenue $200.7M, GAAP EPS $0.50, adjusted loss $0.52

MATRIX SERVICE CO

2023-Q1 EPS reported -$0.24 revenue$208,431,000

Q4 revenue $200.7M (+13% QoQ); full-year revenue $707.8M; net income $13.5M included $32.4M gain on facility sale.
Adjusted net loss $13.8M ($0.52/share) on low gross margins; valuation allowance on deferred tax assets.
Backlog $589.5M (+27% vs. start of FY), project awards $196M (book-to-bill 1.0 Q4, 1.2 FY).
Credit agreement amended: borrowing capacity cut to $90M, waiver for late FY2022 audited financial statements extended to Oct 14.
Liquidity $94.8M ($52.4M cash, $42.5M ABL availability); $15M drawn on ABL facility.

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