---
schema_version: "secwatch.filing_event.v1"
accession: "0000866273-22-000113"
form_type: "8-K"
ticker: "MTRX"
cik: "0000866273"
company_name: "MATRIX SERVICE CO"
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T06:15:36.071190+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Matrix Service Q1 revenue $208.4M (+24% YoY), loss per share $0.24, backlog $615.7M with book-to-bill 1.1

## Summary
- Revenue $208.4M, up 24% YoY and 4% QoQ; gross margin improved to 6.2% from 0.4% prior quarter.
- GAAP net loss $6.5M ($0.24/sh); adjusted net loss $4.2M ($0.15/sh); adjusted EBITDA $0.8M vs -$12.0M prior Q.
- Project awards $234.6M in Q1, backlog $615.7M; subsequent awards >$150M in October.
- Storage and Terminals segment book-to-bill 1.7, led by large specialty vessel award.
- Liquidity $56.6M, debt $15M; expects liquidity to improve through fiscal 2023.

## SEC filing metadata
- accession: 0000866273-22-000113
- form_type: 8-K
- ticker: MTRX
- cik: 0000866273
- company_name: MATRIX SERVICE CO
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866273/000086627322000113/0000866273-22-000113-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866273/000086627322000113/mtrx-20221107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000866273-22-000113
- JSON: https://secwatch.observer/filing/0000866273-22-000113.json
- Plain text: https://secwatch.observer/filing/0000866273-22-000113.txt

## Key facts
- Earnings Releases
  MATRIX SERVICE CO reported the first quarter of fiscal 2023 results: revenue $208.4 million, net income net loss of $6.5 million, EPS $0.24 per share.
  - Period: the first quarter of fiscal 2023
  - Revenue: $208.4 million
  - Net income: net loss of $6.5 million
  - EPS: $0.24 per share
  - Result: reported results
  source text: to the energy and industrial markets across North America, today reported financial results for its first quarter of fiscal 2023. Key highlights: • First quarter revenue of $208.4 million, an increase of 24% compared to the first quarter of fiscal 2022 and a 4% increase compared to the fourth quarter of fiscal 2022 • Project awards in the quarter of $234.6
  evidence_url: https://www.sec.gov/Archives/edgar/data/866273/000086627322000113/0000866273-22-000113-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.