---
schema_version: "secwatch.filing_event.v1"
accession: "0000866273-23-000012"
form_type: "8-K"
ticker: "MTRX"
cik: "0000866273"
company_name: "MATRIX SERVICE CO"
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T15:12:57.519695+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Matrix Service Q3 net loss $0.47/sh; revenue $186.9M up 6% YoY; backlog $832.4M

## Summary
- Net loss of $12.7M ($0.47/sh); adjusted loss $8.9M ($0.33/sh); adjusted EBITDA loss $7.7M.
- Revenue $186.9M (+6% YoY); project awards $308.7M (book-to-bill 1.7); backlog $832.4M (+12% QoQ).
- Storage & Terminal Solutions rev $52.2M, gross margin -1.6%; Process & Industrial $99.7M (+23% QoQ), gross margin 3.2% (hit by $3.3M cost increase).
- Utility & Power Infrastructure rev $35.0M, gross margin 8.0%; total liquidity $92.4M, debt $15.0M.
- CEO expects significant improvement in Q4 as recently awarded storage projects ramp.

## SEC filing metadata
- accession: 0000866273-23-000012
- form_type: 8-K
- ticker: MTRX
- cik: 0000866273
- company_name: MATRIX SERVICE CO
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866273/000086627323000012/0000866273-23-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866273/000086627323000012/mtrx-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000866273-23-000012
- JSON: https://secwatch.observer/filing/0000866273-23-000012.json
- Plain text: https://secwatch.observer/filing/0000866273-23-000012.txt

## Key facts
- Earnings Releases
  MATRIX SERVICE CO reported third quarter of fiscal 2023 results: revenue $186.9 million, EPS $0.47 per share.
  - Period: third quarter of fiscal 2023
  - Revenue: $186.9 million
  - EPS: $0.47 per share
  - Result: reported results
  source text: Third quarter revenue of $186.9 million, an increase of 6% compared to the third quarter of fiscal 2022 • Loss per share of $0.47; adjusted loss per share of $0.33 (1)
  evidence_url: https://www.sec.gov/Archives/edgar/data/866273/000086627323000012/0000866273-23-000012-index.htm
- Governance Changes
  MATRIX SERVICE CO: Board adopted Third Amended and Restated Bylaws effective immediately, updating provisions for Universal Proxy Rules, stockholder list availability, and adjournment procedures to reflect DGCL amendments (effective 2023-05-02).
  - Change: bylaw amendment
  - Effective: 2023-05-02
  source text: On May 2, 2023, the Board of Directors (the “Board”) of the Company adopted and approved the Company’s Third Amended and Restated Bylaws (the “Third Amended and Restated Bylaws”), effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/866273/000086627323000012/0000866273-23-000012-index.htm

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