secwatch.observer — SEC 8-K summary
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Issuer:     MATRIX SERVICE CO (MTRX)
CIK:        0000866273
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0000866273-23-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866273/000086627323000012/0000866273-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866273/000086627323000012/mtrx-20230502.htm
  HTML page:      https://secwatch.observer/filing/0000866273-23-000012

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