Matrix Service Q2 revenue $175M, backlog hits record $1.45B, liquidity $106.3M

MATRIX SERVICE CO

2024-Q2 EPS reported -$0.22 revenue$372,701,000

Revenue $175.0M; backlog $1.45B (record); book-to-bill 1.3.
Adjusted EBITDA $0.3M; direct gross margins returned to double-digit levels.
Liquidity $106.3M; all outstanding borrowings under credit facility repaid.
Storage & Terminals segment revenue $62.4M; gross margin 2.9% due to overhead under-recovery.
CEO expects financial performance to increase significantly over coming quarters; under-recovery expected to resolve by Q4.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MATRIX SERVICE CO reported the second quarter of fiscal 2024 results: revenue $175.0 million.

Period: the second quarter of fiscal 2024
Revenue: $175.0 million
Result: reported results

Exact text from the filing

increased to $1.45 billion, the highest level in the company's history; project awards in the quarter of $230.8 million resulted in a book-to-bill ratio of 1.3. • Revenue of $175.0 million in the second quarter of fiscal 2024. • Direct gross margins have returned to historical double-digit levels in the first half of fiscal 2024; impact of under-recovery is

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Source: SEC EDGAR

accession 0000866273-24-000003

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