Matrix Service Q3 revenue down 11% YoY to $166M; backlog hits record $1.45B

MATRIX SERVICE CO

2024-Q3 EPS reported -$0.75 revenue$538,714,000

Net loss per share ($0.53); adjusted EBITDA negative ($9.8M) vs ($7.7M) prior year.
Revenue $166M, -11% YoY; project awards $186.8M, book-to-bill 1.1x.
Backlog $1.45B, +74% YoY, highest in 40-year history.
Cash flow from operations $25M (+25% YoY); cash and credit availability $135M, no debt.
CEO expects improved activity in Q4; bidding strong across storage, utility, and power markets.

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 0.9

MATRIX SERVICE CO reported the third quarter fiscal 2024 ended March 31, 2024 results: revenue $166.0 million, EPS ($0.53).

Period: the third quarter fiscal 2024 ended March 31, 2024
Revenue: $166.0 million
EPS: ($0.53)
Result: reported results

Exact text from the filing

+74% on a year-over-year basis, the highest level in 40-year company history • Total project awards of $186.8 million, resulting in a book-to-bill ratio of 1.1x • Revenue of $166.0 million, a decline of 11% on a year-over-year basis • Adjusted EBITDA of ($9.8) million (1) versus ($7.7) million in the prior-year period • Net loss per share of ($0.53) • Cash flow

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Source: SEC EDGAR

accession 0000866273-24-000023

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