Financial Performance - Revenue for Q4 fiscal 2024 was $189.5 million, a decrease from $205.9 million in Q4 fiscal 2023[4] - Full-year fiscal 2024 revenue totaled $728.2 million, with a book-to-bill ratio of 1.5x[2] - Net loss for Q4 fiscal 2024 was $4.4 million, or $(0.16) per share, compared to a net loss of $0.3 million, or $(0.01) per share in Q4 fiscal 2023[6] - Adjusted EBITDA for fiscal 2024 was $(10.5) million, an improvement from $(18.0) million in fiscal 2023[1] - Full-year fiscal 2025 revenue guidance is projected between $900 million and $950 million, indicating a 24% to 30% increase[10] - Revenue for the three months ended June 30, 2024, was $189,499,000, a decrease from $205,854,000 for the same period in 2023, representing a decline of approximately 7.5%[19] - Gross profit for the three months ended June 30, 2024, was $12,447,000, down from $14,695,000 in the prior year, indicating a decrease of about 15.3%[19] - The net loss for the three months ended June 30, 2024, was $4,377,000, compared to a net loss of $336,000 for the same period in 2023, reflecting a significant increase in losses[19] - Total revenue for the fiscal year ended June 30, 2024, was $276,800 thousand, up from $183,920 thousand in the previous fiscal year, marking an increase of approximately 51%[29] - Adjusted net loss for the fiscal year ending June 30, 2024, was $29.017 million, down from $39.808 million in the previous year[40] Cash Flow and Assets - Cash flow from operations for fiscal 2024 was $72.6 million, up from $10.2 million in fiscal 2023[13] - Total current assets increased to $301,591,000 as of June 30, 2024, from $262,256,000 as of June 30, 2023, marking an increase of approximately 15%[21] - Cash and cash equivalents increased to $115,615,000 as of June 30, 2024, up from $54,812,000 in the previous year, indicating a growth of approximately 110%[21] - Net cash provided by operating activities for the three months ended June 30, 2024, was $47,004,000, a significant increase from $7,844,000 in the prior year[25] Segment Performance - The Storage and Terminal Solutions segment revenue increased to $70.0 million in Q4 fiscal 2024, compared to $64.1 million in Q4 fiscal 2023[7] - The Utility and Power Infrastructure segment revenue rose to $65.3 million in Q4 fiscal 2024, up from $39.1 million in Q4 fiscal 2023[7] - The Process and Industrial Facilities segment revenue decreased to $54.2 million in Q4 fiscal 2024, down from $102.7 million in Q4 fiscal 2023[8] Liabilities and Expenses - Total liabilities rose to $287,169,000 as of June 30, 2024, compared to $219,020,000 a year earlier, representing an increase of about 31%[23] - Total selling, general and administrative expenses for the three months ended June 30, 2024, were $5,461 thousand, compared to $2,585 thousand in the same period last year, reflecting an increase of approximately 111%[27] - The company incurred restructuring costs of $501,000 for the three months ended June 30, 2024, compared to $261,000 in the same period last year[19] Profitability Metrics - The gross profit margin for the fiscal year ended June 30, 2024, was approximately 4.1%, down from 5.1% in the previous fiscal year, highlighting a decline in profitability[29] - Adjusted EBITDA for the three months ended June 30, 2024, was $0.231 million, a decrease from $2.157 million in the same period of 2023[48] - Operating loss for the three months ended June 30, 2024, was $(5,347,000), compared to $(2,597,000) in the prior year, reflecting a worsening of approximately 106%[19] - Loss per fully diluted share for the three months ended June 30, 2024, was $(0.16), compared to $(0.01) for the same period in 2023[40] - Adjusted loss per fully diluted share for the three months ended June 30, 2024, was $(0.14), compared to $(0.11) in the prior year[40] Other Financial Events - The company recorded a gain of $2.5 million from the sale of its Burlington, ON office and a $2.0 million gain from the sale of its Catoosa, OK facility in fiscal 2024[48] - Goodwill impairment for the fiscal year ending June 30, 2024, was recorded as $12.316 million[48] - Interest expense for the three months ended June 30, 2024, was $0.343 million, down from $0.468 million in the same period of 2023[48] - Depreciation and amortization for the three months ended June 30, 2024, was $2.686 million, compared to $3.195 million in the prior year[48]

TULSA, Okla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading North American industrial engineering, construction, and maintenance contractor, today announced results for the fourth quarter and year ended June 30, 2024. FOURTH QUARTER FISCAL 2024 RESULTS (all comparisons versus the prior year quarter unless otherwise noted) Total backlog of $1.4 billion, +31% on a year-over-year basis Total project awards in the quarter of $175.9 million, resulting in a book-to-bill ratio ...

TULSA, Okla., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R. Hewitt, Vice President and Chief Financial Officer Kevin Cavanah, and Senior Director of Investor Relations Kellie Smythe, will be attending the D. A. Davidson 23rd Annual Diversified Industrials & Services Conference scheduled for September 18 – 20, 2024 in Nashville, Tennessee. One-on-one meetings with management are available during the conference with ...

TULSA, Okla., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release fourth quarter and Fiscal 2024 results after market on Monday, September 9, 2024. On Tuesday, September 10, 2024, at 10:30 a.m. Eastern time/9:30 a.m. Central time, Matrix Service Company will host a conference call to present and discuss the Company's financial results and forward outlook ...

TULSA, Okla., July 01, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (NASDAQ: MTRX) ("Matrix Service Company," "Matrix", or "the Company"), a leading engineering and construction contractor to the energy and industrial markets, today announced its addition to the Russell 3000® Index, effective after the close of the U.S. equity markets on June 28, 2024. For more information, visit https://www.lseg.com/en/ftse-russell. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, ...

Investors in Matrix Service Company (MTRX) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $2.50 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Given the way analysts feel about Matrix Service right now, this huge implied volatility could mean there's a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a ...

Matrix Service Company (NASDAQ:MTRX) Q3 2024 Earnings Conference Call May 9, 2024 10:30 AM ET Company Participants Kellie Smythe - Senior Director of Investor Relations John Hewitt - President and Chief Executive Officer Kevin Cavanah - Vice President and Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson John Franzreb - Sidoti & Company Brent Thielman - D.A. Davidson Operator Good morning, and welcome to the Matrix Service Company Conference Call to discuss results for the ...

Table of Contents ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 1-15461 MATRIX SERVICE COMPANY (Exact name of registrant as specified in its charter) __________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________ ...

Matrix Service (MTRX) came out with a quarterly loss of $0.53 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -307.69%. A quarter ago, it was expected that this energy services company would post a loss of $0.10 per share when it actually produced a loss of $0.18, delivering a surprise of -80%.Over the last four quarters, the compa ...

Exhibit 99 MATRIX SERVICE COMPANY REPORTS THIRD QUARTER FISCAL 2024 RESULTS TULSA, OK – May 8, 2024 – Matrix Service Company (Nasdaq: MTRX), a leading North American industrial engineering, construction, and maintenance contractor, today announced results for the third quarter fiscal 2024 ended March 31, 2024. THIRD QUARTER FISCAL 2024 RESULTS (all comparisons versus the prior year period unless otherwise noted) "Bidding activity remained strong across end-markets during the third quarter, driven by multi-y ...