Matrix Service pany(US:MTRX)2021-11-09 19:07Financial Performance - The company's Q1 FY2022 revenue was $168093 million[15] - The company's Q1 FY2022 gross profit was -$3508 million, resulting in a gross profit margin of -21%[15] - The company's Q1 FY2022 net loss was $17538 million, with an EPS loss of $066[15] - Adjusted EBITDA for Q1 FY2022 was -$14278 million[15, 30] Segment Performance - Utility & Power Infrastructure revenue was $57204 million in Q1 FY2022[8], with a gross profit margin of -107%[8] - Process & Industrial Facilities revenue was $43905 million in Q1 FY2022[11], with a gross profit margin of 65%[11] - Storage & Terminal Solutions revenue was $66984 million in Q1 FY2022[13], with a gross profit margin of 06%[13] Awards and Backlog - Project awards totaled $267 million in 1Q FY2022[6] - The company's ending backlog was $561 million in 1Q FY2022[6] - The company has implemented approximately $70 million of cost reductions on an annualized basis, translating to approximately a 27% decrease in overhead cost structure over the past two years[17] Cash Flow and Liquidity - The company ended 1st Quarter FY 2022 with cash of $62 million and no debt[19] - The company has a credit facility borrowing base of $75 million[19] Market Outlook - The company's opportunity pipeline is strong across all segments, with LNG and NGLs representing 321% and Gas representing 123% of the pipeline[22]