NASDAQ$MTRX

Matrix Service Co · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported an increase in revenue and project awards, reflecting growing momentum despite challenges.

Matrix Service Company reported a 13% increase in fourth-quarter revenue to $200.7 million, with project awards of $196.0 million, resulting in a book-to-bill ratio of 1.0. The company's backlog increased by 27% since the start of the fiscal year. Earnings per share were $0.50, while the adjusted loss per share was $0.52, excluding a gain on the sale of facilities and other non-cash items. Liquidity stood at $94.8 million as of June 30, 2022.

  • Fourth quarter revenue increased 13% to $200.7 million.
  • Project awards totaled $196.0 million, resulting in a book-to-bill ratio of 1.0.
  • Backlog increased 27% since the start of the fiscal year, reaching $589.5 million.
  • Earnings per fully diluted share were $0.50, with an adjusted loss per share of $0.52 excluding certain gains.

Headline financials

Total Revenue

$201M

Previous: $175M+14.8%
EPS (adj)

-$0.52

Previous: -$0.40-30.0%
Capital Expenditures

$2.01M

Previous: $457K+339.8%
Free Cash Flow

-$33.7M

Previous: $9.78M-444.3%
Net Income

$13.5M

Previous: -$10.7M+225.5%
Operating Income

-$18.2M

Previous: -$16.4M-11.1%
Gross Profit

$858K

Previous: $1.54M-44.4%
Cash & Equivalents

$52.4M

Previous: $83.9M-37.6%
Total Assets

$441M

Previous: $468M-5.7%
Stock-Based Comp

$2.05M

Previous: $1.74M+17.8%

Revenue & EPS history

Matrix Service · Revenue · Quarterly

$201M

Q4 2022+14.8%vs Q4 2021
Beat estimate in 2 of 14 quarters(14%)
ActualEstimate

Revenue by segment

Matrix Service · $123M total across 1 segment · Q4 2020

  • Storage and Terminal Solutions
    $123M-17.8%

Forward guidance

Matrix Service Company believes it is near an inflection point, expecting to benefit from its competitive strengths and business transformation to capitalize on significant opportunities ahead.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-2.0%

Avg return

Earnings day

-0.9%

Avg return

5 days after

+1.7%

Avg return

30 days after

46%

29 / 63 earnings

Positive

+27.3%

Q2 2014

Best reaction

-34.3%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-12.0%-11.9%-1.9%
Q2 2026-16.7%-15.5%-18.8%
Q1 2026-18.8%-19.7%-25.1%
Q3 2025+11.1%+5.8%+1.6%
Q2 2025+0.1%+6.7%-16.6%
Q1 2025+13.1%+13.8%+14.3%
Q4 2024+12.5%+17.0%+21.6%
Q3 2024-10.8%-8.7%-9.1%
Q2 2024+20.5%+30.8%+38.9%
Q1 2024+2.2%-1.7%-14.1%
Q4 2023+13.4%+14.1%+51.4%
Q3 2023+2.8%+3.1%+8.3%
Q2 2023-19.2%-26.3%-30.9%
Q1 2023+6.7%+8.9%+15.6%
Q4 2022-7.4%-12.2%+13.6%
Q3 2022-17.0%-23.4%+3.2%
Q2 2022+2.6%-2.2%+31.5%
Q1 2022-0.9%-1.0%-18.6%
Q4 2021-4.5%-5.7%-0.8%
Q3 2021-8.2%-10.2%-20.3%
Q2 2021-1.6%+1.2%+22.7%
Q4 2020-5.8%+6.9%-7.8%
Q3 2020-2.7%-5.5%+24.2%
Q2 2020-34.3%-35.3%-36.3%
Q1 2020-0.7%-7.0%+6.5%
Q4 2019+17.8%+7.3%-5.0%
Q3 2019+12.1%+7.9%-3.6%
Q2 2019-12.4%-7.4%-10.7%
Q1 2019+7.9%-2.7%-12.1%
Q4 2018+2.1%+22.6%+9.3%
Q3 2018+0.9%+2.7%+11.3%
Q2 2018-14.7%-12.4%-8.3%
Q1 2018+3.9%+9.2%+19.7%
Q4 2017+14.4%+17.7%+16.0%
Q3 2017-6.5%-8.4%-19.2%
Q2 2017-12.9%-17.9%-26.4%
Q1 2017+2.4%+11.5%+28.6%
Q4 2016+13.2%+13.2%+13.3%
Q3 2016-23.2%
Q2 2016-12.0%
Q1 2016-5.9%
Q4 2015+7.0%
Q3 2015-15.3%
Q2 2015-12.9%
Q1 2015-8.4%
Q4 2014-19.5%
Q3 2014+14.4%
Q2 2014+27.3%
Q1 2014-4.6%
Q4 2013+4.7%
Q3 2013+4.9%
Q2 2013+4.4%
Q1 2013+4.4%
Q4 2010-8.8%
Q4 2012-11.0%
Q3 2011-8.9%
Q3 2012-10.9%
Q2 2011+0.2%
Q2 2012+1.1%
Q1 2012-6.0%
Q1 2011-6.0%
Q4 2011-6.0%
Q3 2010+11.8%

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