$MTRX
MATRIX SERVICE CO

2023 Q2 Form 10-Q Financial Statement

#000086627323000017 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $205.9M $186.9M
YoY Change 2.56% 5.59%
Cost Of Revenue $191.2M $182.5M
YoY Change -4.35% 2.08%
Gross Profit $14.70M $4.419M
YoY Change 1612.7% -350.65%
Gross Profit Margin 7.14% 2.36%
Selling, General & Admin $17.03M $16.86M
YoY Change -5.9% -1.05%
% of Gross Profit 115.9% 381.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.195M $3.322M
YoY Change -13.58% -10.6%
% of Gross Profit 21.74% 75.18%
Operating Expenses $17.03M $16.86M
YoY Change -5.9% -1.05%
Operating Profit -$2.336M -$12.76M
YoY Change -86.45% -64.1%
Interest Expense -$342.0K $268.0K
YoY Change 52.0% 31.37%
% of Operating Profit
Other Income/Expense, Net $2.566M -$116.0K
YoY Change -91.96% -117.13%
Pretax Income -$373.0K -$13.05M
YoY Change -102.76% -62.77%
Income Tax -$37.00K -$363.0K
% Of Pretax Income
Net Earnings -$336.0K -$12.69M
YoY Change -102.5% -63.65%
Net Earnings / Revenue -0.16% -6.79%
Basic Earnings Per Share -$0.47
Diluted Earnings Per Share -$0.01 -$0.47
COMMON SHARES
Basic Shares Outstanding 27.05M shares 27.04M shares
Diluted Shares Outstanding 27.04M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.81M $48.20M
YoY Change 4.66% 41.39%
Cash & Equivalents $54.81M $48.20M
Short-Term Investments
Other Short-Term Assets $3.118M $4.801M
YoY Change -75.81% -34.43%
Inventory $7.437M $8.027M
Prepaid Expenses $5.741M $6.369M
Receivables $145.8M $163.4M
Other Receivables $496.0K $539.0K
Total Short-Term Assets $262.3M $284.8M
YoY Change -8.75% 15.69%
LONG-TERM ASSETS
Property, Plant & Equipment $47.55M $50.54M
YoY Change -37.39% -16.43%
Goodwill $29.12M $29.71M
YoY Change -30.89% -29.66%
Intangibles $3.066M $3.499M
YoY Change -36.07% -33.07%
Long-Term Investments
YoY Change
Other Assets $11.72M $9.542M
YoY Change -61.6% -27.63%
Total Long-Term Assets $138.2M $141.2M
YoY Change -9.87% -15.43%
TOTAL ASSETS
Total Short-Term Assets $262.3M $284.8M
Total Long-Term Assets $138.2M $141.2M
Total Assets $400.5M $425.9M
YoY Change -9.14% 3.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.37M $65.52M
YoY Change 1.98% -3.88%
Accrued Expenses $25.73M $28.16M
YoY Change -31.91% -26.18%
Deferred Revenue $85.44M $114.7M
YoY Change 31.23% 55.32%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $187.5M $208.4M
YoY Change 5.48% 15.67%
LONG-TERM LIABILITIES
Long-Term Debt $10.00M $15.00M
YoY Change -33.33%
Other Long-Term Liabilities $21.46M $782.0K
YoY Change 5.83% -96.1%
Total Long-Term Liabilities $31.46M $782.0K
YoY Change -10.82% -96.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $187.5M $208.4M
Total Long-Term Liabilities $31.46M $782.0K
Total Liabilities $219.0M $245.9M
YoY Change 2.78% 22.82%
SHAREHOLDERS EQUITY
Retained Earnings $58.92M $59.25M
YoY Change -47.05% -39.43%
Common Stock $279.0K $279.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.753M $9.889M
YoY Change -37.2% -36.91%
Treasury Stock Shares
Shareholders Equity $181.5M $180.0M
YoY Change
Total Liabilities & Shareholders Equity $400.5M $425.9M
YoY Change -9.14% 3.11%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$336.0K -$12.69M
YoY Change -102.5% -63.65%
Depreciation, Depletion And Amortization $3.195M $3.322M
YoY Change -13.58% -10.6%
Cash From Operating Activities $7.844M $19.99M
YoY Change -124.76% -158.96%
INVESTING ACTIVITIES
Capital Expenditures $2.797M $3.369M
YoY Change -239.15% -539.82%
Acquisitions
YoY Change
Other Investing Activities $6.356M $79.00K
YoY Change -83.17% -93.08%
Cash From Investing Activities $3.559M -$3.290M
YoY Change -90.05% -975.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.948M 64.00K
YoY Change -134.01% -168.82%
NET CHANGE
Cash From Operating Activities 7.844M 19.99M
Cash From Investing Activities 3.559M -3.290M
Cash From Financing Activities -4.948M 64.00K
Net Change In Cash 6.455M 16.76M
YoY Change -65.35% -149.86%
FREE CASH FLOW
Cash From Operating Activities $7.844M $19.99M
Capital Expenditures $2.797M $3.369M
Free Cash Flow $5.047M $16.62M
YoY Change -117.01% -150.15%

Facts In Submission

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CY2023Q1 us-gaap Construction Contractor Receivable Retainage After Year One
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us-gaap Goodwill Impairment Loss
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us-gaap Amortization Of Intangible Assets
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CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
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mtrx Mtrx Asset Backed Lineof Credit Percentage Limitfor Fixed Charge Coverage Ratio
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Increase Decrease In Income Taxes Receivable
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CY2023Q1 mtrx Mtrx Caresact Deferred Payroll Tax Liability
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CY2023Q1 us-gaap Unapproved Change Orders Amount
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CY2022Q2 us-gaap Unapproved Change Orders Amount
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Profit Loss
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-77356000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27038000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26783000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26969000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26714000 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.90
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
133 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
81 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
110 shares
CY2023Q1 mtrx Grossrevenues
Grossrevenues
188601000 usd
CY2022Q1 mtrx Grossrevenues
Grossrevenues
178381000 usd
mtrx Grossrevenues
Grossrevenues
592006000 usd
mtrx Grossrevenues
Grossrevenues
513505000 usd
CY2023Q1 us-gaap Revenues
Revenues
186895000 usd
CY2022Q1 us-gaap Revenues
Revenues
177003000 usd
us-gaap Revenues
Revenues
589166000 usd
us-gaap Revenues
Revenues
507061000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
4419000 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
-1763000 usd
us-gaap Gross Profit
GrossProfit
16125000 usd
CY2023Q1 mtrx Restructuring Cost Closure Of Office In The Second Quarter Of Fiscal2023
RestructuringCostClosureOfOfficeInTheSecondQuarterOfFiscal2023
700000 usd
us-gaap Gross Profit
GrossProfit
-2064000 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16862000 usd
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17041000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
51218000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
49592000 usd
CY2023Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
316000 usd
CY2022Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
16734000 usd
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
15197000 usd
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
18034000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-12759000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-35538000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-50290000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-69690000 usd
CY2023Q1 us-gaap Assets
Assets
425947000 usd
CY2022Q2 us-gaap Assets
Assets
440793000 usd
CY2023Q1 us-gaap Severance Costs1
SeveranceCosts1
251000 usd
CY2022Q1 us-gaap Severance Costs1
SeveranceCosts1
0 usd
us-gaap Severance Costs1
SeveranceCosts1
2563000 usd
us-gaap Severance Costs1
SeveranceCosts1
136000 usd
us-gaap Severance Costs1
SeveranceCosts1
17477000 usd
CY2023Q1 us-gaap Business Exit Costs1
BusinessExitCosts1
50000 usd
CY2022Q1 us-gaap Business Exit Costs1
BusinessExitCosts1
12000 usd
us-gaap Business Exit Costs1
BusinessExitCosts1
179000 usd
us-gaap Business Exit Costs1
BusinessExitCosts1
29000 usd
us-gaap Business Exit Costs1
BusinessExitCosts1
4709000 usd
CY2023Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2022Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1525000 usd
CY2023Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
15000 usd
CY2022Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
-1590000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
139000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
-443000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
582000 usd
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
316000 usd
CY2022Q1 us-gaap Restructuring Charges
RestructuringCharges
-1578000 usd
us-gaap Restructuring Charges
RestructuringCharges
2881000 usd
us-gaap Restructuring Charges
RestructuringCharges
-278000 usd
us-gaap Restructuring Charges
RestructuringCharges
24293000 usd

Files In Submission

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mtrx-20230331_lab.xml Edgar Link unprocessable
0000866273-23-000017-index-headers.html Edgar Link pending
0000866273-23-000017-index.html Edgar Link pending
0000866273-23-000017.txt Edgar Link pending
0000866273-23-000017-xbrl.zip Edgar Link pending
exhibit311-mtrxx2023x3x31x.htm Edgar Link pending
exhibit312-mtrxx2023x3x31x.htm Edgar Link pending
exhibit321-mtrxx2023x3x31x.htm Edgar Link pending
exhibit322-mtrxx2023x3x31x.htm Edgar Link pending
exhibit95-mtrxx2023x3x31x.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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mtrx-20230331.htm Edgar Link pending
mtrx-20230331.xsd Edgar Link pending
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mtrx-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
mtrx-20230331_cal.xml Edgar Link unprocessable
mtrx-20230331_pre.xml Edgar Link unprocessable
mtrx-20230331_htm.xml Edgar Link completed
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