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MTRX Matrix Service

Matrix Service Co. engages in the provision of engineering, fabrication, infrastructure, construction, and maintenance services. It operates through the following segments: Electrical Infrastructure; Oil, Gas and Chemical; Storage Solutions; and Industrial. The Electrical Infrastructure segment includes the construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, as well as emergency and storm restoration services. The Oil, Gas and Chemical segment serves customers primarily in the downstream and midstream petroleum industries who are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. The Storage Solutions segment consists of work related to aboveground storage tanks, and terminals. The Industrial segment comprises of work for integrated iron and steel companies, major mining, and minerals companies. The company was founded on April 4, 1984 and is headquartered in Tulsa, OK.

Company profile

Ticker
MTRX
Exchange
CEO
John Hewitt
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
731352174

MTRX stock data

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Calendar

9 Feb 21
12 Apr 21
30 Jun 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 93.48M 93.48M 93.48M 93.48M 93.48M 93.48M
Cash burn (monthly) (positive/no burn) 1.42M 2.15M 2.04M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 4.81M 7.3M 6.91M n/a n/a
Cash remaining n/a 88.67M 86.18M 86.57M n/a n/a
Runway (months of cash) n/a 62.5 40.0 42.5 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 James Harry Miller COMMON STOCK Grant Aquire A No No 13.69 730 9.99K 42,359
11 Feb 21 Kevin A Durkin COMMON STOCK Option exercise Aquire M No No 10.19 8,000 81.52K 54,046
11 Feb 21 Kevin A Durkin INCENTIVE STOCK OPTION COMMON STOCK Option exercise Dispose M No No 10.19 8,000 81.52K 0
12 Dec 20 Bradley J Rinehart COMMON STOCK Payment of exercise Dispose F No No 9.61 720 6.92K 68,039
11 Nov 20 James Harry Miller COMMON STOCK Buy Aquire P No No 8.98 3,000 26.94K 41,629
3 Nov 20 James Harry Miller COMMON STOCK Grant Aquire A No No 0 8,211 0 38,629

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
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Financial report summary

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Risks
  • The recent COVID-19 pandemic and related economic repercussions have had, and are expected to continue to have, a significant impact on our business, and depending on the duration of the pandemic and its effect on the oil and gas and other industries, could have a material adverse effect on our business, liquidity, results of operations and financial condition.
  • Unsatisfactory safety performance may subject us to penalties, affect customer relationships, result in higher operating costs, negatively impact employee morale and result in higher employee turnover.
  • Our profitability could be negatively impacted if we are not able to maintain appropriate utilization of our workforce.
  • An inability to attract and retain qualified personnel, and in particular, engineers, project managers, and skilled craft workers, could impact our ability to perform on our contracts, which could harm our business and impair our future revenue and profitability.
  • Our results of operations depend upon the award of new contracts and the timing of those awards.
  • Demand for our products and services is cyclical and is vulnerable to the level of capital and maintenance spending of our customers and to downturns in the industries and markets we serve, as well as conditions in the general economy.
  • Our revenue and profitability may be adversely affected by a reduced level of activity in the hydrocarbon industry.
  • The volume of storage related projects are influenced by the overall forward market for crude oil, and certain market conditions may adversely affect financial and operating results.
  • The terms of our contracts could expose us to unforeseen costs and costs not within our control, which may not be recoverable and could adversely affect our results of operations and financial condition.
  • We may incur significant costs in providing services in excess of original project scope without having an approved change order.
  • Our use of percentage-of-completion accounting for fixed-price contracts and our reporting of profits for cost-plus contracts prior to contract completion could result in a reduction or elimination of previously reported profits.
  • Actual results could differ from the estimates and assumptions that we use to prepare our financial statements.
  • Domestic and Foreign trade tariffs could raise the price and reduce the availability of raw materials to us, which could negatively impact our operating results and financial condition.
  • We are exposed to credit risk from customers. If we experience delays and/or defaults in customer payments, we could suffer liquidity problems or we could be unable to recover amounts owed to us.
  • Acquisitions may result in significant transaction expenses, and unidentified liabilities and risks associated with entering new markets. We may also be unable to profitably integrate and operate these businesses.
  • We may not be able to successfully integrate our acquisitions, which could adversely impact our business.
  • We may not realize the growth opportunities, operating margins and synergies that are anticipated from acquisitions.
  • We may need to raise additional capital in the future for working capital, capital expenditures and/or acquisitions, and we may not be able to do so on favorable terms or at all, which would impair our ability to operate our business or achieve our strategic plan.
  • We face substantial competition in each of our business segments, which may have a material adverse effect on our business.
  • Our backlog is subject to unexpected fluctuations, adjustments and cancellations and does not include the full value of our long-term maintenance contracts, and therefore, may not be a reliable indicator of our future earnings.
  • The loss of one or more of our significant customers could adversely affect us.
  • Future events, including those associated with our strategic plan, could negatively affect our liquidity position.
  • Our business may be affected by difficult work sites and environments, which may adversely affect our overall business.
  • We are susceptible to severe weather conditions as a result of climate change or otherwise, which may harm our business and financial results.
  • Our senior secured revolving credit facility imposes restrictions that may limit business alternatives.
  • We contribute to multiemployer plans that could result in liabilities to us if those plans are terminated or if we withdraw from those plans.
  • Earnings for future periods may be affected by impairment charges.
  • We are involved, and are likely to continue to be involved in legal proceedings, which will increase our costs and, if adversely determined, could have a material effect on our financial condition, results of operations, cash flows and liquidity.
  • Our projects expose us to potential professional liability, product liability, pollution liability, warranty and other claims, which could be expensive, damage our reputation and harm our business. We may not be able to obtain or maintain adequate insurance to cover these claims.
  • Employee, subcontractor or partner misconduct or our overall failure to comply with laws or regulations could harm our reputation, damage our relationships with customers, reduce our revenue and profits, and subject us to criminal and civil enforcement actions.
  • Environmental factors and changes in laws and regulations could increase our costs and liabilities.
  • Climate change legislation or regulations restricting emissions of “greenhouse gases” could result in reduced demand for our services and products.
  • A failure or outage in our operational systems or cyber security attacks on any of our systems, or those of third parties, may adversely affect our financial results.
  • We rely on internally and externally developed software applications and systems to support critical functions including project management, estimating, scheduling, human resources, accounting, and financial reporting. Any sudden loss, disruption or unexpected costs to maintain these systems could significantly increase our operational expense as well as disrupt the management of our business operations.
  • We could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti-bribery laws.
  • Economic, political and other risks associated with international operations could adversely affect our business.
  • Our common stock, which is listed on the NASDAQ Global Select Market, has experienced significant price and volume fluctuations. These fluctuations could continue in the future, and our stockholders may not be able to resell their shares of common stock at or above the purchase price paid.
  • Future sales of our common stock may depress our stock price.
  • We may issue additional equity securities, which could lead to dilution of our issued and outstanding stock.
  • Shareholder activists could cause a disruption to our business.
Management Discussion
  • Although we expect business conditions to improve in the second half of fiscal 2021, there continues to be significant uncertainty regarding the near- and intermediate-term economic impacts from the COVID-19 pandemic, which continues to disrupt the markets we serve. As the COVID-19 pandemic persists, the Company's top priority has been to maintain a safe working environment for all employees, customers and business partners. We transitioned the majority of our administrative and engineering team members to remote working conditions in March 2020. At this time, we have returned to the office in select locations where predetermined criteria have been met, but the majority of our administrative and engineering team members continue to work remotely. Work at most customer locations continues to progress as our project teams in coordination with our clients created work processes to integrate the guidance from governmental agencies and leading health organizations to protect the health and safety of everyone on our job sites.
Content analysis
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Removed: announced, development, Electrical, external, generated, leadership, personnel