The following is a summary of the Matrix Service Company (MTRX) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Matrix Service reported Q4 revenue increased to $189 million, a 14% increase from the previous quarter.

• The company experienced a net loss of $4.4 million, or $0.16 per fully diluted share.

• Gross margin reported was 6.6%, influenced by underrecovered construction overheads.

Business Progress:

• Successfully completed a large renewable diesel project and progressed on multiple large storage and infrastructure projects.

• Added $176 million in new project awards in Q4, with total awards for the year reaching $1.1 billion and a book-to-bill ratio of 1.5.

• Backlog has increased by over 30% on a year-over-year basis, with a total backlog of $1.4 billion as the company enters fiscal 2025.

Opportunities:

• Significant strength in the opportunity pipeline, particularly in storage and related facilities, expected to continue adding to backlog.

• Matrix is actively pursuing a $6.1 billion opportunity pipeline across various sectors including LNG, NGLs, ammonia, hydrogen, utility generation, and electrical infrastructure.

Risks:

• Revenue growth and project progression are dependent on market fundamentals, client decision-making, and the regulatory environment which can affect the timing of project awards and starts.

• Gross margins are currently below target due to underrecovered construction overheads, which might impact short-term profitability if not addressed.

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