The following is a summary of the Matrix Service Company (MTRX) Q1 2025 Earnings Call Transcript:
Financial Performance:
Q1 revenue was $165.6 million, down from $197.7 million due to completion of a large project.
Gross margin was 4.7%, impacted negatively by under-recovered overhead costs.
Net loss of $9.2 million, due to lower revenue and higher SG&A expenses.Maintained strong backlog of $1.4 billion, affirming revenue guidance of $900 million to $950 million for fiscal 2025.
Business Progress:
Expanded partnership with another contractor for a specialty vessel storage tank project.
Expects revenue increase from major capital projects and maintained strong backlog for long-term visibility.
Focus on high-margin specialty engineering and construction projects.
Opportunities:
Strong demand in LNG, NGL, and ammonia storage and terminal infrastructure, with a diverse opportunity pipeline valued at approximately $6 billion.
Risks:
Dependent on the timing of awards and project starts due to factors like elections and regulatory environment.
More details: Matrix Service IR
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