MATRIX SERVICE Reports 2.6% Increase in Total Revenue, 13.46 Million Decrease in Net Income for Q4 Ending June 30 2023
September 15, 2023
☀️Earnings Overview
On September 11 2023, MATRIX SERVICE ($NASDAQ:MTRX) reported total revenue of USD 205.8 million and a net income of USD -0.34 million for the fourth quarter ending June 30 2023. This figures represent a 2.6% increase in total revenue and a 13.46 million decrease in net income when compared to the same period of the previous year.
Analysis
GoodWhale has conducted an analysis of MATRIX SERVICE‘s fundamentals and has assigned a Star Chart. The results show that MATRIX SERVICE is strong in terms of assets, medium in terms of profitability and weak in terms of dividend and growth. Furthermore, MATRIX SERVICE has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it is likely to pay off debt and fund future operations. Based on the results of this analysis, MATRIX SERVICE is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This type of company may be appealing to investors who are looking for steady returns without taking on too much volatility. Investors may also be attracted to the fact that MATRIX SERVICE has a healthy balance sheet and appears to be in a good position to pay off debt and fund operations. In addition, MATRIX SERVICE’s moderate growth may appeal to investors who are looking for long-term stability and are willing to invest over the longer term to benefit from any potential upside. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Matrix Service. More…
| Total Revenues | Net Income | Net Margin |
| 795.02 | -52.36 | -4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Matrix Service. More…
| Operations | Investing | Financing |
| -29.28 | 35.67 | 12.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Matrix Service. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 400.5 | 219.02 | 6.71 |
Key Ratios Snapshot
Some of the financial key ratios for Matrix Service are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -10.3% | 48.5% | -6.4% |
| FCF Margin | ROE | ROA |
| -4.7% | -17.5% | -7.9% |
Peers
The company has a strong presence in the United States, Canada, Mexico, India, the Middle East and Australia. Matrix Service Co’s competitors include Punj Lloyd Ltd, Dyna-Mac Holdings Ltd, Aenza SAA, among others.
– Punj Lloyd Ltd ($BSE:532693)
Punj Lloyd Ltd is an Indian conglomerate with interests in engineering, procurement, and construction. The company has a market cap of 748.38M as of 2022 and a Return on Equity of -7.12%. Punj Lloyd is a leading EPC contractor in India and has executed some of the country’s most prestigious infrastructure projects. The company has a strong presence in the power, oil & gas, and metallurgical sectors.
– Dyna-Mac Holdings Ltd ($SGX:NO4)
Dyna-Mac Holdings Ltd is a Singapore-based offshore and marine engineering group. The Company’s segments include Offshore, Marine, Fabrication and Others. The Offshore segment includes the construction of topside modules and integration, fabrication of living quarters, and other offshore-related works. The Marine segment includes the construction of new vessels and the repair, conversion and upgrading of vessels. The Fabrication segment includes the fabrication of process modules, pressure vessels, storage tanks and other steel structures. The Others segment includes the provision of management services.
– Aenza SAA ($NYSE:AENZ)
Aenza SAA is a technology company that provides software and services to businesses. The company has a market cap of 211.87M as of 2022 and a return on equity of 4.35%. Aenza SAA was founded in 2002 and is headquartered in Madrid, Spain.
Summary
MATRIX SERVICE experienced an increase in total revenue of 2.6% during the fourth quarter ending June 30 2023, totaling 205.8 million USD. However, net income saw a significant decrease of 13.46 million USD, resulting in a net income of -0.34 million. This dismal performance should be taken into account when considering investing in MATRIX SERVICE, as it may indicate a lack of investor confidence in the company’s ability to reach positive financial results.
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