Matrix Service Co. Files 2024 Annual Report

Ticker: MTRX · Form: 10-K · Filed: Sep 10, 2024 · CIK: 866273

Matrix Service CO 10-K Filing Summary
FieldDetail
CompanyMatrix Service CO (MTRX)
Form Type10-K
Filed DateSep 10, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $76.6 million, $75.2 million
Sentimentneutral

Sentiment: neutral

Topics: annual-report, sec-filing, financials

Related Tickers: MTRX

TL;DR

MTRX filed its 10-K for FY24. All the deets on financials and ops are in there.

AI Summary

Matrix Service Co. reported its annual results for the fiscal year ended June 30, 2024. The company, incorporated in Delaware, operates in the industrial services sector and is registered with the SEC under file number 001-15461. Its common stock trades on the NASDAQ Global Select Market under the ticker MTRX.

Why It Matters

This filing provides investors with a comprehensive overview of Matrix Service Co.'s financial performance and operational status for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — This is a standard annual report filing, providing factual information without inherent new risks.

Key Players & Entities

FAQ

What is the fiscal year end date for this 10-K filing?

The fiscal year ended on June 30, 2024.

What is the trading symbol for Matrix Service Co.'s common stock?

The trading symbol is MTRX.

On which exchange is Matrix Service Co.'s common stock traded?

The common stock is traded on the NASDAQ Global Select Market.

What is the company's principal executive office address?

The principal executive offices are located at 15 E. 5th Street Suite 1100, Tulsa, Oklahoma 74103.

What is the SEC Commission File Number for Matrix Service Co.?

The Commission File Number is 001-15461.

Filing Stats: 4,430 words · 18 min read · ~15 pages · Grade level 14.5 · Accepted 2024-09-10 16:11:53

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 8

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 17

Cybersecurity

Item 1C. Cybersecurity 17

Properties

Item 2. Properties 19

Legal Proceedings

Item 3. Legal Proceedings 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 20 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 21

Reserved

Item 6. Reserved 22

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 35

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 36

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 73

Controls and Procedures

Item 9A. Controls and Procedures 73

Other Information

Item 9B. Other Information 73

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 74

Executive Compensation

Item 11. Executive Compensation 74

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 74

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 74 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 75

Form 10-K Summary

Item 16. Form 10-K Summary 77

Signatures

Signatures 7 8 1 Table of Contents PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this Annual Report which address activities, events or developments, which we expect, believe or anticipate will or may occur in the future are forward-looking statements. The words "believes," "intends," "expects," "anticipates," "projects," "estimates," "predicts" and similar expressions are also intended to identify forward-looking statements. Although we believe that our expectations regarding future events are based on reasonable assumptions, we can give no assurance that such expectations or assumptions will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements are described under Part I, Item 1A, Risk Factors. Consequently, all of the forward-looking statements made in this Annual Report are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business operations. We assume no obligation to update, except as required by law, any such forward-looking statements, whether as a result of new information, future events or otherwise. 2 Table of Contents BACKGROUND We began operations in 1984 as an Oklahoma corporation under the name of Matrix Service. In 1989, we incorporated in the State of Delaware under the name of Matrix Service Company, and in 1990 we began trading on the NASDAQ exchange. We provide engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. We maintain regional offices throughout the United Sta

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