Matrix Service Company (NASDAQ:MTRX) Q4 2022 Earnings Conference Call October 7, 2022 10:30 AM ET

Company Participants

Kellie Smythe - IR

John Hewitt - President & CEO

Kevin Cavanah - VP & CFO

Conference Call Participants

Jean Ramirez - D.A. Davidson

John Franzreb - Sidoti

Operator

Good day, and thank you for standing by. Welcome to the Matrix Service Company Conference Call to discuss Results for the Fourth Quarter and Full Year Fiscal 2022. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker, Kellie Smythe, Senior Director of Investor Relations. Please go ahead.

Kellie Smythe

Thank you, Carmen. Good morning and welcome to Matrix Service Company’s fourth quarter and fiscal 2022 earnings call. Participants on today’s call will include John Hewitt, President and Chief Executive Officer; and Kevin Cavanah, Vice President and Chief Financial Officer. The presentation materials we will be referring to during the webcast today can be found under Events and Presentations on the Investor Relations section of matrixservicecompany.com.

Before we begin, please let me remind you that on today’s call, we may make various remarks about future expectations, plans and prospects for Matrix Service Company that constitute forward-looking statements for the purposes of the Private Securities Litigation Reform Act of 1995.

Actual results may vary materially from those indicated by these forward-looking statements as a result of various factors, including those discussed in our most recent annual report on Form 10-K and subsequent filings made by the company with the SEC. To the extent, we utilized non-GAAP measures, reconciliations will be provided in various press releases, periodic SEC filings and on our website.

I will now turn the call over to John Hewitt, President and CEO of Matrix Service Company.

John Hewitt

Thank you, Kellie, and good morning, everyone, and thank you for joining us. I'd like to open with a brief comment on the delay in filing our 10-K. As we stated in our press release on September 12, we believed the review of the misallocated project employee hours to construction overhead would be confirmed to be a material and isolated incident and that the company's internal controls environment would be in good shape.

I am pleased to report this is the case. As a result of the company's internal controls, the issue was previously identified and corrected within the fiscal year and the investigation did not result in any additional adjustments. We expect to file our 10-K early next week.