Matrix Service (MTRX) 10-Q 5 Nov 20 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Sep. 30, 2020	Nov. 03, 2020
Cover [Abstract]
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	5100 East Skelly Drive, Suite 500
Entity File Number	1-15461
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.01 per share
Document Transition Report	false
Document Quarterly Report	true
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	MTRX
Entity Registrant Name	MATRIX SERVICE CO
Entity Central Index Key	0000866273
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		26,468,781
Entity Address, City or Town	Tulsa
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74135
City Area Code	918
Local Phone Number	838-8822
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Tax Identification Number	73-1352174

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 182,771	$ 338,097
Cost of revenue	168,421	305,632
Gross profit	14,350	32,465
Selling, general and administrative expenses	18,128	23,691
Restructuring costs	(320)	0
Operating income (loss)	(3,458)	8,774
Other income (expense):
Interest expense	(375)	(389)
Interest income	33	474
Other	1,033	3
Income (loss) before income tax expense	(2,767)	8,862
Provision for federal, state and foreign income taxes	270	2,711
Net income (loss)	$ (3,037)	$ 6,151
Basic earnings (loss) per common share (US$ per share)	$ (0.12)	$ 0.23
Diluted earnings (loss) per common share (US$ per share)	$ (0.12)	$ 0.22
Weighted average common shares outstanding:
Basic (shares)	26,265	26,935
Diluted (shares)	26,265	27,575

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (3,037)	$ 6,151
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss) (net of tax expense (benefit) of $12 and ($22) for the three months ended September 30, 2020, and 2019, respectively)	404	(394)
Comprehensive income (loss)	$ (2,633)	$ 5,757

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 12	$ (22)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 82,175	$ 100,036
Accounts receivable, less allowances (September 30, 2020—$830 and June 30, 2020—$905)	171,504	160,671
Costs and estimated earnings in excess of billings on uncompleted contracts	57,694	59,548
Inventories	6,751	6,460
Income taxes receivable	4,071	3,919
Other current assets	9,144	4,526
Total current assets	331,339	335,160
Property, plant and equipment at cost:
Land and buildings	42,845	42,695
Construction equipment	95,332	94,154
Transportation equipment	53,460	55,864
Office equipment and software	41,896	39,356
Construction in progress	2,648	4,427
Property, plant and equipment at cost, gross	236,181	236,496
Accumulated depreciation	(156,743)	(155,748)
Property, plant and equipment at cost, net	79,438	80,748
Operating lease right-of-use assets	20,152	21,375
Goodwill	60,437	60,369
Other intangible assets, net of accumulated amortization	8,287	8,837
Deferred income taxes	5,684	5,988
Other assets	6,893	4,833
Total assets	512,230	517,310
Current liabilities:
Accounts payable	68,615	73,094
Billings on uncompleted contracts in excess of costs and estimated earnings	63,523	63,889
Accrued wages and benefits	16,682	16,205
Accrued insurance	7,657	7,301
Operating lease liabilities	6,585	7,568
Other accrued expenses	7,157	7,890
Total current liabilities	170,219	175,947
Deferred income taxes	34	61
Operating lease liabilities	18,820	19,997
Long-term Line of Credit	9,383	9,208
Liabilities, Other than Long-term Debt, Noncurrent	7,754	4,208
Total liabilities	206,210	209,421
Commitments and contingencies
Stockholders' equity:
Common stock—$.01 par value; 60,000,000 shares authorized; 27,888,217 shares issued as of September 30, 2020 and June 30, 2020; 26,460,196 and 26,141,528 shares outstanding as of September 30, 2020 and June 30, 2020	279	279
Additional paid-in capital	132,687	138,966
Retained earnings	203,365	206,402
Accumulated other comprehensive loss	(7,969)	(8,373)
Stockholders' equity	328,362	337,274
Less: Treasury stock, at cost — 1,428,021 shares as of September 30, 2020, and 1,746,689 shares as of June 30, 2020	(22,342)	(29,385)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	306,020	307,889
Total liabilities and stockholders’ equity	$ 512,230	$ 517,310

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Statement Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowances	$ 830	$ 905
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	27,888,217	27,888,217
Common stock, shares outstanding	26,460,196	26,141,528
Treasury stock, shares	1,428,021	1,746,689

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net income (loss)	$ (3,037)	$ 6,151
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization	4,639	4,779
Stock-based compensation expense	2,218	3,024
Operating lease and fixed asset impairments due to restructuring	150	0
Deferred income tax	289	1,990
Gain on sale of property, plant and equipment	(941)	(93)
Provision for uncollectible accounts	(64)	224
Other	101	84
Changes in operating assets and liabilities increasing (decreasing) cash:
Accounts receivable	(10,769)	3,594
Costs and estimated earnings in excess of billings on uncompleted contracts	1,854	30,087
Inventories	(291)	456
Other assets and liabilities	(8,018)	(297)
Accounts payable	(4,431)	(15,240)
Billings on uncompleted contracts in excess of costs and estimated earnings	(366)	24,565
Accrued expenses	3,646	(3,220)
Net cash provided (used) by operating activities	(15,020)	56,104
Investing activities:
Capital expenditures	(2,777)	(8,684)
Proceeds from asset sales	1,074	151
Net cash used by investing activities	(1,703)	(8,533)
Financing activities:
Advances under senior secured revolving credit facility	0	8,984
Repayments of advances under senior secured revolving credit facility	0	(2,872)
Proceeds from issuance of common stock under employee stock purchase plan	82	83
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(1,536)	(3,394)
Net cash provided (used) by financing activities	(1,454)	2,801
Effect of exchange rate changes on cash and cash equivalents	316	(198)
Increase (decrease) in cash and cash equivalents	(17,861)	50,174
Cash and cash equivalents, beginning of period	100,036	89,715
Cash and cash equivalents, end of period	82,175	139,889
Supplemental disclosure of cash flow information:
Income taxes	122	5,069
Interest paid	470	417
Non-cash investing and financing activities:
Purchases of property, plant and equipment on account	$ 0	$ 263

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Balances, beginning at Jun. 30, 2019	$ 351,957	$ 279	$ 137,712	$ 239,476	$ (17,759)	$ (7,751)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	6,151	0	0	6,151	0	0
Other comprehensive income (loss)	(394)	0	0	0	0	(394)
Issuance of deferred shares	0	0	(7,813)	0	7,813	0
Treasury shares sold to Employee Stock Purchase Plan	83	0	13	0	70	0
Treasury shares purchased to satisfy tax withholding obligations	(3,394)	0	0	0	(3,394)	0
Stock-based compensation expense	3,024	0	3,024	0	0	0
Balances, ending at Sep. 30, 2019	357,427	279	132,936	245,627	(13,270)	(8,145)
Balances, beginning at Jun. 30, 2020	307,889	279	138,966	206,402	(29,385)	(8,373)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,037)	0	0	(3,037)	0	0
Other comprehensive income (loss)	404	0	0	0	0	404
Issuance of deferred shares	0	0	(8,435)	0	8,435	0
Treasury shares sold to Employee Stock Purchase Plan	82	0	(62)	0	144	0
Treasury shares purchased to satisfy tax withholding obligations	(1,536)	0	0	0	(1,536)	0
Stock-based compensation expense	2,218	0	2,218	0	0	0
Balances, ending at Sep. 30, 2020	$ 306,020	$ 279	$ 132,687	$ 203,365	$ (22,342)	$ (7,969)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Exercise of stock options, shares	0	0
Issuance of deferred shares, shares	478,703	494,274
Employee Stock Purchase Plan, shares	8,730	4,053
Treasury Stock, Shares, Acquired	0	0
Other treasury shares purchases, shares	168,765	174,084

Basis of Presentation (Notes)

Basis of Presentation (Notes)	3 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements include the accounts of Matrix Service Company and its subsidiaries (“Matrix”, “we”, “our”, “us”, “its” or the “Company”), unless otherwise indicated. Intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X for interim financial statements required to be filed with the Securities and Exchange Commission and do not include all information and footnotes required by U.S. generally accepted accounting principles ("GAAP") for complete financial statements. The information furnished reflects all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair statement of the results of operations, cash flows and financial position for the interim periods presented. The accompanying condensed financial statements should be read in conjunction with the audited financial statements for the year ended June 30, 2020, included in the Company’s Annual Report on Form 10-K for the year then ended. The results of operations for the three month period ended September 30, 2020 may not necessarily be indicative of the results of operations for the full year ending June 30, 2021. Significant Accounting Policies The Company has updated its significant accounting policies to include its accounting policy for recognizing credit losses as a result of adopting the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments-Credit Losses (Topic 326) on July 1, 2020, and our change in reportable segments effective July 1, 2020. The Company's other significant accounting policies are detailed in “Note 1 - Summary of Significant Accounting Policies” of our Annual Report on Form 10-K for the year ended June 30, 2020. Credit Losses Adoption of New Credit Losses Standard On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which changed how the Company accounts for credit losses, including those related to its accounts receivable and contract assets. Under this guidance, a financial asset (or a group of financial assets) are required to be presented at the net amount expected to be collected. The income statement reflects any increases or decreases of expected credit losses that have taken place during the period. The amendments in this update eliminate the probable initial recognition threshold and, instead, reflect the Company's current estimate of all lifetime expected credit losses on its accounts receivable and contract asset balances. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amounts. The Company determines its allowance for credit losses by using a loss-rate methodology, in which it assesses historical write-offs against total receivables and contract asset balances over several periods. In addition, the Company places reserves on specific balances as needed based on the most recent estimates of collectibility. The Company's adoption of this standard on July 1, 2020 did not have a material impact on its estimate of the allowance for credit losses. Change in Reportable Segments Due to changing markets facing our clients and to better align the financial reporting of the Company with our long-term strategic growth areas, we began reporting our financial results under new reportable segments effective July 1, 2020. The new reportable segments along with a description of each are as follows: • Utility and Power Infrastructure : consists of power delivery services provided to investor owned utilities, including construction of new substations, upgrades of existing substations, transmission and distribution line installations, upgrades and maintenance, as well as emergency and storm restoration services. The Company also provides construction and maintenance services to a variety of power generation facilities, including gas fired facilities in simple or combined cycle design, and provides engineering, fabrication, and construction services for liquefied natural gas ("LNG") utility peak shaving facilities. • Process and Industrial Facilities : primarily serves customers in the downstream and midstream petroleum industries who are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. The Company also serves customers in various other industries such as petrochemical, sulfur, mining and minerals companies engaged primarily in the extraction of non-ferrous metals, aerospace and defense, cement, agriculture, and other industrial customers. The Company's services include plant maintenance, turnarounds, industrial cleaning services, engineering, fabrication, and capital construction. • Storage and Terminal Solutions : consists of work related to aboveground storage tanks and terminals. Also included in this segment are cryogenic and other specialty storage tanks and terminals, including LNG, liquid nitrogen/liquid oxygen, liquid petroleum and other specialty vessels such as spheres, as well as marine structures and truck and rail loading/offloading facilities. The Company's services include engineering, fabrication, construction, and maintenance and repair, which includes planned and emergency services for both tanks and full terminals. Finally, the Company offers tank products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals. All prior period segment information has been restated to conform with our new reportable segments. In addition, beginning July 1, 2020, the Company is reporting separately corporate selling, general and administrative expenses and other corporate expenses that were previously allocated to the segments. Refer to Note 9 - Segment Information, and Part I, Item 2 - Management's Discussion and Analysis - Results of Operations, for more information.

Revenue (Notes)

Revenue (Notes)	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Remaining Performance Obligations The Company had $490.4 million of remaining performance obligations yet to be satisfied as of September 30, 2020. The Company expects to recognize $386.0 million of its remaining performance obligations as revenue within the next twelve months. Contract Balances Contract terms with customers include the timing of billing and payment, which usually differs from the timing of revenue recognition. As a result, we carry contract assets and liabilities in our balance sheet. These contract assets and liabilities are calculated on a contract-by-contract basis and reported on a net basis at the end of each period and are classified as current. We present our contract assets in the balance sheet as Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts ("CIE"). CIE consists of revenue recognized in excess of billings. We present our contract liabilities in the balance sheet as Billings on Uncompleted Contracts in Excess of Costs and Estimated Earnings ("BIE"). BIE consists of billings in excess of revenue recognized. The following table provides information about CIE and BIE: September 30, June 30, Change (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 57,694 $ 59,548 $ (1,854) Billings on uncompleted contracts in excess of costs and estimated earnings (63,523) (63,889) 366 Net contract liabilities $ (5,829) $ (4,341) $ (1,488) The difference between the beginning and ending balances of the Company's CIE and BIE primarily results from the timing of revenue recognized relative to its billings. The amount of revenue recognized during the three months ended September 30, 2020 that was included in the June 30, 2020 BIE balance was $41.2 million. This revenue consists primarily of work performed during the period on contracts with customers that had advance billings. Progress billings in accounts receivable at September 30, 2020 and June 30, 2020 included retentions to be collected within one year of $33.0 million and $37.3 million, respectively. Contract retentions collectible beyond one year are included in other assets in the Condensed Consolidated Balance Sheet and totaled $3.8 million as of September 30, 2020 and $1.6 million as of June 30, 2020. Disaggregated Revenue Revenue disaggregated by reportable segment is presented in Note 9 - Segment Information. The following series of tables presents revenue disaggregated by geographic area where the work was performed and by contract type: Geographic Disaggregation: Three Months Ended September 30, September 30, (In thousands) United States $ 161,377 $ 314,416 Canada 19,611 21,170 Other international 1,783 2,511 Total Revenue $ 182,771 $ 338,097 Contract Type Disaggregation: Three Months Ended September 30, September 30, (In thousands) Fixed-price contracts $ 133,356 $ 176,320 Time and materials and other cost reimbursable contracts 49,415 161,777 Total Revenue $ 182,771 $ 338,097 Typically, the Company assumes more risk with fixed-price contracts since increases in costs to perform the work may not be recoverable. However, these types of contracts typically offer higher profits than time and materials and other cost reimbursable contracts when completed at or below the costs originally estimated. The profitability of time and materials and other cost reimbursable contracts is typically lower than fixed-price contracts and is usually less volatile than fixed-price contracts since the profit component is factored into the rates charged for labor, equipment and materials, or is expressed in the contract as a percentage of the reimbursable costs incurred.

Leases (Notes)

Leases (Notes)	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Leases The Company enters into lease arrangements for real estate, construction equipment and information technology equipment in the normal course of business. Real estate leases accounted for approximately 90% of all right-of-use assets as of September 30, 2020. Most real estate and information technology equipment leases generally have fixed payments that follow an agreed upon payment schedule and have remaining lease terms ranging from less than a year to 15 years. Construction equipment leases generally have "month-to-month" lease terms that automatically renew as long as the equipment remains in use. During the three months ended September 30, 2020, the Company recognized a $0.2 million impairment of a right-of-use asset in connection with the closure of a leased office space. The impairment is included in restructuring costs in the condensed consolidated statements of income. The components of lease expense in the condensed consolidated statements of income are as follows: Three Months Ended September 30, 2020 September 30, 2019 Lease expense Location of Expense in Statements of Income (in thousands) Operating lease expense Cost of revenue and selling, general and administrative expenses $ 2,488 $ 3,117 Short-term lease expense (1) Cost of revenue 5,975 9,608 Total lease expense $ 8,463 $ 12,725 (1) Primarily represents the lease expense of construction equipment that is subject to month-to-month rental agreements with expected rental durations of less than one year. The future undiscounted lease payments, as reconciled to the discounted operating lease liabilities presented in the Company's Condensed Consolidated Balance Sheets, were as follows: September 30, 2020 Maturity Analysis: (in thousands) Remainder of Fiscal 2021 $ 6,313 Fiscal 2022 5,542 Fiscal 2023 3,871 Fiscal 2024 2,862 Fiscal 2025 2,300 Thereafter 9,647 Total future operating lease payments 30,535 Less: imputed interest (5,130) Net present value of future lease payments 25,405 Less: current portion of operating lease liabilities 6,585 Non-current operating lease liabilities $ 18,820 The following is a summary of the weighted average remaining operating lease term and weighted average discount rate as of September 30, 2020: Weighted-average remaining lease term (in years) 6.4 years Weighted-average discount rate 5.6 % Supplemental cash flow information related to leases is as follows: Three Months Ended September 30, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,102 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 902

Intangible Assets Including Goo

Intangible Assets Including Goodwill (Notes)	3 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Including Goodwill	Intangible Assets Including Goodwill Goodwill The changes in the carrying value of goodwill by segment are as follows: Utility and Power Infrastructure Process and Industrial Facilities Storage and Terminal Solutions Total (In thousands) Net balance at June 30, 2020 $ 6,905 $ 26,846 $ 26,618 $ 60,369 Translation adjustment (1) 21 7 40 68 Net balance at September 30, 2020 $ 6,926 $ 26,853 $ 26,658 $ 60,437 (1) The translation adjustments relate to the periodic translation of Canadian Dollar and South Korean Won denominated goodwill recorded as a part of prior acquisitions in Canada and South Korea, in which the local currency was determined to be the functional currency. The Company tests its goodwill for impairment annually in May. While there continues to be uncertainty around the near-term level of spending by some of our customers due to the impacts of the COVID-19 pandemic on our markets and the economy, this uncertainty did not result in any impairment indicators as of September 30, 2020. We will continue to monitor the latest developments and perform interim tests for goodwill impairment as needed. Other Intangible Assets Information on the carrying value of other intangible assets is as follows: At September 30, 2020 Useful Life Gross Carrying Accumulated Net Carrying (Years) (In thousands) Intellectual property 10 to 15 $ 2,558 $ (1,979) $ 579 Customer-based 6 to 15 17,062 (9,354) 7,708 Total amortizing intangible assets $ 19,620 $ (11,333) $ 8,287 At June 30, 2020 Useful Life Gross Carrying Accumulated Net Carrying (Years) (In thousands) Intellectual property 10 to 15 $ 2,579 $ (1,956) $ 623 Customer-based 6 to 15 21,840 (13,626) 8,214 Total amortizing intangible assets $ 24,419 $ (15,582) $ 8,837 Amortization expense totaled $0.6 million and $0.9 million during the three months ended September 30, 2020 and September 30, 2019, respectively. We estimate that the remaining amortization expense related to September 30, 2020 amortizing intangible assets will be as follows (in thousands): Period ending: Remainder of Fiscal 2021 $ 1,679 Fiscal 2022 1,812 Fiscal 2023 1,729 Fiscal 2024 1,416 Fiscal 2025 1,096 Fiscal 2026 555 Total estimated remaining amortization expense at September 30, 2020 $ 8,287

Debt (Notes)

Debt (Notes)	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt On November 2, 2020, the Company entered into the Fifth Amended and Restated Credit Agreement (the "Credit Agreement"), by and among the Company and certain foreign subsidiaries, as Borrowers, various subsidiaries of the Company, as Guarantors, JPMorgan Chase Bank, N.A., as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, and the other Lenders party thereto, which replaced the Fourth Amended and Restated Credit Agreement (the "Prior Credit Agreement") that was in place at September 30, 2020, and which is described in Part II, Item 8. Financial Statements and Supplementary Data, Note 5 - Debt, in the Company's Annual Report on Form 10-K for the year ended June 30, 2020. The Credit Agreement provides for a three-year senior secured revolving credit facility of $200.0 million that expires November 2, 2023. The credit facility may be used for working capital, acquisitions, capital expenditures, issuances of letters of credit and other lawful purposes. The credit facility includes a U.S. Dollar equivalent sublimit of $75.0 million for revolving loans denominated in Australian Dollars, Canadian Dollars, Euros and Pounds Sterling and letters of credit in Australian Dollars, Euros, and Pounds Sterling. The credit facility also includes a $200.0 million sublimit for total letters of credit. Each revolving borrowing under the Credit Agreement will bear interest at a rate per annum equal to: • The ABR or the Adjusted LIBO Rate, in the case of revolving loans denominated in U.S. Dollars; • The Canadian Prime Rate or the CDOR rate, in the case of revolving loans denominated in Canadian Dollars; • The Adjusted LIBO Rate or the Adjusted EURIBOR Rate, in the case of revolving loans denominated in Pounds Sterling or Australian Dollars; or • The Adjusted EURIBOR Rate, in the case of revolving loans denominated in Euros, in each case, plus the Applicable Margin, which is based on the Company's Leverage Ratio. The Applicable Margin on ABR loans ranges between 1.00% and 2.00%. The Applicable Margin for Adjusted LIBO, Adjusted EURIBOR and CDOR loans ranges between 2.00% and 3.00% and the Applicable Margin for Canadian Prime Rate loans ranges between 2.50% and 3.50%. The unused credit facility fee is between 0.35% and 0.50% based on the Leverage Ratio. Covenants and limitations under the Credit Agreement are effective for the quarter ended September 30, 2020 and include the following: • Our Leverage Ratio, determined as of the end of each fiscal quarter, may not exceed 3.00 to 1.00. The Leverage Ratio covenant requires that Consolidated Funded Indebtedness, as defined in the Credit Agreement, as of the end of any fiscal quarter, may not exceed 3.0 times Consolidated EBITDA, as defined in the Credit Agreement, or "Covenant EBITDA," over the previous four quarters. • We are required to maintain a Fixed Charge Coverage Ratio ("FCCR"), determined as of the end of each fiscal quarter, greater than or equal to 1.25 to 1.00. The FCCR is calculated as follows: ◦ If no borrowings are outstanding at quarter end, then the FCCR covenant requires that, as of the end of any fiscal quarter, Covenant EBITDA, after deducting capital expenditures and dividends for the previous four quarters, may not be less than 1.25 times the total of interest expense and cash paid for income taxes over the previous four quarters plus scheduled maturities of certain indebtedness for the next four quarters. ◦ If borrowings are outstanding at quarter end: ▪ for the fiscal quarters ending September 30, 2020 through June 30, 2021, Covenant EBITDA, after deducting capital expenditures, dividends, and share repurchases in excess of $7.5 million for the previous four quarters, may not be less than 1.25 times the total of interest expense and cash paid for income taxes over the previous four quarters plus scheduled maturities of certain indebtedness for the next four quarters. ▪ for all fiscal quarters ending on or after September 30, 2021, the FCCR is calculated the same except that all share repurchases for the previous four quarters are deducted from Covenant EBITDA. • Asset dispositions (other than dispositions in which all of the net cash proceeds therefrom are reinvested into the Company and dispositions of inventory and obsolete or unneeded equipment in the ordinary course of business) are limited to $20.0 million per 12-month period. • Share repurchases are limited to $30.0 million per calendar year. As of September 30, 2020, the Company is in compliance with all affirmative, negative, and financial covenants under the Credit Agreement. Availability at September 30, 2020 under the senior secured revolving credit facility established under the Prior Credit Agreement was as follows: September 30, June 30, (In thousands) Senior secured revolving credit facility $ 300,000 $ 300,000 Capacity constraint due to the Leverage Ratio 204,135 162,864 Capacity under the credit facility 95,865 137,136 Letters of credit 34,766 34,529 Borrowings outstanding 9,383 9,208 Availability under the senior secured revolving credit facility $ 51,716 $ 93,399 Availability under the new $200.0 million senior secured revolving credit facility at September 30, 2020 would have been the same if the Credit Agreement had been in place on such date due to the capacity constraint.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Tax Disclosure	Income Taxes Effective Tax Rate Our effective tax rates for the three months ended September 30, 2020 and September 30, 2019 were (9.8)% and 30.6%, respectively. We expect our effective tax rate to be approximately 27.0% in fiscal 2021. The effective tax rate for the three months ended September 30, 2020 was negatively impacted by a $1.0 million deferred tax asset adjustment. Deferred Payroll Taxes The Company has deferred $7.4 million of U.S. payroll tax as of September 30, 2020 through provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the "CARES Act"). The deferred payroll taxes are included within other liabilities in the consolidated balance sheets. The Company must repay half of the deferred payroll tax by December 31, 2021 and the remainder by December 31, 2022.

Commitments and Contingencies (

Commitments and Contingencies (Notes)	3 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance Reserves The Company maintains insurance coverage for various aspects of its operations. However, exposure to potential losses is retained through the use of deductibles, self-insured retentions and coverage limits. Typically, our contracts require us to indemnify our customers for injury, damage or loss arising from the performance of our services and provide warranties for materials and workmanship. The Company may also be required to name the customer as an additional insured up to the limits of insurance available, or we may be required to purchase special insurance policies or surety bonds for specific customers or provide letters of credit in lieu of bonds to satisfy performance and financial guarantees on some projects. Matrix maintains a performance and payment bonding line sufficient to support the business. The Company generally requires its subcontractors to indemnify the Company and the Company’s customer and name the Company as an additional insured for activities arising out of the subcontractors’ work. We also require certain subcontractors to provide additional insurance policies, including surety bonds in favor of the Company, to secure the subcontractors’ work or as required by the subcontract. There can be no assurance that our insurance and the additional insurance coverage provided by our subcontractors will fully protect us against a valid claim or loss under the contracts with our customers. Unpriced Change Orders and Claims Costs and estimated earnings in excess of billings on uncompleted contracts included revenues for unpriced change orders and claims of $13.9 million at September 30, 2020 and $14.5 million at June 30, 2020. Generally, collection of amounts related to unpriced change orders and claims is expected within twelve months. However, since customers may not pay these amounts until final resolution of related claims, collection of these amounts may extend beyond one year. Other During the third quarter of fiscal 2020, the Company commenced litigation in an effort to collect $17.8 million in accounts receivable from an iron and steel customer following the deterioration of the relationship in the second quarter of fiscal 2020. Litigation is unpredictable, however, based on the terms of the contract with this customer, the Company is entitled to collect the full amount owed under the contract. The Company and its subsidiaries are participants in various legal actions. It is the opinion of management that none of the other known legal actions, including a contract dispute with a customer involving the construction of a crude terminal, will have a material impact on the Company’s financial position, results of operations or liquidity.

Earnings per Common Share (Note

Earnings per Common Share (Notes)	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per share (“Basic EPS”) is calculated based on the weighted average shares outstanding during the period. Diluted earnings per share (“Diluted EPS”) includes the dilutive effect of stock options and nonvested deferred shares. In the event we report a loss, stock options and nonvested deferred shares are not included since they are anti-dilutive. The computation of basic and diluted earnings per share is as follows: Three Months Ended September 30, September 30, (In thousands, except per share data) Basic EPS: Net income (loss) $ (3,037) $ 6,151 Weighted average shares outstanding 26,265 26,935 Basic earnings (loss) per share $ (0.12) $ 0.23 Diluted EPS: Weighted average shares outstanding – basic 26,265 26,935 Dilutive stock options — 25 Dilutive nonvested deferred shares — 615 Diluted weighted average shares 26,265 27,575 Diluted earnings (loss) per share $ (0.12) $ 0.22 The following securities are considered antidilutive and have been excluded from the calculation of Diluted EPS: Three Months Ended September 30, September 30, (In thousands) Stock options 54 — Nonvested deferred shares 882 269 Total antidilutive securities 936 269

Segment Information (Notes)

Segment Information (Notes)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Change in Reportable Segments Due to changing markets facing our clients and to better align the financial reporting of the Company with our long-term strategic growth areas, we began reporting our financial results under new reportable segments effective July 1, 2020. The new reportable segments along with a description of each are as follows: • Utility and Power Infrastructure : consists of power delivery services provided to investor owned utilities, including construction of new substations, upgrades of existing substations, transmission and distribution line installations, upgrades and maintenance, as well as emergency and storm restoration services. The Company also provides construction and maintenance services to a variety of power generation facilities, including gas fired facilities in simple or combined cycle design, and provides engineering, fabrication, and construction services for LNG utility peak shaving facilities. • Process and Industrial Facilities : primarily serves customers in the downstream and midstream petroleum industries who are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. The Company also serves customers in various other industries such as petrochemical, sulfur, mining and minerals companies engaged primarily in the extraction of non-ferrous metals, aerospace and defense, cement, agriculture, and other industrial customers. The Company's services include plant maintenance, turnarounds, industrial cleaning services, engineering, fabrication, and capital construction. • Storage and Terminal Solutions : consists of work related to aboveground storage tanks and terminals. Also included in this segment are cryogenic and other specialty storage tanks and terminals, including LNG, liquid nitrogen/liquid oxygen, liquid petroleum and other specialty vessels such as spheres, as well as marine structures and truck and rail loading/offloading facilities. The Company's services include engineering, fabrication, construction, and maintenance and repair, which includes planned and emergency services for both tanks and full terminals. Finally, the Company offers tank products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals. All prior period segment information has been restated to conform with our new reportable segments. In addition, beginning July 1, 2020, the Company is reporting separately corporate selling, general and administrative expenses and other corporate expenses that were previously allocated to the segments. The Company evaluates performance and allocates resources based on operating income. Intersegment sales and transfers are recorded at cost; therefore, no intercompany profit or loss is recognized. Segment assets consist primarily of accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment, right-of-use lease assets, goodwill and other intangible assets. Results of Operations (In thousands) Three Months Ended September 30, September 30, Gross revenue Utility and Power Infrastructure $ 60,671 $ 47,727 Process and Industrial Facilities 46,728 155,452 Storage and Terminal Solutions 77,596 136,001 Total gross revenue $ 184,995 $ 339,180 Less: Inter-segment revenue Process and Industrial Facilities $ 797 $ 575 Storage and Terminal Solutions 1,427 508 Total inter-segment revenue $ 2,224 $ 1,083 Consolidated revenue Utility and Power Infrastructure $ 60,671 $ 47,727 Process and Industrial Facilities 45,931 154,877 Storage and Terminal Solutions 76,169 135,493 Total consolidated revenue $ 182,771 $ 338,097 Gross profit (loss) Utility and Power Infrastructure $ 6,913 $ (168) Process and Industrial Facilities 3,659 13,590 Storage and Terminal Solutions 3,778 19,742 Corporate — (699) Total gross profit $ 14,350 $ 32,465 Selling, general and administrative expenses Utility and Power Infrastructure $ 2,222 $ 2,632 Process and Industrial Facilities 4,050 6,938 Storage and Terminal Solutions 5,143 6,986 Corporate 6,713 7,135 Total selling, general and administrative expenses $ 18,128 $ 23,691 Restructuring costs Utility and Power Infrastructure $ 11 $ — Process and Industrial Facilities (500) — Storage and Terminal Solutions 13 — Corporate 156 — Total restructuring costs $ (320) $ — Operating income (loss) Utility and Power Infrastructure $ 4,680 $ (2,800) Process and Industrial Facilities 109 6,652 Storage and Terminal Solutions (1,378) 12,756 Corporate (6,869) (7,834) Total operating income (loss) $ (3,458) $ 8,774 Total assets by segment were as follows: September 30, June 30, Utility and Power Infrastructure $ 95,415 $ 67,398 Process and Industrial Facilities 115,056 138,734 Storage and Terminal Solutions 180,667 187,167 Corporate 121,092 124,011 Total segment assets $ 512,230 $ 517,310

Restructuring Costs (Notes)

Restructuring Costs (Notes)	3 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs During the second half of fiscal 2020, the Company implemented a business improvement plan related to: • its strategic initiative to exit the domestic iron and steel industry; • the implementation of business improvements in the power delivery portion of the Utility and Power Infrastructure segment; and • the reduction of its cost structure following the decline in revenue caused by the COVID-19 pandemic and related market disruption and the decline in the price of crude oil. The business improvement plan consisted of discretionary cost reductions, workforce reductions and closures of certain offices in order to increase the utilization of the Company's staff and bring the cost structure of the business in line with the expected near-term decrease in revenue. The Company incurred $14.0 million of restructuring costs during fiscal 2020 and substantially completed its restructuring activities under the business improvement plan. However, the Company recognized a $0.3 million gain on restructuring activities during the three months ended September 30, 2020 as a result of various trailing restructuring expenses and credits. The restructuring reserve was $0.9 million as of September 30, 2020, which primarily relates to the unpaid portion of severance costs.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation - Lease Accounting Policy (Policies)	3 Months Ended
	Sep. 30, 2020
Disclosure Text Block [Abstract]
New Accounting Pronouncements, Policy	Credit Losses Adoption of New Credit Losses Standard On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which changed how the Company accounts for credit losses, including those related to its accounts receivable and contract assets. Under this guidance, a financial asset (or a group of financial assets) are required to be presented at the net amount expected to be collected. The income statement reflects any increases or decreases of expected credit losses that have taken place during the period. The amendments in this update eliminate the probable initial recognition threshold and, instead, reflect the Company's current estimate of all lifetime expected credit losses on its accounts receivable and contract asset balances. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amounts. The Company determines its allowance for credit losses by using a loss-rate methodology, in which it assesses historical write-offs against total receivables and contract asset balances over several periods. In addition, the Company places reserves on specific balances as needed based on the most recent estimates of collectibility. The Company's adoption of this standard on July 1, 2020 did not have a material impact on its estimate of the allowance for credit losses.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 30, 2020
Contract with Customer, Asset and Liability [Abstract]
Contract with Customer, Asset and Liability [Table Text Block]	The following table provides information about CIE and BIE: September 30, June 30, Change (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 57,694 $ 59,548 $ (1,854) Billings on uncompleted contracts in excess of costs and estimated earnings (63,523) (63,889) 366 Net contract liabilities $ (5,829) $ (4,341) $ (1,488)
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue [Table Text Block]	Contract Type Disaggregation: Three Months Ended September 30, September 30, (In thousands) Fixed-price contracts $ 133,356 $ 176,320 Time and materials and other cost reimbursable contracts 49,415 161,777 Total Revenue $ 182,771 $ 338,097
Revenue from External Customers by Geographic Areas	The following series of tables presents revenue disaggregated by geographic area where the work was performed and by contract type: Geographic Disaggregation: Three Months Ended September 30, September 30, (In thousands) United States $ 161,377 $ 314,416 Canada 19,611 21,170 Other international 1,783 2,511 Total Revenue $ 182,771 $ 338,097

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense in the condensed consolidated statements of income are as follows: Three Months Ended September 30, 2020 September 30, 2019 Lease expense Location of Expense in Statements of Income (in thousands) Operating lease expense Cost of revenue and selling, general and administrative expenses $ 2,488 $ 3,117 Short-term lease expense (1) Cost of revenue 5,975 9,608 Total lease expense $ 8,463 $ 12,725 (1) Primarily represents the lease expense of construction equipment that is subject to month-to-month rental agreements with expected rental durations of less than one year.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The future undiscounted lease payments, as reconciled to the discounted operating lease liabilities presented in the Company's Condensed Consolidated Balance Sheets, were as follows: September 30, 2020 Maturity Analysis: (in thousands) Remainder of Fiscal 2021 $ 6,313 Fiscal 2022 5,542 Fiscal 2023 3,871 Fiscal 2024 2,862 Fiscal 2025 2,300 Thereafter 9,647 Total future operating lease payments 30,535 Less: imputed interest (5,130) Net present value of future lease payments 25,405 Less: current portion of operating lease liabilities 6,585 Non-current operating lease liabilities $ 18,820
Other Information Related to Leases [Table Text Block]	The following is a summary of the weighted average remaining operating lease term and weighted average discount rate as of September 30, 2020: Weighted-average remaining lease term (in years) 6.4 years Weighted-average discount rate 5.6 % Supplemental cash flow information related to leases is as follows: Three Months Ended September 30, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,102 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 902

Intangible Assets Including G_2

Intangible Assets Including Goodwill (Tables)	3 Months Ended
	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Schedule of Goodwill [Table Text Block]	The changes in the carrying value of goodwill by segment are as follows: Utility and Power Infrastructure Process and Industrial Facilities Storage and Terminal Solutions Total (In thousands) Net balance at June 30, 2020 $ 6,905 $ 26,846 $ 26,618 $ 60,369 Translation adjustment (1) 21 7 40 68 Net balance at September 30, 2020 $ 6,926 $ 26,853 $ 26,658 $ 60,437 (1) The translation adjustments relate to the periodic translation of Canadian Dollar and South Korean Won denominated goodwill recorded as a part of prior acquisitions in Canada and South Korea, in which the local currency was determined to be the functional currency.
Schedule Of Intangible Assets Excluding Goodwill Table [Text Block]	Information on the carrying value of other intangible assets is as follows: At September 30, 2020 Useful Life Gross Carrying Accumulated Net Carrying (Years) (In thousands) Intellectual property 10 to 15 $ 2,558 $ (1,979) $ 579 Customer-based 6 to 15 17,062 (9,354) 7,708 Total amortizing intangible assets $ 19,620 $ (11,333) $ 8,287 At June 30, 2020 Useful Life Gross Carrying Accumulated Net Carrying (Years) (In thousands) Intellectual property 10 to 15 $ 2,579 $ (1,956) $ 623 Customer-based 6 to 15 21,840 (13,626) 8,214 Total amortizing intangible assets $ 24,419 $ (15,582) $ 8,837
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Period ending: Remainder of Fiscal 2021 $ 1,679 Fiscal 2022 1,812 Fiscal 2023 1,729 Fiscal 2024 1,416 Fiscal 2025 1,096 Fiscal 2026 555 Total estimated remaining amortization expense at September 30, 2020 $ 8,287

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Availability Under the Senior Credit Facility	Availability at September 30, 2020 under the senior secured revolving credit facility established under the Prior Credit Agreement was as follows: September 30, June 30, (In thousands) Senior secured revolving credit facility $ 300,000 $ 300,000 Capacity constraint due to the Leverage Ratio 204,135 162,864 Capacity under the credit facility 95,865 137,136 Letters of credit 34,766 34,529 Borrowings outstanding 9,383 9,208 Availability under the senior secured revolving credit facility $ 51,716 $ 93,399

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The computation of basic and diluted earnings per share is as follows: Three Months Ended September 30, September 30, (In thousands, except per share data) Basic EPS: Net income (loss) $ (3,037) $ 6,151 Weighted average shares outstanding 26,265 26,935 Basic earnings (loss) per share $ (0.12) $ 0.23 Diluted EPS: Weighted average shares outstanding – basic 26,265 26,935 Dilutive stock options — 25 Dilutive nonvested deferred shares — 615 Diluted weighted average shares 26,265 27,575 Diluted earnings (loss) per share $ (0.12) $ 0.22
Antidilutive Securities Excluded from the Calculation of Diluted EPS	The following securities are considered antidilutive and have been excluded from the calculation of Diluted EPS: Three Months Ended September 30, September 30, (In thousands) Stock options 54 — Nonvested deferred shares 882 269 Total antidilutive securities 936 269

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Results of Operations	Results of Operations (In thousands) Three Months Ended September 30, September 30, Gross revenue Utility and Power Infrastructure $ 60,671 $ 47,727 Process and Industrial Facilities 46,728 155,452 Storage and Terminal Solutions 77,596 136,001 Total gross revenue $ 184,995 $ 339,180 Less: Inter-segment revenue Process and Industrial Facilities $ 797 $ 575 Storage and Terminal Solutions 1,427 508 Total inter-segment revenue $ 2,224 $ 1,083 Consolidated revenue Utility and Power Infrastructure $ 60,671 $ 47,727 Process and Industrial Facilities 45,931 154,877 Storage and Terminal Solutions 76,169 135,493 Total consolidated revenue $ 182,771 $ 338,097 Gross profit (loss) Utility and Power Infrastructure $ 6,913 $ (168) Process and Industrial Facilities 3,659 13,590 Storage and Terminal Solutions 3,778 19,742 Corporate — (699) Total gross profit $ 14,350 $ 32,465 Selling, general and administrative expenses Utility and Power Infrastructure $ 2,222 $ 2,632 Process and Industrial Facilities 4,050 6,938 Storage and Terminal Solutions 5,143 6,986 Corporate 6,713 7,135 Total selling, general and administrative expenses $ 18,128 $ 23,691 Restructuring costs Utility and Power Infrastructure $ 11 $ — Process and Industrial Facilities (500) — Storage and Terminal Solutions 13 — Corporate 156 — Total restructuring costs $ (320) $ — Operating income (loss) Utility and Power Infrastructure $ 4,680 $ (2,800) Process and Industrial Facilities 109 6,652 Storage and Terminal Solutions (1,378) 12,756 Corporate (6,869) (7,834) Total operating income (loss) $ (3,458) $ 8,774 Total assets by segment were as follows: September 30, June 30, Utility and Power Infrastructure $ 95,415 $ 67,398 Process and Industrial Facilities 115,056 138,734 Storage and Terminal Solutions 180,667 187,167 Corporate 121,092 124,011 Total segment assets $ 512,230 $ 517,310

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Operating lease right-of-use assets	$ 20,152	$ 21,375
Operating Lease, Liability	$ 25,405

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Revenue, Performance Obligation [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 490,400
Performance obligations to be recognized as revenue within next twelve months	386,000
Contract with Customer, Asset and Liability [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	57,694		$ 59,548
Change in CIE	(1,854)
Billings on uncompleted contracts in excess of costs and estimated earnings	(63,523)		(63,889)
Change in BIE	366
Change in net contract balances	(1,488)
Contract with customer, current liability, net	(5,829)		(4,341)
Contract with Customer, Liability, Revenue Recognized	41,200
Disclosure Customer Contracts Additional Information [Abstract]
Construction Contractor, Receivable, Retainage, Year One	33,000		37,300
Construction Contractor, Receivable, Retainage, after Year One	3,800		$ 1,600
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	182,771	$ 338,097
Fixed-price Contract
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	133,356	176,320
Time-and-materials Contract
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	49,415	161,777
United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	161,377	314,416
Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	19,611	21,170
Other international
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 1,783	$ 2,511

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2020USD ($)Rate
Leases [Abstract]
Percentage of real estate leases | Rate	90.00%
Operating lease term (up to)	15 years
Operating lease right-of-use asset impairment | $	$ 200

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Lease, Cost [Abstract]
Operating lease expense	$ 2,488	$ 3,117
Short-term lease expense	5,975	9,608
Total lease expense	$ 8,463	$ 12,725

Leases - Maturity Analysis (Det

Leases - Maturity Analysis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of Fiscal 2020	$ 6,313
Fiscal 2021	5,542
Fiscal 2022	3,871
Fiscal 2023	2,862
Fiscal 2024	2,300
Thereafter	9,647
Total future operating lease payments	30,535
Less: imputed interest	(5,130)
Net present value of future lease payments	25,405
Less: current portion of operating lease liabilities	6,585	$ 7,568
Non-current operating lease liabilities	$ 18,820	$ 19,997

Leases - Other Lease Informatio

Leases - Other Lease Information (Details)	Sep. 30, 2020Rate
Other Lease Information [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	5.60%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Disclosures (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2020USD ($)
Supplemental Cash Flow Information [Abstract]
Cash paid for operating leases	$ 3,102
Right-of-use asset obtained in exchange for operating lease liability	$ 902

Intangible Assets Including G_3

Intangible Assets Including Goodwill - Carrying Value of Goodwill By Segment (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Line Items]
Goodwill	$ 60,437
Goodwill [Roll Forward]
Net balance at June 30, 2019	60,369
Translation adjustment	68
Net balance at September 30, 2020	60,437
Utility and Power Infrastructure [Member]
Goodwill [Line Items]
Goodwill	6,926
Goodwill [Roll Forward]
Net balance at June 30, 2019	6,905
Translation adjustment	21
Net balance at September 30, 2020	6,926
Process and Industrial Facilities
Goodwill [Line Items]
Goodwill	26,853
Goodwill [Roll Forward]
Net balance at June 30, 2019	26,846
Translation adjustment	7
Net balance at September 30, 2020	26,853
Storage and Terminal Solutions
Goodwill [Line Items]
Goodwill	26,658
Goodwill [Roll Forward]
Net balance at June 30, 2019	26,618
Translation adjustment	40
Net balance at September 30, 2020	$ 26,658

Intangible Assets Including G_4

Intangible Assets Including Goodwill - Carrying Value of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 19,620		$ 24,419
Accumulated Amortization	(11,333)		(15,582)
Net Carrying Amount	8,287		8,837
Total intangible assets, net carrying amount	8,287		8,837
Amortization of Intangible Assets	600	$ 900
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	2,558		2,579
Accumulated Amortization	(1,979)		(1,956)
Net Carrying Amount	$ 579		$ 623
Intellectual Property [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years		10 years
Intellectual Property [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years		15 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 17,062		$ 21,840
Accumulated Amortization	(9,354)		(13,626)
Net Carrying Amount	$ 7,708		$ 8,214
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years		6 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years		15 years

Intangible Assets Including G_5

Intangible Assets Including Goodwill Future Expected Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 1,679
Finite-Lived Intangible Assets, Amortization Expense, Next Year	1,812
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1,729
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1,416
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,096
Finite-Lived Intangible Assets, Amortization Expense, Year Five	555
Finite-Lived Intangible Assets, Net	$ 8,287	$ 8,837

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Credit Agreement Terms
Line Of Credit Facility Maximum Borrowing Capacity New Agreement Amount	$ 200,000
Senior secured revolving credit facility	$ 300,000	$ 300,000
Line Of Credit Facility Expiration Date	Nov. 2, 2023
Sublimit on Australian Dollar, Canadian Dollar, Euro and Pounds Sterling	$ 75,000
Sublimit on letters of credit under the credit facility	$ 200,000
Additional Margin on alternate base rate loans, Minimum	1.00%
Additional Margin on alternate base rate loans, Maximum	2.00%
Additional Margin on Adjusted LIBO, EURIBOR and CDOR loans, Minimum	2.00%
Additional Margin on Adjusted LIBO, EURIBOR and CDOR loans, Maximum	3.00%
Additional Margin on Canadian prime rate loans, Minimum	2.50%
Additional Margin on Canadian prime rate loans, Maximum	3.50%
Unused Credit Facility Fee	0.35%
Leverage Ratio, Maximum	3
Leverage Ratio, Minimum	1
Fixed Charge Coverage Ratio, Maximum	1.25
Fixed Charge Coverage Ratio, Minimum	1
Fixed Charge Coverage Ratio Share Repurchase Exclusion	$ 7,500
Amount of Limit on Asset Dispositions	20,000
Stock Repurchase Program, Authorized Amount	$ 30,000
srt:MaximumMember [Member]
Credit Agreement Terms
Unused Credit Facility Fee	0.50%

Debt - Availability Under The S

Debt - Availability Under The Senior Credit Facility (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Debt Disclosure [Abstract]
Senior credit facility	$ 300,000	$ 300,000
Capacity Constraint Due To Senior Leverage Ratio	204,135	162,864
Line Of Credit Facility Maximum Borrowing Capacity After Consideration Of Capacity Constraint	95,865	137,136
Letters of credit subject to the credit facility	34,766	34,529
Long-term Line of Credit	9,383	9,208
Availability under the senior credit facility	$ 51,716	$ 93,399

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	(9.80%)	30.60%
Expected effective tax rate, remainder of year	27.00%
Effective Income Tax Rate Reconciliation, Deduction, Other, Amount	$ 1,000,000
CARES Act Deferred Payroll Tax Liability	$ 7,400,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Project Unapproved Change Orders and Claims [Line Items]
Unapproved change orders and claims	$ 13.9	$ 14.5
Loss Contingencies [Line Items]
Contracts Receivable, Claims and Uncertain Amounts	$ 17.8

Earnings per Common Share - Com

Earnings per Common Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic [Abstract]
Net income (loss)	$ (3,037)	$ 6,151
Weighted average shares outstanding - basic (shares)	26,265	26,935
Basic EPS (US$ per share)	$ (0.12)	$ 0.23
Earnings Per Share, Diluted [Abstract]
Dilutive stock options	0	25
Dilutive nonvested deferred shares	0	615
Diluted weighted average shares (shares)	26,265	27,575
Diluted EPS (US$ per share)	$ (0.12)	$ 0.22

Earnings per Common Share - Ant

Earnings per Common Share - Antidilutive Securities Excluded from the Calculation of Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities	936	269
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities	54	0
Nonvested Deferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities	882	269

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Segment Reporting Information [Line Items]
Gross revenues	$ 184,995	$ 339,180
Revenue	182,771	338,097
Gross profit (loss)	14,350	32,465
Selling, general and administrative expenses	18,128	23,691
Restructuring costs	(320)	0
Operating income	(3,458)	8,774
Segment assets	512,230		$ 517,310
Utility and Power Infrastructure [Member]
Segment Reporting Information [Line Items]
Gross revenues	60,671	47,727
Revenue	60,671	47,727
Gross profit (loss)	6,913	(168)
Selling, general and administrative expenses	2,222	2,632
Restructuring costs	11	0
Operating income	4,680	(2,800)
Segment assets	95,415		67,398
Process and Industrial Facilities
Segment Reporting Information [Line Items]
Gross revenues	46,728	155,452
Revenue	45,931	154,877
Gross profit (loss)	3,659	13,590
Selling, general and administrative expenses	4,050	6,938
Restructuring costs	(500)	0
Operating income	109	6,652
Segment assets	115,056		138,734
Storage and Terminal Solutions
Segment Reporting Information [Line Items]
Gross revenues	77,596	136,001
Revenue	76,169	135,493
Gross profit (loss)	3,778	19,742
Selling, general and administrative expenses	5,143	6,986
Restructuring costs	13	0
Operating income	(1,378)	12,756
Segment assets	180,667		187,167
Corporate [Member]
Segment Reporting Information [Line Items]
Gross profit (loss)	0	(699)
Selling, general and administrative expenses	6,713	7,135
Restructuring costs	156	0
Operating income	(6,869)	(7,834)
Segment assets	121,092		$ 124,011
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Gross revenues	2,224	1,083
Intersegment Eliminations [Member] | Process and Industrial Facilities
Segment Reporting Information [Line Items]
Gross revenues	797	575
Intersegment Eliminations [Member] | Storage and Terminal Solutions
Segment Reporting Information [Line Items]
Gross revenues	$ 1,427	$ 508

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Restructuring costs reserve [Roll Forward]
Restructuring reserve balance	$ 900
Restructuring costs	$ 320	$ 0	$ (14,000)