you, Good and morning, thank everyone, you Thank Kellie. for joining us.
the company’s countless referenced As long-term at earnings everything corporate of our conversations, in thinking and do our about values influences we of at and strategy. our the on is heart have calls Matrix we sense purpose prior and
to. given Service we a thought Company of The is issue the had Matrix of that purpose lot for one
make and long-term create day. people, partners, in business for quality is strategy is commitments to purpose deliver Our focus This our improved we brighter the future, and value communities. our integrated every of and life a a shareholders
and brand purpose on stakeholders. allows also value for and commitments, business, and achieve to our level requires which deliver our that achieve our our us performance, our in sustainable, we promise long-term consistent of a invest people Fulfilling
are able key This will the call so. quarter’s do address to to we ensure decisions made
Turning our now business discussion. to
quarter results our performance business challenges, as market performance select second strong Our mixed elsewhere. issues were parts and decidedly of overshadowed and
believe As strategic better I'll as in a each potential with growth. company I the to that further, the position the we result, have for success necessary long for on end organizational decisions are decisions discuss made markets we comment segment. greatest these term
Underpinning and these improved to sheet strong a decisions is for us liquidity balance our growth. which performance allow strategy and will execute
has exceptional, Specifically, than solution been in the storage project greater pipeline to continues creating planned, and earnings segment, our and execution opportunity strong. performance our be
book-to-bill for the and proposal outflow the subsequent numerically While with awards contract would not may along verbal bookings a this, strong discussions second in otherwise. January, near-term support indicate quarter
as Matrix Company a is over example, selection For contractor announced export midscale formal Jacksonville, Eagle $XXX the January, of bring Service LNG’s, to we EPC project Eagle to LNG LNG investing this fruition. million in for facility in Florida.
represents a of significant investment. The EPC contract this portion
with key However, example level of LNG capabilities. XX truck X.XX as a Market. terminal gallons our and is million backlog. approximately in LNG facility is of our day, position leader the capacity of recent production in most marine million reported small-to-midscale per facility not it the plus gallons storage to This The loading Terminal
and potential months next Overall, terminal of value exceed and the X segment XX very work with the for this over the to outlook to strong, Matrix remains billion. LNG storage NGL
turnaround margins, clients our and high performed our oil, absorbed. chemical overall a volumes, strong with reduced principal costs soft for a season under leaving construction but segment level Our gas at overhead direct
are and resulted off principal of heavy in volume. in smaller clients than Specifically, our periods scope which turnaround lower turnarounds, activities in the for quarter cycle was previous both
half of volumes We improve turnaround the back to calendar in expect the year.
oil, the and in in gas We're space. activity chemical also involved other
Salt For unit the friendly construction HF fuels ionic teams refinery. unit U.S. executing at unit high-octane, cleaner designed to example, Chevron's alkylation announced to use City produce environmentally a in burning liquids, using existing the replace more process. of our alkylation an previously the Lake installation first-ever are This will
space, the In in months. requires is it anticipated gas the billion Midstream facilities next that Gas kick new processing off in X.X another industry the processing to XX
the brand Our EPC gaining us strong service is growing. to is offering and awareness opportunities available
segment, We our expect solid, add this this value to and work incremental will business.
in a majority reach dynamics not for U.S. of end a in we for The did mechanical segment come of which rapidly this have for operating changing steel the segment our That iron and quarter, to results market construction chose reduce to this the but comprises strategic project the reliance the lightly, completion industry, for decision strong market. the were industrial the major Steel. also capital this as reasons. We in revenue decision this also following resulted path on said,
half of significant the more the looking previously a expected, downturn in This market we We the communicated, environment. than that year. second softening saw given commodity the price is in previously
growth Contributing producers no left fact there alternative factors or level resulted risk, shuttering are of business and economic our and minimizing client [Indiscernible] spending. facilities, in business imbalances, longer a a integrated have and is aligned concentration, as that models, well all the demand long-term producers capital as with these targets. maintenance supply with financial global and and are combined strategy presents very trade This that and iron which issues, few looking of steel to
to completion of at a quarter. formally second over the for achieved executing steel our construction be PROTEC in project mechanical late two communicated called December. past previous being late on site end as Finally, led off team complete fiscal was We years, the our venture moved November and joint we've U.S. major of capital calls, that scheduled
for our That decline, other With this dynamics earlier, this market just exasperated been future as were by has project earnings complete, to expected decline. I business of discussed. said part the
construction revenue, and margin. long enterprise our material impairment overhead best quarter. the segment the to strategic reduce required for us impacts related this recovery on also market, non-cash a term decision industrial end Our cost as It in to take well our focus charge while as
market, reflect the no to associated fit to revised as We reorganize longer that this monetize on the focus operations that assets business strategy. as are the well working
to enjoyed segment, Matrix Turning infrastructure the fact long quarter in that history of of results a the has despite to our performance the a disappointing in electrical choice northeast. continue be now contractor profitable as
highly that EPC or a EPC generation work, in underlying smaller from As to you mechanical shift an years, such on owners. construction made there's package other service been away for as us and shift That focuses projects or strength centerline project we contractors may recall, years three segment. ago full, one to three erection, generation successful this electric has
the results. services services The balance talent provided revenue to issues of to operating led and negatively also and is our impacted poor by volumes. in has pool transmission low power been localized right of impediment distribution the project have Access execution an to and this expansion delivery session organic where
changes plan performance gross as All albeit that company non-cash we After of are XX% reduced over revenue quarter. the portion improvement the or which been the impact with volumes. margins this extensive impairment at our will segment had of performance has and volume, level implemented operating in issue The this take the analysis, confident increase hold. above in plan operation, expected a for caused overall the has a discussed and of performance is just
we direction to strategic our our There our through the in confident while expectations, also of performance question and on achieve That have strategic in is this expansion, before long-term identified base segment our our working and remain want to the an market, from we acquisitions. improvement implemented. no strategy. remains ability and electrical growing We expanding focusing said, corrective infrastructure important further of achieve performance part actions
Despite our as very the markets committed be robust continues revenue to to connection opportunities. market. a price We industrial long to markets diversified infrastructure electrical Service creating and position, in spending Company with challenges strong growing that are not a the renewable sensitive, streams, segments, include entering and in commodity are better to energy needs, term Matrix infrastructure remain
resources, changes We which well in all reduction improvement support implementing performance performance operating result and of are includes capital will plans that the have a that as organization. and organizational as across developed expenditures of improved overhead
incurred our near see to we better, there designed and to in our bottom-line adjusted a higher best, focus results. strategic be platform the and may is restricting improve third topline our competitive smaller some While supports live cost achieve standard will performance term performance quarter, and of
vessels big The share attack improve predictability, strategic objectives our NGOs and is in gas refining the mid-stream speciality overall processing to market picture from profitability business core for services for and expand our terminals in project capabilities and chain to America. North our value LNG, and
response will a renewables, and of and secure run define to a for role operations, our transmission, more storm substations digital Moving base maintenance fixed technology. electrical petrochemicals batteries and chemicals suite distribution, and to full nationwide footprint services infrastructure in also with
brand and finally, our position, lead the offering maintain terminals, while we our terminal South deploy include and storage and America. and products Caribbean, will further will into capabilities our internationally Mexico tanks tank We expanding
leaner, While rate focused we company. lower a business be operating are and a will the revenue Matrix more at run
solutions where terminals. we are Our business vessels ground today segment, and leader EPC in and by speciality anchored above fabrication is our tanks, storage storage a of
great but Our plays to we that be focused have so. able intently business are chemical are our that industry electrical for fixing a confident and and on segments foundation we oil, plagued process issues gas will growth, do
financial company's balance and strong sheet continues to stability business and execute liquidity Matrix position, plan. ability a reflects the to our which maintain
now the I'll call turn Kevin. over to
