Matrix Service ( (MTRX) ) has released its Q3 earnings. Here is a breakdown of the information Matrix Service presented to its investors.
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Matrix Service Company is a prominent engineering and construction firm specializing in infrastructure solutions for the energy and industrial sectors, with a focus on safety, quality, and integrity. Headquartered in Tulsa, Oklahoma, the company operates across the United States, Canada, Australia, and South Korea, serving diverse markets through its three key segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.
In its fiscal year 2025 third-quarter earnings report, Matrix Service Company reported significant growth in revenue and backlog, despite a net loss. The company’s revenue increased by 21% to $200.2 million compared to the previous year, driven by strong performance in the Storage & Terminal Solutions and Utility & Power Infrastructure segments. The total backlog rose to $1.4 billion, reflecting a 7.7% increase from the previous quarter.
Key financial highlights include a net loss per share of $(0.12), an improvement from the $(0.53) loss per share in the prior year. The company achieved break-even adjusted EBITDA, a significant improvement from the $(10.0) million in the previous year. Cash flow from operations was robust at $31.2 million, with liquidity standing at $247.1 million and no outstanding debt. The book-to-bill ratio for the quarter was 1.5x, indicating strong demand across core markets.
Looking ahead, Matrix Service Company remains optimistic about its path to profitability, supported by a record-level backlog and a $7 billion project pipeline. However, the company has adjusted its fiscal year revenue guidance downward by 10% due to macroeconomic uncertainties and project timing shifts. Despite these challenges, the company is focused on executing its growing backlog with an emphasis on quality and operational excellence, while aligning its business for future market opportunities.
Matrix Service Company’s management is committed to delivering long-term shareholder value by building a resilient, growth-oriented platform that meets the evolving needs of its customers. The company is consolidating certain business aspects to improve performance and continues to evaluate and reallocate resources to areas with the best growth potential.