Matrix Service ( (MTRX) ) has released its Q1 earnings. Here is a breakdown of the information Matrix Service presented to its investors.
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Matrix Service Company is a leading provider of engineering and construction services in the energy and industrial sectors, known for its commitment to safety, quality, and integrity. Headquartered in Tulsa, Oklahoma, the company operates across the United States, Canada, Australia, and South Korea, focusing on Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities.
In its fiscal year 2026 first-quarter earnings report, Matrix Service Company announced a revenue increase of 28% to $211.9 million compared to the previous year. The company also reported a reduced net loss per share of $(0.13) compared to $(0.33) in the same quarter last year, with an adjusted net loss per share of $(0.01). The company reaffirmed its full-year revenue guidance of $875 million to $925 million, indicating a potential increase of 14% to 20%.
Key financial highlights include an adjusted EBITDA of $2.5 million, a significant improvement from the $(5.9) million reported in the previous year. The company’s liquidity stood at $248.9 million with no outstanding debt, and it reported a total backlog of $1.2 billion. Project awards for the quarter totaled $187.8 million, resulting in a book-to-bill ratio of 0.9x. Notably, the Storage and Terminal Solutions segment saw a 40% increase in revenue, driven by LNG storage and specialty vessel projects.
The Utility and Power Infrastructure segment also experienced a 33% revenue increase, benefiting from power delivery and natural gas peak shaving projects. Despite a decrease in revenue for the Process and Industrial Facilities segment, the company remains optimistic about future project awards and backlog growth.
Looking ahead, Matrix Service Company remains focused on disciplined project bidding, operational efficiency, and strategic capital allocation to drive long-term value for shareholders. The company anticipates steady award momentum and is actively pursuing large, multi-year projects for late fiscal 2026 and into fiscal 2027.