Matrix Service Company earnings date
Matrix Service Company (MX2) Q1 2027 Earnings Report
DE:MX2 Q1 2027 EPS Results
- Actual EPS
- EUR 0.20
- Consensus EPS
- EUR 0.16
- Beat/Miss
- Beat by +EUR 0.04
- One Year Ago EPS
- -EUR 0.12
DE:MX2 Q1 2027 Revenue Results
- Actual Revenue
- EUR 196.44M
- Expected Revenue
- EUR 214.68M
- Beat/Miss
- Missed by -EUR 18.24M
- YoY Revenue Growth
- +3.55%
Earnings Announcement Details
- Quarter
- Q1 2027
- Date
- 11/04/2026
- Time
- After Close
- Conference Call
- Wednesday, November 4, 2026
Matrix Service Company's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q1 2027 Earnings Call Audio
Q1 2027 Earnings Slide Deck
Q1 2027 Earnings Call Summary
The call was broadly positive. Management reported a third consecutive profitable quarter, 4% revenue growth, improved gross margins, lower SG&A, higher adjusted EBITDA, a growing and diversified $8.2 billion opportunity pipeline, strong liquidity, and continued expansion in power generation, data centers, mining and minerals, and other end markets. The main challenges were a 0.6 book-to-bill ratio, lighter first-half award activity, a 21% decline in Utility and Power Infrastructure revenue, margin pressure in Utility and Power Infrastructure and Process and Industrial Facilities, and labor and resource constraints. The positive financial performance and strategic progress significantly outweighed the reported challenges.
Management said quarterly revenue levels for the remainder of the year are expected to be on average higher than in the first quarter, with a good SG&A run rate probably $15.5 million to $16 million a quarter, depending on activity levels and variable compensation. Award activity is expected to be lighter in the first half of fiscal '27 and to pick back up in the second half of fiscal 2027, with those awards primarily solidifying the fiscal 2028 revenue base; larger awards aren't expected to contribute really meaningfully to full year '27 revenues. The opportunity pipeline increased approximately 11%, up to $8.2 billion, and the $25 million buyback program expires in 2 years, with stock to be repurchased opportunistically based on market conditions and the liquidity position.
- Opportunity Pipeline Expanded Across Multiple MarketsThe opportunity pipeline increased from approximately $7.4 billion to $8.2 billion, an increase of approximately 11%. Growth occurred across LNG, power generation, electrical infrastructure, and mining and minerals rather than being concentrated in a single market.
- Data Center Power Generation AwardMatrix was awarded a meaningful power generation project supporting data center infrastructure. Management said the project expands participation in power generation, strengthens the company's position in the developing data center ecosystem, and supports a stable and diversified revenue base through construction-only work.
- Mining and Minerals MomentumMatrix secured several first-quarter awards with another important mining and minerals client across multiple facilities, in addition to the significant award discussed during the prior quarter.
- Broader End-Market PositioningManagement highlighted Matrix's capabilities across power generation, substations, electrical systems, LNG and NGLs, utilities, mining and minerals, and data centers. The company is seeing strong growth in its opportunity pipeline for specialized power services and is serving public utilities, private utilities, power producers, industrial customers, energy companies, and data center developers and owners.
- Execution and Workforce InitiativesProject execution remained solid, with greater consistency in opportunity evaluation, risk management, and project delivery. Matrix also established a coordinated enterprise-wide approach to recruiting, developing, and retaining craft and supervisory talent, including additional field recruiting resources, stronger trade school relationships, and enhanced internal career paths.
- Third Consecutive Profitable QuarterManagement reported the third consecutive quarter of profitability, describing it as an indicator of progress from the company's win, execute, deliver strategy.
- Revenue Growth and Higher Expected Run RateFirst-quarter revenue increased 4% to $219.4 million from $211.9 million in the first quarter of fiscal 2026, despite revenue from several booked projects slipping into future quarters. Management expects quarterly revenue levels for the remainder of the fiscal year to be on average higher than in the first quarter.
- Improved Gross Profit and MarginsGross profit increased to $18.1 million, or 8.2% of revenue, from $14.2 million, or 6.7% of revenue, in the prior-year quarter. Management attributed the improvement to strong project execution and improved overhead recovery.
- Lower SG&A and Improved EarningsSG&A decreased by $3 million year over year to $13.3 million, or 6% of revenue, partly due to lower salary and wage expense and stock compensation expense from the organizational restructuring plan. SG&A also decreased $1.9 million year over year due to variable accounting for cash-settled stock-based compensation. EPS was $0.22 versus a loss of $0.13 per share, adjusted EPS was $0.23 versus an adjusted loss of $0.01, and adjusted EBITDA increased to $7.7 million from $2.5 million.
- Storage and Terminal Solutions GrowthStorage and Terminal Solutions revenue increased 12% to $122.9 million from $109.5 million, driven by increased specialty tank and associated balance-of-plant work. Segment gross margin increased to 9% from 5.9%, supported by improved project execution and overhead cost absorption.
- Backlog Visibility and LiquidityBacklog was $873 million as of September 30, providing visibility into an improved revenue run rate through the remainder of the fiscal year and continued profitability. Total liquidity was $222 million, including $182 million of unrestricted cash and $39 million of borrowing availability under the credit facility.
- Share Repurchases and Expanded Buyback AuthorizationMatrix repurchased $2.5 million of shares during the quarter. The company amended its credit facility to expand the annual stock repurchase limit, and the Board approved a new $25 million buyback program expiring in two years, with repurchases to be made opportunistically based on market conditions and liquidity.
- Incoming CFO AppointmentDominic Savarino was appointed Senior Vice President and Chief Financial Officer effective November 6. Management highlighted his financial leadership, engineering and construction experience, operational and P&L responsibility, and background in energy and industrial infrastructure businesses.
- Construction-Only and Maintenance Work Supporting Revenue ConversionManagement said Matrix is seeing a broader mix of smaller, quick-construction projects, including construction-only and repair and maintenance work. These projects can convert revenue faster and provide a more consistent baseload of activity during fluctuations in larger EPC projects.
DE:MX2 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 10, 2027 | 2027 (Q2) | 0.16- | -0.03 | ― | ― |
| Nov 04, 2026 | 2027 (Q1) | 0.160.20 | -0.12 | 269.23% (+0.31) | |
| Sep 02, 2026 | 2026 (Q4) | 0.150.04 | -0.36 | 110.00% (+0.39) | |
| May 06, 2026 | 2026 (Q3) | 0.060.03 | -0.11 | 125.00% (+0.13) | |
| Feb 04, 2026 | 2026 (Q2) | 0.03-0.03 | -0.18 | 85.00% (+0.15) | |
| Nov 05, 2025 | 2026 (Q1) | 0.02-0.12 | -0.3 | 60.61% (+0.18) | |
| Sep 09, 2025 | 2025 (Q4) | 0.01-0.36 | -0.14 | -150.00% (-0.21) | |
| May 07, 2025 | 2025 (Q3) | -0.04-0.11 | -0.47 | 77.36% (+0.37) | |
| Feb 05, 2025 | 2025 (Q2) | -0.20-0.18 | -0.09 | -100.00% (-0.09) | |
| Nov 06, 2024 | 2025 (Q1) | -0.29-0.30 | -0.11 | -175.00% (-0.19) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
