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Backlog by Segment
Breaks down the backlog into specific business segments, highlighting where future growth is concentrated and potential areas of risk or opportunity.Backlog has become increasingly concentrated in Storage & Terminal Solutions—surging to dominate the book while Utility & Power and especially Process & Industrial have retraced from 2023 peaks. That mix shift matters: management is leaning on S&T as the near-term growth engine (backlog >$1B; S&T revenue +16% and margin gains), but Process’s backlog collapse and weak P&I margins create downside to revenue quality. Timing-driven deferrals and trimmed FY26 guidance highlight short-term execution risk; diversification into mining, data centers and LNG is critical to stabilize bookings and margins.
Date | Storage and Terminal Solutions | Utility and Power Infrastructure | Process and Industrial Facilities |
|---|---|---|---|
Jun 30, 2026 | $641.16M | $145.73M | $166.29M |
Mar 31, 2026 | $747.32M | $189.45M | $91.90M |
Dec 31, 2025 | $821.41M | $202.78M | $102.89M |
Sep 30, 2025 | $796.71M | $262.39M | $101.92M |
Jun 30, 2025 | $770.10M | $346.38M | $265.63M |
Mar 31, 2025 | $847.77M | $297.53M | $266.87M |
Dec 31, 2024 | $738.99M | $318.52M | $253.63M |
Sep 30, 2024 | $801.67M | $358.15M | $252.05M |
Jun 30, 2024 | $798.25M | $379.70M | $251.52M |
Mar 31, 2024 | $738.34M | $432.42M | $279.49M |