Matrix Service Company
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Matrix Service Company (MTRX) investor relations material

Matrix Service Company Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary5 Feb, 2026

Executive summary

  • Revenue for Q2 FY26 was $210.5M, up 12% year-over-year, with all segments contributing to growth.

  • Net loss narrowed to $0.9M ($0.03/share), with adjusted net loss per share at $0.02.

  • Adjusted EBITDA turned positive at $2.4M, a $4.6M improvement year-over-year.

  • Backlog remains strong at $1.1B, with a book-to-bill ratio of 0.8x and a $7.3B opportunity pipeline.

  • Liquidity was $257.6M with no debt as of December 31, 2025.

Financial highlights

  • Q2 FY26 revenue: $210.5M, up from $187.2M in Q2 FY25.

  • Gross profit: $13.1M; gross margin: 6.2%, up from 5.8% year-over-year.

  • Operating loss reduced to $2.2M from $6.4M year-over-year.

  • SG&A expenses decreased to $15.1M from $17.3M, reflecting cost reductions.

  • Cash flow from operations was $7.5M for the quarter.

Outlook and guidance

  • Fiscal 2026 revenue guidance reaffirmed at $875M–$925M, representing 14–20% projected growth.

  • Management expects revenue and profitability to improve in the second half of FY26, driven by higher volumes in Storage and Terminal Solutions.

  • Long-term financial targets: >4.5% operating margin, >6.5% EBITDA margin, >12% ROIC.

  • Long-term demand remains strong, supported by multi-year investment cycles in energy, power, and industrial infrastructure.

Are STS specialty vessel costs recurring?
Address low Utility & Power book-to-bill ratio
How does strategy improve overall project margins?
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Frequently asked questions

Matrix Service Company operates in different industries including oil, gas, power and petrochemicals, industrial and commercial. Operating primarily in North America, the company offers a range of engineering, fabrication, infrastructure and construction services.

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