Matrix Service Company (MTRX) Q4 2026 earnings summary

Executive summary

• Achieved highest quarterly revenue in six years at $244.5 million, up 13% year-over-year for Q4 2026, driven by Storage & Terminal Solutions.

• Returned to profitability with net income of $1.1 million and EPS of $0.04 in Q4, compared to a net loss of $11.3 million in the prior year.

• Adjusted EBITDA improved to $6.3 million from a $4.8 million loss in Q4 FY25.

• Implemented strategic restructuring, leadership transitions, and operational improvements, including a new CEO and interim CFO.

• Maintained a robust backlog and opportunity pipeline, supporting multi-year revenue visibility.

Financial highlights

• Q4 revenue rose 13% year-over-year to $244.5 million, led by Storage & Terminal Solutions.

• Gross profit increased 140% to $19.5 million; gross margin improved to 8% from 3.8% last year.

• Net income of $1.1 million versus a loss of $11.3 million in Q4 FY25.

• Adjusted EPS was $0.16, compared to a loss of $0.28 in the prior year.

• Year-end liquidity was $283.9 million, including $223 million in cash and no debt.

Outlook and guidance

• No formal guidance provided pending appointment of a permanent CFO.

• Opportunity pipeline exceeds $7 billion, with major projects expected to replenish backlog in late fiscal 2027.

• 70%-80% of $953 million backlog expected to be executed in fiscal 2027.

• Margin profile of backlog supports double-digit gross margin, with expectations to grow above 10%.

• Multi-year infrastructure investment cycle expected to support sustained growth.