Mattr (MATR) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $396.2 million and adjusted EBITDA of $62.8 million, driven by strong commercial execution, operational efficiency, and robust demand across all business segments.

• Connection Technologies and Composite Technologies both delivered substantial sequential and year-over-year growth, with Xerxes and AmerCable setting new production and revenue records.

• Strategic focus on higher-margin wire and cable markets, new Flexpipe product deployments, and international expansion contributed to performance.

• Secured a GICS code reclassification to the industrial sector, enhancing peer comparability.

• Extended $300 million revolving credit facility maturity to October 2030, enhancing financial flexibility.

Financial highlights

• Q2 2026 revenue increased 23.4% year-over-year to $396.2 million; adjusted EBITDA rose 47.9% to $62.8 million, with margin reaching 16%.

• Connection Technologies revenue grew 29.1% to $227.9 million with adjusted EBITDA up 75.4% to $38.7 million (17.0% margin); Composite Technologies revenue rose 16.5% to $168.3 million with adjusted EBITDA up 26.1% to $31.4 million (18.6% margin).

• Net income from continuing operations reached $19.8 million, a 633.3% increase year-over-year, with diluted EPS at $0.32 and adjusted EPS at $0.39.

• Operating cash flow was slightly negative due to working capital investments, with increased accounts receivable and inventory positioning for a strong H2.

• Capital expenditures were $6.3 million in Q2, with full-year guidance of $35–$45 million.

Outlook and guidance

• Full-year 2026 revenue and adjusted EBITDA guidance increased, with both expected to exceed 2025 levels across both segments.

• Q3 and H2 2026 adjusted EBITDA anticipated to be similar to Q2 and H1 2026, respectively, with normal seasonal slowing in Q4.

• Data center sales expected to more than double year-over-year, representing about 5% of 2026 revenue.

• Multi-year growth cycles anticipated in mining, utility, nuclear, data center, and infrastructure markets.

• Cash from operating activities in 2026 anticipated to be modestly higher than 2025.