← Back

Matrix Service Co

Matrix Service Company provides engineering, fabrication, construction, and maintenance services for critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. The Storage and Terminal Solutions segment offers EPC, repair, maintenance, and fabrication services for liquid, cryogenic, and refrigerated storage and terminal facilities supporting energy markets such as LNG, NGLs, petroleum products, chemicals, hydrogen, and ammonia, and also manufactures specialty tank products including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems, and floating roof seals. The Utility and Power Infrastructure segment provides construction, maintenance, upgrades, and fabrication for power generation facilities and power infrastructure systems for customers such as public and private utilities, energy producers, and data centers, and offers integrated EPC, fabrication, and upgrade services for LNG peak shaving facilities. The Process and Industrial Facilities segment delivers engineering, construction, maintenance, and repair services across heavy industrial and energy transition markets including midstream and downstream energy, chemicals, mining and minerals, renewable fuels, and hydrogen, and engineers and constructs specialized infrastructure such as thermal vacuum test chambers for aerospace and defense. Matrix Service Company was founded in 1984 and is headquartered in Houston, Texas.

Price · split & dividend adjusted
News & notes moving MTRX
Energy Transition & Power Demand▲

Matrix Service Swings to Profit on Storage Boom, But Book-to-Bill Lags

Matrix Service Company reported fourth quarter fiscal 2026 results on September 3, with revenue climbing 13% year over year to $244.5 million and adjusted earnings per share flipping to a positive $0.16 from a $0.28 loss a year earlier. The turnaround was led by Storage and Terminal Solutions, where revenue jumped 43% to $137.4 million on higher specialty vessel and LNG storage project activity, while Utility and Power Infrastructure margins improved to 12.8% from 9.1%. For the full fiscal year, revenue rose 14% to $873.6 million from $769.3 million and adjusted EPS came in at $0.26, up $1.19 from the prior year, with the company ending debt-free on $283.9 million in total liquidity and a $953.2 million backlog backed by a $7 billion opportunity pipeline in which LNG and NGL projects make up more than 40%. Not every segment pulled its weight: Process and Industrial Facilities revenue fell to $33.6 million from $47.3 million and its gross margin dropped to 2.9% from 5.9%, while total fourth-quarter bookings of $169 million left an overall book-to-bill of just 0.7. Restructuring costs of $3.4 million tied to executive transitions contributed to a $900,000 operating loss for the quarter, and longtime chief financial officer Kevin Cavanah is departing after 23 years, with AJ Smith stepping in as interim CFO effective September 10; because of that transition, Matrix is not providing forward guidance.
MTRX ▲
Energy Transition & Power Demand ▲
Insider Monkey·5dRead more →
MTRX▲

Matrix Service Returns to Profitability in Q4 Fiscal 2026

Matrix Service Co returned to profitability in the fourth quarter of fiscal 2026, reporting adjusted earnings per share of $0.16 versus a loss of $0.28 in the prior-year quarter, with revenue up 13% to $244.5 million. The Storage and Terminal Solutions segment drove growth with a 43% revenue increase to $137.4 million, while gross margin improved to 8% from 3.8%. The company ended the year with $223 million in cash, no debt, and total liquidity of $283.9 million, and is evaluating a stock buyback. However, total project awards in Q4 were only $169 million, resulting in a book-to-bill ratio of 0.7, and backlog of $953 million is expected to be 70-80% worked off in fiscal 2027. CEO Sean Payne noted that a FEED contract for the America First refinery tank farm is due by the end of fiscal Q2 2027, with a potential lump-sum award in late Q3 or early Q4 2027, which could help rebuild backlog. The company is not providing financial guidance due to the CFO transition.
MTRX ▲
GuruFocus·15dRead more →
© 2026 MarketDXAsset