Matrix Service CoReturned to profitability with adjusted EPS of $0.16 vs loss, revenue up 13%, and strong cash position.

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.
Matrix Service CoReturned to profitability with adjusted EPS of $0.16 vs loss, revenue up 13%, and strong cash position.
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