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 increased 12% year-over-year to $210.5 million in Q2 FY2026, with all segments contributing to growth.

  • Net loss narrowed to $0.9 million ($0.03/share), with adjusted EBITDA turning positive at $2.4 million, reflecting improved profitability.

  • Backlog remains strong at $1.1–$1.13 billion, with a robust $7.3 billion opportunity pipeline and key segment book-to-bill ratios above 1.0.

  • Leadership transition announced: CEO John R. Hewitt to retire June 30, 2026; Shawn P. Payne to become CEO July 1, 2026.

  • $3.6 million in one-time charges and commissioning costs impacted Storage and Terminal Solutions results.

Financial highlights

  • Quarterly revenue: $210.5 million (up 12% year-over-year); gross profit: $13.1 million (up 21%); gross margin improved to 6.2%.

  • Adjusted EBITDA: $2.4 million, up $4.6 million from a loss last year.

  • SG&A expenses decreased 13% to $15.1 million due to cost reductions and lower stock-based compensation.

  • Cash and cash equivalents at period end: $199.0 million; total liquidity: $257.6 million; no outstanding debt.

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

Outlook and guidance

  • Full-year FY2026 revenue guidance reaffirmed at $875–$925 million, representing 14–20% projected growth.

  • Profitability expected to improve in the second half of FY2026, driven by large LNG and NGL projects and higher volumes.

  • Margin improvement anticipated as high-quality backlog converts to revenue; long-term demand supported by macrotrends in energy, power, and 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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