Matrix Service Q3 revenue rises but guidance cut on delays

Matrix Service Co

06/05/2026 21:29

Overview

US engineering and construction firm's fiscal Q3 revenue rose yr/yr

Adjusted EPS and adjusted EBITDA improved from prior year

Company lowered fiscal 2026 revenue guidance due to client and weather-related delays

Outlook

Matrix Service lowers fiscal 2026 revenue guidance to $870 mln-$890 mln

Company says revenue guidance lowered due to client and weather-related delays shifting project activities

Matrix Service says project opportunity pipeline remains healthy at over $6.9 bln

Result Drivers

CLIENT AND WEATHER DELAYS - Co said Q3 revenue was affected by client-related engineering and permitting delays, as well as severe weather

PROJECT EXECUTION AND COST STRUCTURE - Improved project execution and cost structure supported adjusted EPS, per CEO John Hewitt

SEGMENT PERFORMANCE - Storage and Terminal Solutions segment revenue and margin increased due to higher LNG project activity and improved execution

Company press release: ID:nGNX1mZFtv

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$206.70 mln
$231.51 mln (2 Analysts)
Q3 Adjusted EPS
Beat
$0.13
$0.07 (1 Analyst)
Q3 EPS
$0.03
Q3 Adjusted Net Income
$3.80 mln
Q3 Adjusted EBITDA
Beat
$4.90 mln
$4.34 mln (2 Analysts)

Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Matrix Service Co is $20.00, about 43.6% above its May 5 closing price of $13.93

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 21 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)