Matrix Service reaffirms FY revenue outlook

Matrix Service Co

04/02/2026 21:19

Overview

Engineering services firm's fiscal Q2 revenue increased 12% yr/yr

Adjusted EBITDA for fiscal Q2 improved

Company reaffirms full-year revenue guidance of $875 mln to $925 mln

Outlook

Matrix Service reaffirms fiscal 2026 revenue guidance of $875 mln to $925 mln

Company expects improving profitability in second half of fiscal 2026

Matrix Service sees strong long-term demand in energy and industrial markets

Result Drivers

STORAGE SEGMENT COSTS - Specialty vessel work in Storage and Terminal Solutions segment incurred $3.6 mln in costs, impacting gross margin

UTILITY SEGMENT GROWTH - Utility and Power Infrastructure segment revenue rose 23% due to higher volumes in power delivery and natural gas projects

STRATEGIC PROJECT AWARDS - Company secured strategic project awards in LNG, power generation, and electrical infrastructure, supporting backlog

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$210.50 mln
$215.42 mln (2 Analysts)
Q2 Adjusted EPS
-$0.02
$0.03 (2 Analysts)
Q2 EPS
-$0.03
Q2 Adjusted Net Income
-$700,000
$1.04 mln (1 Analyst)
Q2 Adjusted EBITDA
$2.40 mln
$2.85 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 $16.50, about 15.2% above its February 3 closing price of $14.32

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release: ID:nGNX22c8Bm

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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.)