Matrix Service Company (MTRX) Earnings
MTRX has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -374.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.07 | $0.13 | +85.7% | $207M | -10.7% |
| Feb 4, 2026 | $0.04 | $-0.02 | -150.0% | $211M | -8.2% |
| Nov 5, 2025 | $-0.03 | $-0.01 | +66.7% | $212M | -0.5% |
| Sep 9, 2025 | $0.02 | $-0.28 | -1500.0% | $216M | -6.8% |
| Feb 5, 2025 | $-0.22 | $-0.20 | +9.1% | $187M | -26.8% |
| Sep 9, 2024 | $-0.21 | $-0.14 | +33.3% | $189M | -6.6% |
| Feb 7, 2024 | $-0.10 | $-0.18 | -80.0% | $175M | -12.5% |
| Sep 11, 2023 | $-0.29 | $-0.11 | +62.1% | $206M | -7.0% |
| Feb 9, 2023 | $-0.11 | $-0.53 | -381.8% | $194M | -4.4% |
| Oct 7, 2022 | $-0.30 | $-0.52 | -70.5% | $201M | +10.4% |
| Feb 7, 2022 | $-0.28 | $-0.38 | -35.7% | $162M | -7.2% |
| Sep 13, 2021 | $-0.03 | $-0.40 | -1500.0% | $175M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Business returned to profitability in Q3 with adjusted earnings of 13 cents per fully diluted share despite revenue impact from client delays and weather. Revenue guidance midpoint reduced by 2.2% but expected to climb in Q4. - Resolved two legacy legal issues, increasing cash balance by nearly $20 million and reducing future legal spend. - Opportunity pipeline at $6.9 billion, including mining, power generation, and data center activities. - Awards in quarter below expectations but had key strategic wins like mining project notice to proceed and electrical awards for data centers. - Organizational realignment ongoing, with Sean Payne to succeed John Hewitt as CEO on July 1st, and CFO Kevin Cavanaugh and CAO Nancy Austin departing.
Guidance
- Revenue guidance midpoint reduced from $900 million to $880 million due to revenue movement, but Q4 revenue expected to climb and support continued profitability. - Expect awards in key sectors like mining, minerals, and LNG infrastructure to increase book-to-bill in fiscal 2027 and support profitability. - Sean Payne to share first 100-day roadmap as CEO on next earnings call.
Segment performance
Storage and terminal solutions segment: Revenue increased 16% to $111.6 million in Q3 (highest quarterly revenue in six years), gross margin increased to 7% from 3.9% in Q3 2025. Utility and power infrastructure segment: Revenue was $60 million vs $58.7 million last year, gross margin 13.6% vs 9.4% last year. Process and industrial facility segment: Revenue decreased to $35.1 million vs $45.4 million last year, gross margin 2.5% vs 8.3% last year, expected to rebound in fiscal 2027 due to mining project.
Risks & headwinds
- Client-related delays and weather can impact revenue. - Legacy legal issues if not resolved could affect financials. - Changes in organizational structure and leadership transitions could impact operations. - Macroeconomic and global issues affecting oil and gas market may have uncertainties for business.
Analyst Q&A
Q: Walk through puts and takes in utilities segment with sequential revenue drop but gross margin increase.
A: Good performance throughout segment, power delivery and peak shaving outperformed margin expectations, revenue down due to manpower reduction on peak shaver project.
Q: What was restructuring charges for?
A: Related to CEO transition and lease impairment due to sublease market not as strong as planned.
Q: Confidence in new projects' profitability to maintain profitability through fiscal 2027?
A: Backlog still at billions with solid margin work, confident in opportunity pipeline and award momentum to maintain revenue and profitability.
Q: Thoughts on oil and gas market benefiting Matrix?
A: Global need for secure energy supplies drives investment in U.S. energy assets, which fits Matrix's wheelhouse.
Q: Impact of legal settlements on legal spend?
A: Reduced legal spend as settlements resolved, related to construction overhead which was a drag on overhead recovery.