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Matrix Service NASDAQ: MTRX reported improved fourth-quarter fiscal 2026 results, including higher revenue, stronger gross margins and a return to adjusted profitability, as the engineering and construction contractor advances a strategic plan aimed at improving project selection, execution and cost discipline.

HOUSTON, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX, "Matrix" or "the Company"), a leading heavy industrial contractor that engineers, constructs, and maintains critical energy, power, and industrial infrastructure, today announced financial results for the fourth quarter of fiscal 2026 ended June 30, 2026.

FOURTH QUARTER FISCAL 2026 HIGHLIGHTS
(all comparisons versus the prior year period unless otherwise noted)

Revenue of $244.5 million versus $216.4 million; highest quarterly revenue in six yearsNet income of $1.1 million, or $0.04 per share versus net loss of $(11.3) million or $(0.40) per shareAdjusted net income(1) of $4.6 million, or $0.16 per share versus adjusted net loss of $(7.8) million, or $(0.28) loss per share; second consecutive quarter of profitabilityAdjusted EBITDA(1) of $6.3 million versus $(4.8) millionLiquidity(2) at June 30, 2026 of $283.9 million with no outstanding debtTotal backlog of $953.2 million, with awards of $169.0 million FULL-YEAR FISCAL 2026 RESULTS
(all comparisons versus the prior year period unless otherwise noted)

Revenue of $873.6 million versus $769.3 millionNet loss per share of $(0.09) versus $(1.06); adjusted net income (loss) per share of $0.26 versus $(0.93)Adjusted EBITDA of $16.0 million versus $(12.9) million (1) Adjusted net income and adjusted net income per diluted share are non-GAAP financial measures which exclude restructuring expense, Adjusted EBITDA is a non-GAAP financial measure which excludes interest expense, interest income, income taxes, depreciation and amortization expense, restructuring expense, and stock-based compensation. See the Non-GAAP Financial Measures section included at the end of this release for a reconciliation to net income and net income per share.
(2) Liquidity includes unrestricted cash, cash equivalents and borrowing availability under a $90 million ABL facility maturing in September 2029

MANAGEMENT COMMENTARY

“Our fourth quarter results reflect the continued execution of our WIN, EXECUTE, DELIVER strategy. The combination of strong project execution, a more efficient cost structure, and a disciplined focus on the initiatives that matter most resulted in our second consecutive quarter of profitable growth," stated Shawn P. Payne, President and Chief Executive Officer. "Revenue grew 13% year over year as our teams converted backlog into higher volumes, led by specialty storage activity in our Storage and Terminal Solutions segment and continued strong execution in Utility and Power Infrastructure. At the same time, the leaner organizational structure we have built over the past 18 months has meaningfully reduced our fixed overhead costs, while enabling us to support a higher base of revenue with improved efficiency. We enter fiscal 2027 with a debt-free balance sheet and substantial liquidity to support our growth objectives in this next chapter.

“Matrix is focused on high-value opportunities, prioritizing backlog growth across our targeted end-markets,” continued Payne. “We secured nearly $170 million of project awards in the fourth quarter, including a major mining construction project in the western United States. This project, which supported a book-to-bill ratio of 3.2x in our Process and Industrial Facilities during the fourth quarter, expands our position in the non-ferrous mining and critical minerals market, broadens the range of end markets served by our engineering and construction capabilities, and represents an important new client relationship that we expect to expand over time.

"Fiscal 2026 was a pivotal year for Matrix," concluded Payne. "Our opportunity pipeline has grown to over $7 billion, reflecting generational levels of investment underway across the markets we serve, including LNG and NGL infrastructure, power generation, electric grid modernization, data centers, and mining and minerals production. A number of larger, multi-year opportunities within that pipeline have advanced meaningfully, and we anticipate a higher level of award activity as those targets reach final investment decision. Looking ahead, we are focused on driving profitable growth, executing projects safely, on time and on budget, and deploying capital with discipline as we seek to drive long-term value creation for our clients and shareholders.”

FISCAL 2026 FOURTH QUARTER CONSOLIDATED RESULTS

Fiscal 2026 fourth quarter revenue was $244.5 million, compared to $216.4 million in the fourth quarter of fiscal 2025. The increase in revenue for the quarter was attributable to higher revenue in the Storage and Terminal Solutions segment, partially offset by lower revenue in the Process and Industrial Facilities segment.

Gross profit was $19.5 million, or 8.0% of revenue, in the fourth quarter of fiscal 2026 compared to $8.1 million, or 3.8% of revenue, for the fourth quarter of fiscal 2025. The increase in gross margin was due to higher gross margins in the Storage and Terminal Solutions and Utility and Power Infrastructure segments, partially offset by lower gross margins in the Process and Industrial Facility segment.

SG&A expenses were $16.9 million in the fourth quarter of fiscal 2026, compared to $17.6 million for the fourth quarter of fiscal 2025. The decrease in SG&A expenses primarily reflects the reduction of costs associated with the Company's organizational realignment initiatives over the last 12 months partially offset by variable compensation tied to a return to profitable performance.

During the quarter, the Company incurred $3.4 million of restructuring costs and other expenses, which included costs associated with the previously announced leadership transitions, as well as costs associated with actions taken in the fourth quarter to reduce our cost structure by reducing our workforce.

For the fourth quarter of fiscal 2026, the Company had net income of $1.1 million, or $0.04 per share, compared to a net loss of $11.3 million, or $(0.40) per share, in the fourth quarter of fiscal 2025. Adjusted net income for the fourth quarter of fiscal 2026 was $4.6 million, or $0.16 per share, compared to adjusted net loss of $7.8 million, or $(0.28) per share in the fourth quarter of fiscal 2025. Adjusted EBITDA for the fourth quarter of fiscal 2026 was $6.3 million compared to a loss of $4.8 million for the fourth quarter of fiscal 2025.

FISCAL 2026 FOURTH QUARTER SEGMENT RESULTS

Storage and Terminal Solutions segment revenue increased 43% to $137.4 million in the fourth quarter of fiscal 2026 compared to $96.1 million in the fourth quarter of fiscal 2025, due to higher specialty storage activity. Gross margin was 6.4% in the fourth quarter of fiscal 2026, compared to (1.1)% in the fourth quarter of fiscal 2025. In the fourth quarter of fiscal 2025, the Company lowered its recovery expectations on a legacy project completed in fiscal 2021 that was in arbitration which resulted in a $6.4 million decrease to both revenue and gross margin. The matter was fully resolved in fiscal 2026.

Utility and Power Infrastructure segment revenue was $73.5 million in the fourth quarter of fiscal 2026, which was consistent with the prior year period. Gross margin was 12.8% in the fourth quarter of fiscal 2026, compared to 9.1% for the fourth quarter of fiscal 2025, an increase of 3.7% due to strong project execution.

Process and Industrial Facilities segment revenue decreased to $33.6 million in the fourth quarter of fiscal 2026 compared to $47.3 million in the fourth quarter of fiscal 2025, primarily due to lower revenue volumes for refinery work, partially offset by an increase in revenue for a mining project. Gross margin was 2.9% in the fourth quarter of fiscal 2026, compared to 5.9% for the fourth quarter of fiscal 2025, a decrease of 3.0%, primarily due to a mix of work, as well as an increase in under-recovery of overhead costs as a result of lower revenue.

BACKLOG

Total backlog was $953.2 million as of June 30, 2026. Project awards totaled $169.0 million in the fourth quarter of fiscal 2026, resulting in a book-to-bill ratio of 0.7x for the quarter. Project awards during the fourth quarter for fiscal 2026 were driven primarily by activity in the Process and Industrial Facilities segment, including a major mining construction project in the western United States.

The table below summarizes awards, book-to-bill ratios and backlog by segment for the fourth quarter ended June 30, 2026 (amounts are in thousands, except for book-to-bill ratios):

  Three Months Ended    June 30, 2026 Backlog as of
 Segment:Awards Book-to-Bill(1) June 30, 2026 Storage and Terminal Solutions$                       31,201 0.2x $                     641,159 Utility and Power Infrastructure                          29,805 0.4x                         145,732 Process and Industrial Facilities                        108,036 3.2x                         166,287 Total$                     169,042 0.7x $                     953,178          _______________

(1)      Calculated by dividing project awards by revenue recognized during the period.

BALANCE SHEET & LIQUIDITY

As of June 30, 2026, Matrix had total liquidity of $283.9 million. Liquidity is comprised of $223.0 million of unrestricted cash and cash equivalents and $60.9 million of borrowing availability under the credit facility. The Company also has $25.0 million of restricted cash to support the credit facility. As of June 30, 2026, the Company had no outstanding debt.

CONFERENCE CALL DETAILS

In conjunction with the earnings release, Matrix Service Company will host a conference call with Shawn P. Payne, President and CEO, Kevin S. Cavanah, Vice President and CFO, and Patrick Roberts, Director, Corporate Development and Investor Relations. The call will take place at 10:30 a.m. (Eastern) / 9:30 a.m.  (Central) on Thursday, September 3, 2026.

Investors and other interested parties can access a live audio-visual webcast using this webcast link: https://edge.media-server.com/mmc/p/iaonjazk, or through the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations.

If you would like to dial in to the conference call, please register at https://register-conf.media-server.com/register/BIa70ac1007e5d4738bedd41c695baab7f at least 10 minutes prior to the start time. Upon registration, participants will receive a dial-in number and unique PIN to join the call as well as an e-mail confirmation with the details.

For those unable to participate in the conference call, a replay of the webcast will be available on the Investor Relations page of the Company's website.

The conference call will be recorded and will be available for replay within one hour of completion of the live call and can be accessed following the same link as the live call.

ABOUT MATRIX SERVICE COMPANY

Matrix Service Company (Nasdaq: MTRX) is a leading heavy industrial contractor that engineers, constructs, and maintains critical energy, power, and industrial infrastructure. Our commitment to safety, quality, and integrity has earned the Company a leadership position in providing infrastructure solutions across multiple end markets. Our work is foundational to helping our energy, power, and industrial clients achieve their objectives, positively impact quality of life through the products they provide and improve the efficiency and resilience of their critical infrastructure. We pride ourselves on our commitment to our culture and core values, offering an inclusive and respectful work environment, and being certified as a Great Place To Work®.

The Company maintains its principle executive offices in Houston, Texas with offices located throughout the United States and Canada, as well as Sydney, Australia, and Seoul, South Korea. The Company reports its financial results in three key operating segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities.

To learn more about Matrix Service Company, visit matrixservicecompany.com

FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance, financial guidance, sustained profitable growth and management’s best judgment as to what may occur in the future.  Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including the successful implementation of the Company's business improvement plan and the factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition.  We undertake no obligation to update information contained in this release, except as required by law.

Investors should note that the Company announces material financial information in SEC filings, press releases, presentations and public conference calls. Based on guidance from the SEC, the Company may use the Investors section of its website (www.matrixservicecompany.com) to communicate with investors, and the Company intends to post presentations there, among other things. It is possible that the financial and other information posted there could be deemed to be material information. The information on the Company’s website is not part of, and is not incorporated into, this release.

INVESTOR RELATIONS CONTACT

Patrick Roberts
Matrix Service Company
Director, Corporate Development and Investor Relations
T: 918-359-8249
Email: [email protected]

Matrix Service Company
Consolidated Statements of Income
 (In thousands, except per share data)
  Three Months Ended Fiscal Years Ended June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2025Revenue$244,531  $216,377  $873,632  $769,286 Cost of revenue 225,049   208,255   809,680   729,609 Gross profit 19,482   8,122   63,952   39,677 Selling, general and administrative expenses 16,946   17,581   63,607   71,173 Restructuring costs and other 3,427   3,448   9,963   3,572 Operating loss (891)  (12,907)  (9,618)  (35,068)Other income (expense):       Interest expense (107)  (150)  (437)  (518)Interest income 2,182   1,984   7,717   6,652 Other 47   249   114   (64)Income (loss) before income tax expense 1,231   (10,824)  (2,224)  (28,998)Provision for federal, state and foreign income taxes 89   448   356   464 Net income (loss)$1,142  $(11,272) $(2,580) $(29,462)        Basic income (loss) per common share$0.04  $(0.40) $(0.09) $(1.06)Diluted income (loss) per common share$0.04  $(0.40) $(0.09) $(1.06)Weighted average common shares outstanding:       Basic 28,392   27,884   28,295   27,769 Diluted 28,524   27,884   28,295   27,769                  Matrix Service Company
Consolidated Balance Sheets
 (In thousands)
     June 30,
2026 June 30,
2025Assets   Current assets:   Cash and cash equivalents$222,966 $224,641Accounts receivable, net of allowance for credit losses 171,955  154,994Costs and estimated earnings in excess of billings on uncompleted contracts 29,231  29,764Inventories 6,190  5,917Income taxes receivable 82  110Prepaid expenses and other current assets 4,278  4,347Assets held for sale 948  —Total current assets 435,650  419,773Restricted cash 25,000  25,000Property, plant and equipment, net 36,261  42,097Operating lease right-of-use assets 14,849  17,827Goodwill 28,878  29,047Other intangible assets, net of accumulated amortization —  555Other assets, non-current 61,967  65,957Total assets$602,605 $600,256     Matrix Service Company
Consolidated Balance Sheets (continued)
 (In thousands, except share data)
  June 30,
2026 June 30,
2025Liabilities and stockholders’ equity   Current liabilities:   Accounts payable$108,722  $80,453 Billings on uncompleted contracts in excess of costs and estimated earnings 299,947   323,593 Accrued wages and benefits 19,158   18,961 Accrued insurance 4,447   5,310 Operating lease liabilities 4,363   4,441 Other accrued expenses 5,779   3,617 Total current liabilities 442,416   436,375 Deferred income taxes 22   25 Operating lease liabilities 15,094   16,986 Other liabilities, non-current 3,218   4,154 Total liabilities 460,750   457,540 Stockholders’ equity:   Common stock—0.01 par value; 60,000,000 shares authorized; 28,133,850 shares issued and outstanding as of June 30, 2026; 27,888,217 shares issued and 27,610,486 shares outstanding as of  June 30, 2025, respectively 281   279 Additional paid-in capital 150,483   149,969 Retained earnings 1,899   4,479 Accumulated other comprehensive loss (10,808)  (9,403)Treasury stock, at cost; 0 and 277,731 shares as of June 30, 2026 and June 30, 2025; —   (2,608)Total stockholders' equity 141,855   142,716 Total liabilities and stockholders’ equity$602,605  $600,256          Matrix Service Company
Condensed Consolidated Statements of Cash Flows
 (In thousands)
  Three Months Ended Fiscal Years Ended June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2025        Operating activities:       Net income (loss)$1,142  $(11,272) $(2,580) $(29,462)Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:       Depreciation and amortization 1,936   2,474   8,640   10,012 Stock-based compensation expense 1,669   2,150   7,145   8,904 Operating lease impairment due to restructuring 520   —   2,935   — Loss (gain) on disposal of property, plant and equipment (149)  130   (606)  8 Other (90)  126   146   234 Changes in operating assets and liabilities increasing (decreasing) cash:       Accounts receivable, net of allowance for credit losses 4,746   40,006   (11,296)  (48,796)Costs and estimated earnings in excess of billings on uncompleted contracts (4,314)  8,803   533   4,129 Inventories (181)  472   (273)  2,922 Other assets and liabilities 2,913   2,811   (2,398)  (2,309)Accounts payable 18,595   1,859   27,747   14,814 Billings on uncompleted contracts in excess of costs and estimated earnings (40,757)  (9,064)  (23,646)  152,285 Accrued expenses 5,160   2,213   560   4,730 Net cash provided (used) by operating activities (8,810)  40,708   6,907   117,471 Investing activities:       Capital expenditures (1,379)  (2,260)  (5,483)  (7,685)Proceeds from sale of property, plant and equipment 459   3   1,942   240 Net cash used by investing activities (920)  (2,257)  (3,541)  (7,445)Financing activities:       Payment of debt amendment fees —   —   (149)  — Proceeds from issuance of common stock under employee stock purchase plan 58   46   202   195 Payments related to tax withholding for stock-based compensation —   —   (4,223)  (1,235)Net cash provided (used) by financing activities 58   46   (4,170)  (1,040)Effect of exchange rate changes on cash (383)  603   (871)  40 Net increase (decrease) in cash and cash equivalents (10,055)  39,100   (1,675)  109,026 Cash, cash equivalents and restricted cash, beginning of period 258,021   210,541   249,641   140,615 Cash, cash equivalents and restricted cash, end of period$247,966  $249,641  $247,966  $249,641 Supplemental disclosure of cash flow information:       Cash paid during the period for:       Income taxes$218  $289  $312  $328 Interest$78  $79  $378  $395                  Matrix Service Company
Results of Operations
 (In thousands)
  Storage and
Terminal
Solutions Utility and
Power
Infrastructure Process and
Industrial
Facilities Corporate Total Three Months Ended June 30, 2026Total revenues (1)$137,364  $73,520  $33,647  $—  $244,531 Cost of revenue (128,516)  (64,102)  (32,667)  236   (225,049)Gross profit 8,848   9,418   980   236   19,482 Selling, general and administrative expenses 5,808   2,096   1,683   7,359   16,946 Restructuring costs and other 767   279   149   2,232   3,427 Operating income (loss)$2,273  $7,043  $(852) $(9,355) $(891)(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $0.8 million for the three months ended June 30, 2026. Storage and
Terminal
Solutions Utility and
Power
Infrastructure Process and
Industrial
Facilities Corporate Total Three Months Ended June 30, 2025Total revenue (1)$96,091  $73,027  $47,259  $—  $216,377 Cost of revenue (97,136)  (66,365)  (44,475)  (279)  (208,255)Gross profit (loss) (1,045)  6,662   2,784   (279)  8,122 Selling, general and administrative expenses 6,058   2,290   2,708   6,525   17,581 Restructuring costs and other 323   594   138   2,393   3,448 Operating income (loss)$(7,426) $3,778  $(62) $(9,197) $(12,907)(1) Total revenues are net of inter-segment revenues which are primarily Process and Industrial Facilities and were $0.2 million for the three months ended June 30, 2025.           Storage and
Terminal
Solutions Utility and
Power
Infrastructure Process and
Industrial
Facilities Corporate Total Fiscal Year Ended June 30, 2026Total revenue (1)$458,296  $283,390  $131,946  $—  $873,632 Cost of revenue (430,425)  (251,798)  (127,431)  (26)  (809,680)Gross profit 27,871   31,592   4,515   (26)  63,952 Selling, general and administrative expenses 22,091   9,389   6,066   26,061   63,607 Restructuring costs and other 2,649   1,855   1,019   4,440   9,963 Operating income (loss)$3,131  $20,348  $(2,570) $(30,527) $(9,618)(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $3.1 million for the year ended June 30, 2026. Storage and
Terminal
Solutions Utility and
Power
Infrastructure Process and
Industrial
Facilities Corporate Total Fiscal Year Ended June 30, 2025Total revenue (1)$365,891  $248,691  $154,704  $—  $769,286 Cost of revenue (351,236)  (231,776)  (145,794)  (803)  (729,609)Gross profit (loss) 14,655   16,915   8,910   (803)  39,677 Selling, general and administrative expenses 23,538   12,363   8,293   26,979   71,173 Restructuring costs and other 323   718   138   2,393   3,572 Operating income (loss)$(9,206) $3,834  $479  $(30,175) $(35,068)(1) Total revenues are net of inter-segment revenues which are primarily Process and Industrial Facilities and were $2.1 million for the year ended June 30, 2025.  Backlog

Matrix defines backlog as the total dollar amount of revenue that the Company expects to recognize as a result of performing work that has been awarded to the Company through a signed contract, limited notice to proceed or other type of assurance that the Company considers firm.  The following arrangements are considered firm:

fixed-price awards;minimum customer commitments on cost plus arrangements; andcertain time and material arrangements in which the estimated value is firm or can be estimated with a reasonable amount of certainty in both timing and amounts. For long-term maintenance contracts with no minimum commitments and other established customer agreements, the Company includes only the amounts that it expects to recognize as revenue over the next 12 months. For arrangements in which it has received a limited notice to proceed, the Company includes the entire scope of work in its backlog if it concludes that the likelihood of the full project proceeding has a high probability. For all other arrangements, Matrix calculates backlog as the estimated contract amount less revenue recognized as of the reporting date.

Three Months Ended June 30, 2026

 Storage and Terminal
Solutions Utility and Power
Infrastructure Process and
Industrial Facilities Total (In thousands)Backlog as of March 31, 2026$747,322  $189,447  $91,898  $1,028,667 Project awards 31,201   29,805   108,036   169,042 Revenue recognized (137,364)  (73,520)  (33,647)  (244,531)Backlog as of June 30, 2026$641,159  $145,732  $166,287  $953,178 Book-to-Bill Ratio (1)0.2x
  0.4x
  3.2x
  0.7x
          (1) Calculated by dividing project awards by revenue recognized.

Fiscal Year Ended June 30, 2026

 Storage and Terminal
Solutions Utility and Power
Infrastructure Process and
Industrial Facilities Total (In thousands)Backlog as of June 30, 2025$770,095  $346,384  $265,629  $1,382,108 Project awards 329,360   126,977   185,324   641,661 Other adjustment (2) —   (44,239)  (152,720)  (196,959)Revenue recognized (458,296)  (283,390)  (131,946)  (873,632)Backlog as of June 30, 2026$641,159  $145,732  $166,287  $953,178 Book-to-Bill Ratio (1)0.7x
  0.4x
  1.4x
  0.7x
          (1) Calculated by dividing project awards by revenue recognized.

(2) Previous project awards removed from backlog.

Non-GAAP Financial Measures

Adjusted Net Income (Loss)

Matrix has presented Adjusted net income (loss), which the Company defines as Net income (loss) before Restructuring costs and other expenses, and the tax impact of this adjustment, because the Company believes it better depicts its core operating results.  The Company believes that the line item on our Consolidated Statements of Income entitled “Net income (loss)” is the most directly comparable GAAP measure to Adjusted net income (loss). Since Adjusted net income (loss) is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, Net income (loss) as an indicator of operating performance. Adjusted net income (loss), as Matrix calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure is not a measure of our ability to fund the Company's cash needs. As Adjusted net income (loss) excludes certain financial information compared with Net income (loss), the most directly comparable GAAP financial measure, users of this financial information should consider the type of events and transactions that are excluded. The Company's non-GAAP performance measure, Adjusted net income (loss), has certain material limitations as follows:

It does not include restructuring costs and other expenses. Restructuring costs represent material costs that were incurred and are oftentimes cash expenses.  Therefore, any measure that excludes restructuring costs has material limitations. A reconciliation of Net income (loss) to Adjusted net income (loss) follows:

Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss)
(In thousands, except per share data)
  Three Months Ended Fiscal Years Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Net income (loss), as reported$1,142 $(11,272) $(2,580) $(29,462)Restructuring costs and other 3,427  3,448   9,963   3,572 Tax impact of adjustments and other net tax items (1) —  —   —   — Adjusted net income (loss)$4,569 $(7,824) $7,383  $(25,890)        Income (loss) per fully diluted share, as reported$0.04 $(0.40) $(0.09) $(1.06)Adjusted income (loss) per fully diluted share$0.16 $(0.28) $0.26  $(0.93)                (1)Represents the tax impact of the adjustments to Net loss, calculated using the applicable effective tax rate of the adjustment. Due to the existence of valuation allowances on our deferred tax assets and net operating losses, there was no tax impact of any of the adjustments in any period presented.   Adjusted EBITDA

Matrix has presented Adjusted EBITDA, which the Company defines as net loss before gain on sale of assets, stock-based compensation, interest expense, interest income, income taxes, and depreciation and amortization, because it is used by the financial community as a method of measuring the Company's performance and of evaluating the market value of companies considered to be in similar businesses. Matrix believes that the line item on our Consolidated Statements of Income entitled “Net loss” is the most directly comparable GAAP measure to Adjusted EBITDA. Since Adjusted EBITDA is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, net earnings as an indicator of operating performance. Adjusted EBITDA, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure is not a measure of our ability to fund the Company's cash needs. As Adjusted EBITDA excludes certain financial information compared with net loss, the most directly comparable GAAP financial measure, users of this financial information should consider the type of events and transactions that are excluded. Our non-GAAP performance measure, Adjusted EBITDA, has certain material limitations as follows:

It does not include interest expense. Because the Company may borrow money to finance our operations and to acquire businesses, has paid commitment fees to maintain the Company's senior secured revolving credit facility, and has incurred fees to issue letters of credit under the senior secured revolving credit facility, interest expense is a necessary and ongoing part of the Company's costs and has assisted the Company in generating revenue. Therefore, any measure that excludes interest expense has material limitations.It does not include interest income. Because the Company has cash invested in certain investment accounts and has earned interest income on these investments, any measure that excludes interest income has material limitations.It does not include income taxes. Because the payment of income taxes is a necessary and ongoing part of the Company's operations, any measure that excludes income taxes has material limitations.It does not include depreciation or amortization expense. Because Matrix uses capital and intangible assets to generate revenue, depreciation and amortization expense is a necessary element of the Company's cost structure. Therefore, any measure that excludes depreciation or amortization expense has material limitations.It does not include restructuring costs. Restructuring costs represent material costs that were incurred and are oftentimes cash expenses.  Therefore, any measure that excludes restructuring costs has material limitations.It does not include equity-settled stock-based compensation expense. Stock-based compensation represents material amounts of equity that are awarded to the Company's employees and directors for services rendered. While the expense is non-cash, the Company has historically released vested shares out of treasury stock, which has been replenished by using cash to periodically repurchase our stock. Therefore, any measure that excludes stock-based compensation has material limitations. A reconciliation of Net loss to Adjusted EBITDA follows:

Reconciliation of Net Loss to Adjusted EBITDA
(In thousands)
  Three Months Ended Fiscal Years Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Net income (loss)$                   1,142  $               (11,272) $                 (2,580) $               (29,462)Interest expense                         107                           150                           437                           518 Interest income                    (2,182)                     (1,984)                     (7,717)                     (6,652)Provision for federal, state and foreign income taxes                           89                           448                           356                           464 Depreciation and amortization                      1,936                        2,474                        8,640                      10,012 Restructuring costs and other(2)                      3,512                        3,217                        9,748                        3,341 Stock-based compensation(1)                      1,669                        2,150                        7,145                        8,904 Adjusted EBITDA$                   6,273  $                 (4,817) $                 16,029  $               (12,875) (1) Represents only the equity-settled portion of our stock-based compensation expense.

(2) Restructuring costs excludes equity-settled stock-based compensation expense incurred in conjunction with employee terminations.

BlackRock Inc. bought a new stake in Matrix Service Company (NASDAQ:MTRX – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 2,139,456 shares of the company’s stock, valued at approximately $29,311,000. BlackRock Inc. owned about 7.60% of Matrix Service at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Matrix Service during the 3rd quarter worth $28,000. BNP Paribas Financial Markets grew its position in shares of Matrix Service by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after purchasing an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Matrix Service during the 3rd quarter worth about $67,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Matrix Service during the 2nd quarter worth about $101,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Down 1.0% Shares of MTRX opened at $10.70 on Wednesday. The company has a 50-day moving average price of $12.06 and a two-hundred day moving average price of $12.10. The stock has a market cap of $300.99 million, a price-to-earnings ratio of -20.19, a P/E/G ratio of 0.86 and a beta of 0.98. Matrix Service Company has a 12 month low of $9.88 and a 12 month high of $15.97.

Analyst Ratings Changes Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50. Get Our Latest Research Report on Matrix Service

(Free Report)

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.

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Posted by Defense World Staff on Aug 13th, 2026

Azarias Capital Management L.P. lessened its stake in shares of Matrix Service Company (NASDAQ:MTRX – Free Report) by 17.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 673,692 shares of the company’s stock after selling 143,329 shares during the quarter. Matrix Service comprises about 4.0% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 4th biggest position. Azarias Capital Management L.P. owned about 2.39% of Matrix Service worth $9,230,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MTRX. Westerly Capital Management LLC increased its position in Matrix Service by 34.1% during the 3rd quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $14,388,000 after purchasing an additional 280,000 shares in the last quarter. AQR Capital Management LLC raised its stake in Matrix Service by 601.5% in the 1st quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock valued at $3,627,000 after purchasing an additional 250,206 shares during the last quarter. CenterBook Partners LP lifted its holdings in Matrix Service by 55.5% in the 4th quarter. CenterBook Partners LP now owns 634,046 shares of the company’s stock valued at $7,418,000 after purchasing an additional 226,325 shares in the last quarter. Millennium Management LLC lifted its holdings in Matrix Service by 46.5% in the 3rd quarter. Millennium Management LLC now owns 630,396 shares of the company’s stock valued at $8,246,000 after purchasing an additional 200,189 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Matrix Service by 482.6% during the 4th quarter. GSA Capital Partners LLP now owns 212,213 shares of the company’s stock worth $2,483,000 after purchasing an additional 175,788 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Matrix Service Price Performance MTRX stock opened at $11.74 on Thursday. The stock has a market capitalization of $330.29 million, a price-to-earnings ratio of -22.15, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. Matrix Service Company has a 52-week low of $9.88 and a 52-week high of $15.97. The stock’s fifty day simple moving average is $12.76 and its 200-day simple moving average is $12.29.

Wall Street Analyst Weigh In Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

View Our Latest Stock Analysis on MTRX

Matrix Service Profile (Free Report)

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.

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April 21, 2026 17:27 ET  | Source: Matrix Service Company

TULSA, Okla., April 21, 2026 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release third quarter Fiscal 2026 results after market on Wednesday, May 6, 2026.

On Thursday, May 7, 2026, at 10:30 a.m. Eastern time/9:30 a.m. Central time, Matrix Service Company will host a conference call to present and discuss the Company’s financial results and forward outlook.

Earnings Conference Call instructions

Investors and other interested parties can access a live audio-visual webcast using this webcasts link, or through the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The conference call will be recorded and will be available for replay within one hour of completion of the live call and can be accessed following the same link as the live call.

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX) is a leading specialty engineering and construction company whose commitment to safety, quality, and integrity has earned the Company a leadership position in providing infrastructure solutions across multiple end markets. Our work is foundational to helping our energy and industrial clients achieve their objectives, positively impact quality of life through the products they provide and improve the efficiency and resilience of their critical infrastructure. We pride ourselves on our commitment to our culture and core values, offering an inclusive and respectful work environment, and being certified as a Great Place To Work®.

The Company is headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia, and Seoul, South Korea. The Company reports its financial results in three key operating segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities.

To learn more about Matrix Service Company, visit matrixservicecompany.com

For more information about Matrix, please contact:

Investor Relations, Matrix Service Company
T: 918-838-8822
Email: [email protected]

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

TULSA, Okla., May 06, 2026 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, today announced financial results for the third quarter of fiscal 2026 ended March 31, 2026.

THIRD QUARTER FISCAL 2026 HIGHLIGHTS

Revenue of $206.7 millionNet income of $0.8 million, or $0.03 per diluted shareAdjusted net income(1) of $3.8 million, or $0.13 per diluted shareAdjusted EBITDA(1) of $4.9 millionLiquidity at March 31, 2026 of $297.2 million with no outstanding debtTotal backlog of $1.0 billion, with awards of $108.3 millionUpdates fiscal 2026 revenue guidance in a range of between $870 million and $890 million
(1) Adjusted net income and adjusted net income per diluted share are non-GAAP financial measures which exclude restructuring expense, Adjusted EBITDA is a non-GAAP financial measure which excludes interest expense, interest income, income taxes, depreciation and amortization expense, restructuring expense, and stock-based compensation. See the Non-GAAP Financial Measures section included at the end of this release for a reconciliation to net income and net income per share.

MANAGEMENT COMMENTARY

"During the fiscal third quarter, our team demonstrated strong project execution and operational focus, culminating in a return to profitability," said John Hewitt, President and Chief Executive Officer.

“Although our third quarter revenue was affected by client-related engineering and permitting delays, as well as severe weather, our strong project execution and improved cost structure enabled us to achieve adjusted diluted earnings per share of $0.13.

“While the pace of new awards was subdued during the third quarter, among the awards are an increasing number that are related to high-demand verticals including more than $30 million in increased electrical infrastructure and grid-related investments being driven in part by data center demand. Subsequent to the close of the quarter, we also received a limited notice to proceed for a major mining project on the west coast, which will begin in Q4 of this fiscal year and support revenue throughout fiscal 2027.

“Overall bidding activity remained steady, and our project opportunity pipeline remains healthy at more than $6.9 billion, reflecting multi-year opportunities across our core LNG markets, mining and minerals, power generation, and data center–related infrastructure.

“Due to the combined impact of client and weather-related delays on booked work in the third quarter, we have elected to lower our full-year fiscal 2026 revenue guidance. These project activities will move into later periods. Our return to profitability marks an important inflection point as we remain focused on continuous improvement.

"Under the leadership and organizational vision of incoming President and CEO Shawn Payne, the business is undertaking further streamlining to assure it is well positioned to build on its strong legacy and deliver sustainable profitable growth and long-term value creation.”

FISCAL 2026 THIRD QUARTER CONSOLIDATED RESULTS

Fiscal 2026 third quarter revenue was $206.7 million, compared to $200.2 million in the third quarter of fiscal 2025. The increase in revenue for the quarter was attributable to higher revenue in the Storage and Terminal Solutions segment, partially offset by lower revenue in the Processing and Industrial Facilities segment and the impact of client-related delays and severe weather events in the quarter.

Gross profit was $17.2 million, or 8.3% of revenue, in the third quarter of fiscal 2026 compared to $12.9 million, or 6.4% of revenue, for the third quarter of fiscal 2025. The increase in gross margin was due to higher gross margins in the Storage and Terminal Solutions and Utility and Power Infrastructure segments, partially offset by lower gross margins in the Process and Industrial Facility segment.

SG&A expenses were $15.2 million in the third quarter of fiscal 2026, compared to $17.7 million for the third quarter of fiscal 2025. The decrease in SG&A expenses primarily reflects the reduction of costs associated with the Company's organizational realignment initiatives over the last 12 months. Additionally, stock compensation expense decreased by $1.0 million primarily as a result of executive separations during the period.

During the quarter, the Company incurred $3.0 million of restructuring costs and other expenses associated with the previously announced CEO leadership transition and a lease impairment.

For the third quarter of fiscal 2026, the Company had net income of $0.8 million, or $0.03 per share, compared to a net loss of $3.4 million, or $(0.12) per share, in the third quarter of fiscal 2025. Adjusted net income for the third quarter of fiscal 2026 was $3.8 million, or $0.13 per share, compared to adjusted net loss of $3.3 million, or $(0.12) per share in the third quarter of fiscal 2025. Adjusted EBITDA for the third quarter of fiscal 2026 was $4.9 million compared to $0.01 million for the third quarter of fiscal 2025.

FISCAL 2026 THIRD QUARTER SEGMENT RESULTS

Storage and Terminal Solutions segment revenue increased 16% to $111.6 million in the third quarter of fiscal 2026 compared to $96.1 million in the third quarter of fiscal 2025, due to higher LNG project activity. Gross margin was 7.0% in the third quarter of fiscal 2026, compared to 3.9% in the third quarter of fiscal 2025. Segment gross margin was driven by increased project activity, as well as improved project execution and fixed cost absorption.

Utility and Power Infrastructure segment revenue increased 2% to $60.0 million in the third quarter of fiscal 2026 compared to $58.7 million in the third quarter of fiscal 2025. Gross margin was 13.6% in the third quarter of fiscal 2026, compared to 9.4% for the third quarter of fiscal 2025, an increase of 4.2% due to improved project execution throughout the segment.

Process and Industrial Facilities segment revenue decreased to $35.1 million in the third quarter of fiscal 2026 compared to $45.4 million in the third quarter of fiscal 2025, primarily due to lower revenue volumes for thermal vacuum chambers, refinery work, and industrial facilities. Gross margin was 2.5% in the third quarter of fiscal 2026, compared to 8.3% for the third quarter of fiscal 2025, a decrease of 5.8%, primarily due to a mix of work and the settlement of a legacy legal matter.

BACKLOG

The Company’s backlog was $1.0 billion as of March 31, 2026. Project awards totaled $108.3 million in the third quarter of fiscal 2026, resulting in a book-to-bill ratio of 0.5x for the quarter. Project awards during the third quarter for fiscal 2026 were driven primarily by activity in the Utility and Power Infrastructure segment, which produced a book-to-bill ratio of 0.8x.

The table below summarizes our awards, book-to-bill ratios and backlog by segment for our third quarter ended March 31, 2026 (amounts are in thousands, except for book-to-bill ratios):

  Three Months Ended
 Backlog as of
  March 31, 2026
 Segment: Awards
 Book-to-Bill(1)
 March 31, 2026
Storage and Terminal Solutions $37,535  0.3x $747,322 Utility and Power Infrastructure  46,633  0.8x  189,447 Process and Industrial Facilities  24,135  0.7x  91,898 Total $108,303  0.5x $1,028,667 ____________________
(1) Calculated by dividing project awards by revenue recognized during the period.

BALANCE SHEET & LIQUIDITY

As of March 31, 2026, Matrix had total liquidity of $297.2 million. Liquidity is comprised of $233.0 million of unrestricted cash and cash equivalents and $64.2 million of borrowing availability under the credit facility. The Company also has $25.0 million of restricted cash to support the credit facility. As of March 31, 2026, the Company had no outstanding debt.

FISCAL YEAR 2026 FINANCIAL GUIDANCE

The following forward-looking guidance reflects the Company’s current expectations and beliefs as of May 6, 2026. Various factors outside of the Company's control may impact the Company's revenue and business. These include the timing of project awards and starts which may be impacted by market fundamentals, client decision-making, permitting, and federal trade and environmental policy uncertainty. The following statements apply only as of the date of this disclosure and are expressly qualified in their entirety by the cautionary statements included elsewhere in this document.

Today, Matrix provided an update to its fiscal year 2026 revenue guidance, representing a 2% decrease at the mid-point:

  Fiscal Year 2025 Fiscal Year 2026 Fiscal Year 2026    Actual Previous Guidance Current Guidance % IncreaseRevenue $769.3 million $875 - $925 million $870 - $890 million 13% - 16%
CONFERENCE CALL DETAILS

In conjunction with the earnings release, Matrix Service Company will host a conference call with John R. Hewitt, President and CEO, Shawn P. Payne, COO and incoming President and CEO, and Kevin S. Cavanah, Vice President and CFO. The call will take place at 10:30 a.m. (Eastern) / 9:30 a.m. (Central) on Thursday, May 7, 2026.

Investors and other interested parties can access a live audio-visual webcast using this webcast link, or through the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations.

If you would like to dial in to the conference call, please register at least 10 minutes prior to the start time. Upon registration, participants will receive a dial-in number and unique PIN to join the call as well as an e-mail confirmation with the details.

For those unable to participate in the conference call, a replay of the webcast will be available on the Investor Relations page of the Company's website.

The conference call will be recorded and will be available for replay within one hour of completion of the live call and can be accessed following the same link as the live call.

ABOUT MATRIX SERVICE COMPANY

Matrix Service Company (Nasdaq: MTRX) is a leading specialty engineering and construction company whose commitment to safety, quality, and integrity has earned the Company a leadership position in providing infrastructure solutions across multiple end markets. Our work is foundational to helping our energy and industrial clients achieve their objectives, positively impact quality of life through the products they provide and improve the efficiency and resilience of their critical infrastructure. We pride ourselves on our commitment to our culture and core values, offering an inclusive and respectful work environment, and being certified as a Great Place To Work®.

The Company is headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia, and Seoul, South Korea. The Company reports its financial results in three key operating segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities.

To learn more about Matrix Service Company, visit matrixservicecompany.com.

FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance, financial guidance, sustained profitable growth and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including the successful implementation of the Company's business improvement plan and the factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release, except as required by law.

Investors should note that the Company announces material financial information in SEC filings, press releases, presentations and public conference calls. Based on guidance from the SEC, the Company may use the Investors section of its website (www.matrixservicecompany.com) to communicate with investors, and the Company intends to post presentations there, among other things. It is possible that the financial and other information posted there could be deemed to be material information. The information on the Company’s website is not part of, and is not incorporated into, this release.

INVESTOR RELATIONS CONTACT

Patrick Roberts
Director, Corporate Development and Investor Relations
T: 918-359-8249
Email: [email protected]

Matrix Service Company
Consolidated Statements of Income(In thousands, except per share data)

  Three Months Ended Nine Months Ended  March 31,
2026 March 31,
2025 March 31,
2026 March 31,
2025Revenue $206,709  $200,161  $629,101  $552,909 Cost of revenue  189,556   187,311   584,631   521,354 Gross profit  17,153   12,850   44,470   31,555 Selling, general and administrative expenses  15,215   17,726   46,661   53,592 Restructuring costs and other  2,986   124   6,536   124 Operating loss  (1,048)  (5,000)  (8,727)  (22,161)Other income (expense):        Interest expense  (85)  (134)  (330)  (368)Interest income  2,190   1,518   5,535   4,668 Other  (187)  182   67   (313)Income (loss) before income tax expense  870   (3,434)  (3,455)  (18,174)Provision for federal, state and foreign income taxes  35   —   267   16 Net income (loss) $835  $(3,434) $(3,722) $(18,190)Basic income (loss) per common share $0.03  $(0.12) $(0.13) $(0.66)Diluted income (loss) per common share $0.03  $(0.12) $(0.13) $(0.66)Weighted average common shares outstanding:        Basic  28,380   27,836   28,262   27,731 Diluted  28,533   27,836   28,262   27,731  Matrix Service Company
Consolidated Balance Sheets(In thousands)

  March 31,
2026
 June 30,
2025
Assets      Current assets:      Cash and cash equivalents $233,021  $224,641 Accounts receivable, net of allowance for credit losses  139,042   154,994 Costs and estimated earnings in excess of billings on uncompleted contracts  24,917   29,764 Inventories  6,009   5,917 Income taxes receivable  —   110 Prepaid expenses and other current assets  7,917   4,347 Assets held for sale  1,128   — Total current assets  412,034   419,773 Restricted cash  25,000   25,000 Property, plant and equipment, net  37,255   42,097 Operating lease right-of-use assets  14,030   17,827 Goodwill  28,932   29,047 Other intangible assets, net of accumulated amortization  12   555 Other assets, non-current  99,287   65,957 Total assets $616,550  $600,256  Matrix Service Company
Consolidated Balance Sheets (continued)(In thousands, except share data)

  March 31,
2026 June 30,
2025Liabilities and stockholders’ equity    Current liabilities:    Accounts payable $90,140  $80,453 Billings on uncompleted contracts in excess of costs and estimated earnings  340,704   323,593 Accrued wages and benefits  16,266   18,961 Accrued insurance  4,378   5,310 Operating lease liabilities  4,584   4,441 Other accrued expenses  4,125   3,617 Total current liabilities  460,197   436,375 Deferred income taxes  150   25 Operating lease liabilities  14,110   16,986 Other liabilities, non-current  2,673   4,154 Total liabilities  477,130   457,540 Commitments and contingencies    Stockholders’ equity:    Common stock — $0.01 par value; 60,000,000 shares authorized; 28,128,405 shares issued and outstanding at March 31, 2026; 27,888,217 shares issued and 27,610,486 shares outstanding as of June 30, 2025, respectively;  281   279 Additional paid-in capital  148,756   149,969 Retained earnings  757   4,479 Accumulated other comprehensive loss  (10,374)  (9,403)Treasury stock, at cost — 0 shares as of March 31, 2026 and 277,731 shares as of June 30, 2025;  —   (2,608)Total stockholders' equity  139,420   142,716 Total liabilities and stockholders’ equity $616,550  $600,256  Matrix Service Company
Condensed Consolidated Statements of Cash Flows(In thousands)  Three Months Ended Nine Months Ended  March 31,
2026 March 31,
2025 March 31,
2026 March 31,
2025         Operating activities:        Net income (loss) $835  $(3,434) $(3,722) $(18,190)Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:        Depreciation and amortization  2,011   2,513   6,704   7,538 Stock-based compensation expense  1,413   2,186   5,476   6,754 Operating lease impairment due to restructuring  886   —   2,415   — Gain on disposal of property, plant and equipment  (130)  (58)  (457)  (122)Other  (103)  127   236   108 Changes in operating assets and liabilities increasing (decreasing) cash:        Accounts receivable, net of allowance for credit losses  60,918   (69,872)  (16,042)  (88,802)Costs and estimated earnings in excess of billings on uncompleted contracts  366   (3,856)  4,847   (4,674)Inventories  853   768   (92)  2,450 Other assets and liabilities  2,575   1,843   (5,311)  (5,120)Accounts payable  1,510   (1,519)  9,152   12,955 Billings on uncompleted contracts in excess of costs and estimated earnings  (42,193)  95,120   17,111   161,349 Accrued expenses  5,221   7,429   (4,600)  2,517 Net cash provided by operating activities  34,162   31,247   15,717   76,763 Investing activities:        Capital expenditures  (917)  (2,566)  (4,104)  (5,425)Proceeds from sale of property, plant and equipment  999   74   1,483   237 Net cash provided (used) by investing activities  82   (2,492)  (2,621)  (5,188)Financing activities:        Payment of debt amendment fees  —   —   (149)  — Proceeds from issuance of common stock under employee stock purchase plan  46   47   144   149 Payments related to tax withholding for stock-based compensation  —   —   (4,223)  (1,235)Net cash provided (used) by financing activities  46   47   (4,228)  (1,086)Effect of exchange rate changes on cash  (233)  (38)  (488)  (563)Net increase in cash and cash equivalents  34,057   28,764   8,380   69,926 Cash, cash equivalents and restricted cash, beginning of period  223,964   181,777   249,641   140,615 Cash, cash equivalents and restricted cash, end of period $258,021  $210,541  $258,021  $210,541 Supplemental disclosure of cash flow information:        Cash paid during the period for:        Income taxes $60  $21  $94  $39 Interest $80  $84  $300  $316  Matrix Service Company
Results of Operations(In thousands)  Storage and Terminal Solutions Utility and Power Infrastructure Process and Industrial Facilities Corporate Total  Three Months Ended March 31, 2026Total revenues(1) $111,621  $59,963  $35,125  $—  $206,709 Cost of revenue  (103,849)  (51,801)  (34,238)  332   (189,556)Gross profit (loss)  7,772   8,162   887   332   17,153 Selling, general and administrative expenses  5,312   2,074   1,503   6,326   15,215 Restructuring costs and other  4   902   94   1,986   2,986 Operating income (loss) $2,456  $5,186  $(710) $(7,980) $(1,048)(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $1.4 million for the three months ended March 31, 2026.  Storage and Terminal Solutions Utility and Power Infrastructure Process and Industrial Facilities Corporate Total  Three Months Ended March 31, 2025Total revenue(1) $96,054  $58,676  $45,431  $—  $200,161 Cost of revenue  (92,323)  (53,139)  (41,672)  (177)  (187,311)Gross profit (loss)  3,731   5,537   3,759   (177)  12,850 Selling, general and administrative expenses  6,344   2,536   2,142   6,704   17,726 Restructuring costs and other  —   124   —   —   124 Operating income (loss) $(2,613) $2,877  $1,617  $(6,881) $(5,000)(1) Total revenues are net of inter-segment revenues which are primarily Process and Industrial Facilities and were $1.1 million for the three months ended March 31, 2025.  Storage and Terminal Solutions Utility and Power Infrastructure Process and Industrial Facilities Corporate Total  Nine Months Ended March 31, 2026Total revenue(1) $320,932  $209,870  $98,299  $—  $629,101 Cost of revenue  (301,909)  (187,696)  (94,764)  (262)  (584,631)Gross profit (loss)  19,023   22,174   3,535   (262)  44,470 Selling, general and administrative expenses  16,283   7,293   4,383   18,702   46,661 Restructuring costs and other  1,882   1,576   870   2,208   6,536 Operating income (loss) $858  $13,305  $(1,718) $(21,172) $(8,727)(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $3.0 million for the nine months ended March 31, 2026.  Storage and Terminal Solutions Utility and Power Infrastructure Process and Industrial Facilities Corporate Total  Nine Months Ended March 31, 2025Total revenue(1) $269,800  $175,664  $107,445  $—  $552,909 Cost of revenue  (254,100)  (165,411)  (101,319)  (524)  (521,354)Gross profit (loss)  15,700   10,253   6,126   (524)  31,555 Selling, general and administrative expenses  17,480   10,073   5,585   20,454   53,592 Restructuring costs and other  —   124   —   —   124 Operating income (loss) $(1,780) $56  $541  $(20,978) $(22,161)(1) Total revenues are net of inter-segment revenues which are primarily Process and Industrial Facilities and were $2.8 million for the nine months ended March 31, 2025.
Backlog

We define backlog as the total dollar amount of revenue that we expect to recognize as a result of performing work that has been awarded to us through a signed contract, limited notice to proceed or other type of assurance that we consider firm. The following arrangements are considered firm:

fixed-price awards;minimum customer commitments on cost plus arrangements; andcertain time and material arrangements in which the estimated value is firm or can be estimated with a reasonable amount of certainty in both timing and amounts. For long-term maintenance contracts with no minimum commitments and other established customer agreements, we include only the amounts that we expect to recognize as revenue over the next 12 months. For arrangements in which we have received a limited notice to proceed, we include the entire scope of work in our backlog if we conclude that the likelihood of the full project proceeding as high. For all other arrangements, we calculate backlog as the estimated contract amount less revenue recognized as of the reporting date.

Three Months Ended March 31, 2026

  Storage and Terminal Solutions Utility and Power Infrastructure Process and Industrial Facilities Total  (In thousands)Backlog as of December 31, 2025 $821,408  $202,777  $102,888  $1,127,073 Project awards  37,535   46,633   24,135   108,303 Revenue recognized  (111,621)  (59,963)  (35,125)  (206,709)Backlog as of March 31, 2026 $747,322  $189,447  $91,898  $1,028,667 Book-to-Bill Ratio(1)  0.3x  0.8x  0.7x  0.5x
(1) Calculated by dividing project awards by revenue recognized.
Nine Months Ended March 31, 2026

  Storage and Terminal
Solutions Utility and Power Infrastructure Process and Industrial Facilities Total  (In thousands)Backlog as of June 30, 2025 $770,095  $346,384  $265,629  $1,382,108 Project awards  298,159   97,172   77,288   472,619 Other adjustment(2)  —   (44,239)  (152,720)  (196,959)Revenue recognized  (320,932)  (209,870)  (98,299)  (629,101)Backlog as of March 31, 2026 $747,322  $189,447  $91,898  $1,028,667 Book-to-Bill Ratio  0.9x  0.5x  0.8x  0.8x
(1) Calculated by dividing project awards by revenue recognized.
(2) Previous project awards removed from backlog.
Non-GAAP Financial Measures

Adjusted Net Income (Loss)

We have presented Adjusted net income (loss), which we define as Net income (loss) before Restructuring costs and other expenses, and the tax impact of this adjustment, because we believe it better depicts our core operating results. We believe that the line item on our Consolidated Statements of Income entitled “Net income (loss)” is the most directly comparable GAAP measure to Adjusted net income (loss). Since Adjusted net income (loss) is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, Net income (loss) as an indicator of operating performance. Adjusted net income (loss), as we calculate it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure is not a measure of our ability to fund our cash needs. As Adjusted net income (loss) excludes certain financial information compared with Net income (loss), the most directly comparable GAAP financial measure, users of this financial information should consider the type of events and transactions that are excluded. Our non-GAAP performance measure, Adjusted net income (loss), has certain material limitations as follows:

It does not include restructuring costs and other expenses. Restructuring costs represent material costs that were incurred and are oftentimes cash expenses. Therefore, any measure that excludes restructuring costs has material limitations. A reconciliation of Net income (loss) to Adjusted net income (loss) follows:

Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss)
(In thousands, except per share data)  Three Months Ended Nine Months Ended  March 31, 2026
 March 31, 2025 March 31, 2026 March 31, 2025Net income (loss), as reported $835  $(3,434) $(3,722) $(18,190)Restructuring costs and other  2,986   124   6,536   124 Tax impact of adjustments and other net tax items(1)  —   —   —   — Adjusted net income (loss) $3,821  $(3,310) $2,814  $(18,066)          Income (loss) per fully diluted share, as reported $0.03  $(0.12) $(0.13) $(0.66)Adjusted income (loss) per fully diluted share $0.13  $(0.12) $0.10  $(0.65)____________________
(1) Represents the tax impact of the adjustments to Net loss, calculated using the applicable effective tax rate of the adjustment. Due to the existence of valuation allowances on our deferred tax assets and net operating losses, there was no tax impact of any of the adjustments in any period presented.

Adjusted EBITDA

We have presented Adjusted EBITDA, which we define as net loss before gain on sale of assets, stock-based compensation, interest expense, interest income, income taxes, and depreciation and amortization, because it is used by the financial community as a method of measuring our performance and of evaluating the market value of companies considered to be in similar businesses. We believe that the line item on our Consolidated Statements of Income entitled “Net loss” is the most directly comparable GAAP measure to Adjusted EBITDA. Since Adjusted EBITDA is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, net earnings as an indicator of operating performance. Adjusted EBITDA, as we calculate it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure is not a measure of our ability to fund our cash needs. As Adjusted EBITDA excludes certain financial information compared with net loss, the most directly comparable GAAP financial measure, users of this financial information should consider the type of events and transactions that are excluded. Our non-GAAP performance measure, Adjusted EBITDA, has certain material limitations as follows:

It does not include interest expense. Because we have borrowed money to finance our operations and to acquire businesses, pay commitment fees to maintain our senior secured revolving credit facility, and incur fees to issue letters of credit under the senior secured revolving credit facility, interest expense is a necessary and ongoing part of our costs and has assisted us in generating revenue. Therefore, any measure that excludes interest expense has material limitations.
It does not include interest income. Because we have cash invested in certain investment accounts and we will have earned interest income on these investments, any measure that excludes interest income has material limitations.
It does not include income taxes. Because the payment of income taxes is a necessary and ongoing part of our operations, any measure that excludes income taxes has material limitations.
It does not include depreciation or amortization expense. Because we use capital and intangible assets to generate revenue, depreciation and amortization expense is a necessary element of our cost structure. Therefore, any measure that excludes depreciation or amortization expense has material limitations.
It does not include restructuring costs. Restructuring costs represent material costs that were incurred and are oftentimes cash expenses. Therefore, any measure that excludes restructuring costs has material limitations.
It does not include equity-settled stock-based compensation expense. Stock-based compensation represents material amounts of equity that are awarded to our employees and directors for services rendered. While the expense is non-cash, we historically release vested shares out of our treasury stock, which has been replenished by using cash to periodically repurchase our stock. Therefore, any measure that excludes stock-based compensation has material limitations. A reconciliation of Net loss to Adjusted EBITDA follows:

Reconciliation of Net Loss to Adjusted EBITDA
(In thousands)  Three Months Ended Nine Months Ended  March 31, 2026 March 31, 2025 March 31, 2026 March 31, 2025Net income (loss) $835  $(3,434) $(3,722) $(18,190)Interest expense  85   134   330   368 Interest income  (2,190)  (1,518)  (5,535)  (4,668)Provision for federal, state and foreign income taxes  35   —   267   16 Depreciation and amortization  2,011   2,513   6,704   7,538 Restructuring costs and other(2)  2,686   124   6,236   124 Stock-based compensation(1)  1,413   2,186   5,476   6,754 Adjusted EBITDA $4,875  $5  $9,756  $(8,058)____________________
(1) Represents only the equity-settled portion of our stock-based compensation expense.
(2) Restructuring costs excludes equity-settled stock-based compensation expense incurred in conjunction with employee terminations.

Matrix Service Company (MTRX) Q3 2026 Earnings Call Transcript

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Matrix Service Company ("Matrix" or the "Company") (NASDAQ: MTRX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Matrix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On May 6, 2026, Matrix issued a press release announcing its financial results for the third quarter of its 2026 fiscal year. Among other items, Matrix reported revenue of $206.71 million, missing consensus estimates by $24.81 million. The Company also lowered its fiscal year 2026 revenue guidance to a range of $870 million to $890 million, compared to its previous guidance of $875 million to $925 million, representing a 2% decrease at the midpoint. 

On this news, Matrix's stock price fell $1.64 per share, or 11.88%, to close at $12.16 per share on May 7, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

TULSA, Okla., May 18, 2026 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that President and Chief Executive Officer John R. Hewitt, Vice President and Chief Financial Officer Kevin Cavanah, Chief Operating Officer and incoming Chief Executive Officer, Shawn P. Payne, Director of Corporate Development and Investor Relations Patrick Roberts, and Senior Director of Accounting and Treasury AJ Smith will present and host one-on-one meetings with investors at the Sidoti Virtual Micro-Cap Conference taking place on May 20-21, 2026.

The presentation will begin at 1:00 PM ET on Wednesday, May 20 and can be accessed live here. Matrix will also host virtual one-on-ones with investors on Wednesday and Thursday, May 20-21, 2026. To register for the presentation or one-on-ones, visit www.sidoti.com/events or contact Matrix Service Company at [email protected].

About Sidoti Events, LLC (“Events”) and Sidoti & Company, LLC (“Sidoti”)

In 2023, Sidoti & Company, LLC , Sidoti & Company, LLC formed an affiliate company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees.  The relationship allows Events to draw on the over 25 years of experience Sidoti has as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti’s coverage universe comprises approximately 150 equities, of which almost 70 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") and Sidoti Lighthouse Equity Research (“Lighthouse”) programs.  Events is a leading provider of corporate access through the many investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Events benefits from Sidoti’s small- and microcap-focused nationwide sales force, which has connections with over 2,500 institutional relationships in North America.  This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our most recent Sustainability Report.

For more information about Matrix, please contact:

Patrick Roberts
Matrix Service Company
Director, Corporate Development and Investor Relations
T: 918-359-8249
Email: [email protected]

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance, financial guidance, sustained profitable growth and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including the successful implementation of the Company's business improvement plan and the factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release, except as required by law.

Investors should note that the Company announces material financial information in SEC filings, press releases, presentations and public conference calls. Based on guidance from the SEC, the Company may use the Investors section of its website (www.matrixservicecompany.com) to communicate with investors, and the Company intends to post presentations there, among other things. It is possible that the financial and other information posted there could be deemed to be material information. The information on the Company’s website is not part of, and is not incorporated into, this presentation.

TULSA, Okla., May 21, 2026 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that, Chief Operating Officer and incoming Chief Executive Officer Shawn P. Payne, Vice President and Chief Financial Officer Kevin Cavanah, Director of Corporate Development and Investor Relations Patrick Roberts, and Senior Director of Accounting and Treasury A.J. Smith will be attending the Stifel Cross-Sector Insight Conference on June 2-3, 2026 in Boston, Massachusetts.

One-on-one meetings with management are available during the conference with prior notice and may be scheduled through the conference or by contacting Matrix Service Company at [email protected].

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX) is a leading specialty engineering and construction company whose commitment to safety, quality, and integrity has earned the Company a leadership position in providing infrastructure solutions across multiple end markets. Our work is foundational to helping our energy and industrial clients achieve their objectives, positively impact quality of life through the products they provide and improve the efficiency and resilience of their critical infrastructure. We pride ourselves on our commitment to our culture and core values, offering an inclusive and respectful work environment, and being certified as a Great Place To Work®.

The Company is headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia, and Seoul, South Korea. The Company reports its financial results in three key operating segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. To learn more about Matrix Service Company, visit matrixservicecompany.com.

Forward-Looking Statements
This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance, financial guidance, sustained profitable growth and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including the successful implementation of the Company's business improvement plan and the factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release, except as required by law.

Investors should note that the Company announces material financial information in SEC filings, press releases, presentations and public conference calls. Based on guidance from the SEC, the Company may use the Investors section of its website (www.matrixservicecompany.com) to communicate with investors, and the Company intends to post presentations there, among other things. It is possible that the financial and other information posted there could be deemed to be material information. The information on the Company’s website is not part of, and is not incorporated into, this release.

Investor Relations Contact

Patrick Roberts
Director, Corporate Development and Investor Relations
T: 918-359-8249
Email: [email protected]

NEW YORK, May 26, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Matrix Service Company (“Matrix” or the “Company”) (NASDAQ: MTRX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Matrix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On May 6, 2026, Matrix issued a press release announcing its financial results for the third quarter of its 2026 fiscal year. Among other items, Matrix reported revenue of $206.71 million, missing consensus estimates by $24.81 million. The Company also lowered its fiscal year 2026 revenue guidance to a range of $870 million to $890 million, compared to its previous guidance of $875 million to $925 million, representing a 2% decrease at the midpoint. 

On this news, Matrix’s stock price fell $1.64 per share, or 11.88%, to close at $12.16 per share on May 7, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

NEW YORK, June 02, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Matrix Service Company (“Matrix” or the “Company”) (NASDAQ: MTRX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Matrix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On May 6, 2026, Matrix issued a press release announcing its financial results for the third quarter of its 2026 fiscal year. Among other items, Matrix reported revenue of $206.71 million, missing consensus estimates by $24.81 million. The Company also lowered its fiscal year 2026 revenue guidance to a range of $870 million to $890 million, compared to its previous guidance of $875 million to $925 million, representing a 2% decrease at the midpoint.

On this news, Matrix’s stock price fell $1.64 per share, or 11.88%, to close at $12.16 per share on May 7, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

NEW YORK, June 09, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Matrix Service Company (“Matrix” or the “Company”) (NASDAQ: MTRX).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Matrix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On May 6, 2026, Matrix issued a press release announcing its financial results for the third quarter of its 2026 fiscal year.  Among other items, Matrix reported revenue of $206.71 million, missing consensus estimates by $24.81 million.  The Company also lowered its fiscal year 2026 revenue guidance to a range of $870 million to $890 million, compared to its previous guidance of $875 million to $925 million, representing a 2% decrease at the midpoint. 

On this news, Matrix’s stock price fell $1.64 per share, or 11.88%, to close at $12.16 per share on May 7, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980