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Sep 30, 2024
Matrix Service Q1 2025 Earnings Report
Announced first quarter fiscal year 2025 results and reaffirmed full year revenue guidance.
Key Takeaways
Matrix Service Company reported a revenue of $165.6 million and a net loss per share of $(0.33) for the first quarter of fiscal year 2025. The company is maintaining its full-year fiscal 2025 revenue guidance of $900 to $950 million, supported by continued demand strength and a total backlog of $1.4 billion.
Reiterated full-year fiscal 2025 revenue guidance of $900 to $950 million.
Total backlog reached $1.4 billion.
Total project awards in the quarter amounted to $148.0 million, with a book-to-bill ratio of 0.9x.
Utility and Power Infrastructure Segment delivered more than 70% year-over-year revenue growth.
Matrix Service
Matrix Service
Forward Guidance
The Company reaffirmed revenue guidance it issued on September 9, 2024, with fiscal year 2025 revenue expected to be in the range of $900 million to $950 million.
Positive Outlook
- Storage and Terminal Solutions segment, the Company expects revenue to increase as the year progresses driven by specialty vessel and related facility projects currently in backlog.
- Utility and Power Infrastructure segment, the Company expects revenue to increase as the level of work accelerates on LNG peak shaving projects currently in backlog.
- Process and Industrial Facilities segment, the Company expects revenue to increase in the latter half of the year due to timing of turnaround work and as we begin work on projects currently in backlog.
- Maintaining full year Fiscal 2025 Revenue Guidance of $900 to $950 million
- Strong market demand and growth in our business
Challenges Ahead
- Timing of project awards and starts which may be impacted by market fundamentals
- Client decision-making
- Presidential election cycle
- Associated regulatory environment
- Lower revenues from a now completed large renewable diesel project