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Dec 31, 2025
Matrix Service Q2 2026 Earnings Report
Matrix Service Company reported solid performance in the second quarter of fiscal year 2026, with increased revenue and improved profitability compared to the prior year.
Key Takeaways
Matrix Service Company announced its second quarter fiscal year 2026 results, reporting a revenue of $210.5 million, a 12% increase from the prior year. The company achieved a net loss per share of $(0.03) and adjusted EBITDA of $2.4 million, showing significant improvement from the previous year's losses. Total backlog stood at $1.1 billion, with project awards totaling $176.6 million for the quarter.
Revenue increased by 12% to $210.5 million in Q2 fiscal 2026 compared to the prior year.
Net loss per share improved significantly to $(0.03) from $(0.20) in the prior year.
Adjusted EBITDA turned positive at $2.4 million, up from $(2.2) million in the prior year.
Total backlog reached $1.1 billion, with a book-to-bill ratio of 0.8x for the quarter.
Revenue by Segment
Forward Guidance
Matrix Service Company reaffirms its full year fiscal 2026 revenue guidance, expecting it to be between $875 million and $925 million, representing a 14% - 20% increase from fiscal year 2025.
Positive Outlook
- Continued expectation of improving profitability, driven by higher volumes in the Storage and Terminal Solutions segment.
- Strong long-term demand across end markets, supported by multi-year investment cycles in energy, power, and industrial infrastructure.
- Securing strategically attractive projects that align with long-term growth priorities.
- Opportunity pipeline of $7.3 billion reflects significant infrastructure demands and client desire for experienced partners.
- Focus on core energy and industrial capabilities and investment in people, systems, and processes to strengthen execution and convert awards into profitable revenue.
Challenges Ahead
- Near-term project awards are expected to remain subdued.
- Quarterly results were impacted by $3.6 million of costs related to starting up and commissioning specialty vessel work in the Storage and Terminal Solutions segment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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