Matrix Service Reports Q1 2027 Profitability and Revenue Growth
Matrix Service (MTRX) reported a profitable first quarter for fiscal year 2027, achieving net income of $6.2 million ($0.22 per diluted share), a significant turnaround from the previous year's net loss of $3.7 million. Total revenue rose 4% year-over-year to $219.4 million, supported by strong performance in the Storage and Terminal Solutions segment, which saw a 12% increase in revenue. The company is seeing robust demand across several sectors, including LNG, power, and mining, resulting in an expanded opportunity pipeline of $8.2 billion. While some segments like Utility and Power Infrastructure experienced volume declines due to project timing, the overall backlog stands at $872.6 million. Management also authorized a new $25 million share repurchase program to drive shareholder value.
Tickers: $MTRX
Topics: backlog expansion net income improvement revenue growth segment performance