Matrix Service ( (MTRX) ) has released its Q2 earnings. Here is a breakdown of the information Matrix Service presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Matrix Service Company is a prominent North American industrial engineering, construction, and maintenance contractor specializing in Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. Headquartered in Tulsa, Oklahoma, the company operates across the United States, Canada, and internationally.
In its fiscal year 2025 second-quarter results, Matrix Service Company reported a revenue increase of 7% to $187.2 million, driven by growth in its Storage and Terminal Solutions and Utility and Power Infrastructure segments. Despite the revenue boost, the company faced a net loss of $5.5 million, or $0.20 per share, attributed to under-recovery of construction overhead costs and a slowdown in project awards.
Key financial highlights for the quarter included a total backlog of $1.3 billion, with project awards totaling $90.5 million. The company maintained strong liquidity of $211.7 million, with no outstanding debt, emphasizing its disciplined financial management. However, the book-to-bill ratio stood at 0.5x, reflecting a slower pace in converting project awards to revenue.
Matrix Service Company’s management remains optimistic about the future, expecting a return to profitability in the latter half of fiscal 2025. The company anticipates over 40% year-over-year revenue growth in the second half, underpinned by an expected increase in backlog conversion and improved margin realization. With a strategic focus on large, complex projects, Matrix Service is well-positioned to benefit from anticipated infrastructure investments in the coming decade.
