Matrix Service reports Q1 adjusted EPS (1c), consensus 2c

Reports Q1 revenue $211.88M, consensus $206.66M. Reports total backlog of $1.2B. “We delivered improved first quarter results, reflecting disciplined execution across an expanding base of projects in our Storage & Terminal Solutions and Utility & Power Infrastructure segments,” said John Hewitt, President and Chief Executive Officer. “Our operational discipline is translating into improving consolidated margin performance, with direct gross margins aligned to our 10% target. We expect to recognize continued improvement as project activity accelerates.”