Earnings Releases·Nov 4, 2026, 4:55 PM ET

Matrix Service Company — Fiscal 2027 First Quarter Earnings Summary

Revenue increased to $219.4 million from $211.9 million year-over-year, while net income turned profitable at $6.2 million ($0.22/share) compared to a $3.7 million loss in the prior year period.
Adjusted EBITDA expanded to $7.7 million from $2.5 million, driven by gross margin improvement to 8.2% and a reduction in SG&A expenses to $13.3 million.
The Board approved a new $25 million share buyback program, with $2.5 million executed during the quarter, alongside a debt-free balance sheet and $221.8 million in total liquidity.
Total backlog reached $872.6 million with $138.8 million in new awards, though the quarter's total book-to-bill ratio was 0.6x; management remains focused on converting the pipeline into backlog and disciplined capital deployment.