Matrix Service posts Q1 rev $211.9M (+28% YoY); net loss narrows to $(0.13)/share; reaffirms FY2026 guidance

MATRIX SERVICE CO

2026-Q1 EPS reported -$0.13 revenue$211,884,000

Revenue $211.9M (+28% YoY); net loss per share $(0.13) vs $(0.33); adjusted net loss $(0.01) per share.
Adjusted EBITDA $2.5M vs $(5.9)M; liquidity $248.9M with no outstanding debt.
Storage & Terminal rev +40% to $109.5M; Utility & Power rev +33% to $74.5M, gross margin 9.1% (up from 2.3%).
Backlog $1.2B; awards $187.8M (book-to-bill 0.9x); two projects ($197M) removed from backlog due to client changes.
FY2026 revenue guidance reaffirmed $875-925M (14-20% growth); management sees continued margin improvement.

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