Highest-materiality recent filing
Shawn P. Payne elected to Matrix Service Board as Director effective July 1, 2026
Shawn P. Payne, previously appointed President and CEO, elected to the Board effective July 1, 2026.
Matrix Service Q3 revenue $206.7M, net income $0.8M; updates FY 2026 revenue guidance to $870-890M
Revenue of $206.7M; net income of $0.8M ($0.03 diluted EPS).
Matrix Service CFO and CAO to depart; Cavanah gets $771K separation package
Kevin Cavanah to step down as CFO after filing of FY2026 10-K; external search underway for Houston-based successor.
Matrix Service Q2 revenue rises 12% YoY, net loss narrows to $0.03 EPS; reaffirms FY2026 guidance
Revenue $210.5M (+12% YoY); net loss of $0.9M ($0.03 EPS) vs loss $5.5M ($0.20) prior year.
Matrix Service subsidiary President Douglas Montalbano resigns effective Jan 16, 2026
Douglas J. Montalbano resigns as President of Matrix North American Construction (Matrix NAC), effective January 16, 2026.
Revenue $211.9M (+28% YoY); net loss per share $(0.13) vs $(0.33); adjusted net loss $(0.01) per share.
All eight director nominees elected with strong support (votes for range 20.66M to 21.03M).
Matrix Service Q4 net loss $(0.40)/share on $216.4M revenue; FY2026 guidance $875-925M
Net loss of $11.3M ($0.40/sh) in Q4 FY2025, widening from $4.4M loss ($0.16/sh) in Q4 FY2024; adjusted loss $0.28/sh.
Matrix Service extends credit agreement maturity to 2029, adds new guarantors
Maturity date of credit agreement extended from September 9, 2026 to September 9, 2029.
Matrix Service Q3 revenue up 21%, loss narrows; cuts fiscal year guidance 10%
Revenue $200.2M (+21% YoY); net loss per share $(0.12) vs $(0.53) prior year.
Shawn P. Payne promoted to newly created President Engineering & Construction role, effective May 5, 2025; oversees operating subsidiaries and client services.
Matrix Service posts Q2 net loss per share $(0.20); lowers FY25 revenue guidance by ~5%
Revenue $187.2M (+7% YoY); net loss $(0.20) per share vs $(0.10); adjusted loss $(0.20) vs $(0.18).
Matrix Service Q1 net loss $(0.33)/share; revenue $165.6M; reaffirms FY25 guidance $900-950M
Net loss per share $(0.33) (adjusted $(0.33)) vs $(0.12) GAAP and $(0.21) adjusted in prior year.
Matrix Service Company reports annual meeting voting results; all proposals approved
All seven director nominees elected; highest votes for John D. Chandler (21,977,752), lowest James H. Miller (20,716,565).
Q4 revenue $189.5M; net loss per share $(0.16) vs $(0.01); adjusted $(0.14) vs $(0.11).
Matrix Service Q3 revenue down 11% YoY to $166M; backlog hits record $1.45B
Net loss per share ($0.53); adjusted EBITDA negative ($9.8M) vs ($7.7M) prior year.
Matrix Service Q2 revenue $175M, backlog hits record $1.45B, liquidity $106.3M
Revenue $175.0M; backlog $1.45B (record); book-to-bill 1.3.
Matrix Service stockholders approve all proposals at 2023 annual meeting
All five director nominees elected with >15M votes for each; broker non-votes ~5.1M.
Matrix Service Q1 loss per share $0.12; awards $497M, backlog $1.4B
Revenue $197.7M, gross margin 6.0%; adjusted EBITDA loss $0.7M.
Matrix Service Q4 net loss narrows to $0.01/share; backlog rises 85% to $1.1B
Q4 revenue $205.9M (+10% vs Q3); full-year revenue $795.0M.
Matrix Service Q3 net loss $0.47/sh; revenue $186.9M up 6% YoY; backlog $832.4M
Net loss of $12.7M ($0.47/sh); adjusted loss $8.9M ($0.33/sh); adjusted EBITDA loss $7.7M.
Net loss of $32.8M, or $1.22 per share; adjusted net loss $14.4M ($0.53/sh).
Matrix Service stockholders approve officer exculpation, stock plan amendment at 2022 annual meeting
Stockholders voted to amend charter to exculpate officers from certain breach of fiduciary duty claims.
Revenue $208.4M, up 24% YoY and 4% QoQ; gross margin improved to 6.2% from 0.4% prior quarter.
Matrix Service Q4 revenue $200.7M, GAAP EPS $0.50, adjusted loss $0.52
Q4 revenue $200.7M (+13% QoQ); full-year revenue $707.8M; net income $13.5M included $32.4M gain on facility sale.
Matrix Service receives Nasdaq notice for late 10-K filing; has 60 days to submit compliance plan
Failed to file Form 10-K for FY ended June 30, 2022 by the September 28, 2022 deadline.
Matrix Service subsidiary president Brad Rinehart departs; Shawn Payne appointed as successor
Rinehart, President of Matrix Service Inc. (subsidiary), departed Aug 31, 2022 after 34 years of service.
Matrix Service completes sale of Orange CA facilities for $37.6M; records $32.8M pre-tax gain
Base sales price of $37.6M cash; net proceeds approximately $37.2M after customary adjustments.
Matrix Service enters $37.6M agreement to sell Orange CA facilities, lease back up to 24 months
Purchase and Sale Agreement for Orange CA facilities with $37.6M purchase price, closing June 22, 2022.
Matrix Service appoints retired Fluor executive Jose Bustamante to board of directors
Appointment effective May 10, 2022; board expanded from 7 to 8 members.
Matrix Service selected for construction project valued over $75M
Notified on May 11, 2022 of selection for a construction project exceeding $75 million.
Matrix Service Q3 FY22: $1.30 GAAP EPS loss, revenue $177M, backlog up 28% to $594M
Net loss $34.9M ($1.30 diluted EPS); adjusted loss $13.4M ($0.50 diluted) vs prior year adjusted loss $0.43.
Matrix Service Q2 fiscal 2022 loss $0.93/diluted share; adjusted loss $0.38; backlog $591.6M
Revenue $162.0M, down from $168.1M in Q1; gross margin 2.0%.
Matrix Service announces results of 2021 Annual Meeting; all proposals approved
All seven director nominees elected with between 18.3M and 22.0M votes for; broker non-votes ~2.04M.
Matrix Service Q1 FY2022 revenue $168.1M, loss $0.66/sh; backlog up 21% on $266.9M awards
Revenue $168.1M, down from $174.9M in Q4; GAAP loss $0.66/sh, adjusted loss $0.60.
Matrix Service Q4 revenue $174.9M, net loss $10.7M; backlog $462.6M
Q4 revenue up 18% sequentially to $174.9M; full-year revenue $673.4M.
the Board of Directors (the “Board”) of the Company has elected Shawn P. Payne as a Director of the Company effective July 1, 2026
Kevin S. Cavanah, Vice President of Finance and Chief Financial Officer, and Nancy E. Austin, Chief Administrative Officer, will step down from their respective positions on the terms substantially as described below.
Ms. Austin will step down as Vice President and Chief Administrative Officer of the Company effective as of May 7, 2026.
In connection with this and other organizational changes, effective April 30, 2025, Mr. Alan R. Updyke, Chief Operating Officer of Matrix Service Company and Mr. Glyn A. Rodgers, President of Matrix PDM Engineering, Inc., a wholly owned subsidiary of Matrix will no longer be employed with the Company.
In connection with this and other organizational changes, effective April 30, 2025, Mr. Alan R. Updyke, Chief Operating Officer of Matrix Service Company and Mr. Glyn A. Rodgers, President of Matrix PDM Engineering, Inc., a wholly owned subsidiary of Matrix will no longer be employed with the Company.
Mr. Shawn P. Payne has been promoted to the newly created position of President Engineering & Construction, Matrix Service Company, effective May 5, 2025.
In connection with Mr. Rinehart’s departure and as part of a succession planning, Matrix Service has promoted Shawn P. Payne to President – Matrix Service, effective September 1, 2022.
Effective August 31, 2022, Mr. Bradley J. Rinehart, President – Matrix Service Inc. (“Matrix Service”), a wholly-owned subsidiary of Matrix Service Company, Inc. (the "Company"), will no longer be employed by Matrix Service.
On May 10, 2022, the Board of Directors of Matrix Service Company (the “Company”), upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors, increased the size of the Board from seven to eight members and appointed Jose Luis Martin de Bustamante to serve as a member of the Board of Directors, to fill the resulting vacancy, for a term commencing on May 10, 2022
Max materiality 0.85 · Median 0.65 · Most common event earnings