Matrix Service returns to profitability in fiscal 2026

Matrix Service (NASDAQ: MTRX ) reported fourth-quarter financial results on Thursday.

The transcript from the company's fourth-quarter earnings call has been provided below.

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The full earnings call is available at Summary Matrix Service reported a return to profitability in fiscal 2026, with a 14% revenue growth and a 210 basis point improvement in gross margin, leading to an adjusted EPS of $0.26.

The company highlighted its strategic framework 'WIN, Execute, Deliver' aimed at sustainable profitability, operational excellence, and growth in both legacy and emerging markets.

Matrix Service completed significant projects, like the Brunswick Greensville Storage Facility, and expanded its backlog with new awards, including a project for America's first new major refinery in over 50 years.

The company's fourth-quarter revenue increased by 13%, with improvements in gross profit and margins across various segments, despite a decrease in Process and Industrial Facilities revenue.

Matrix Service ended the quarter with a strong liquidity position of $283.9 million and no debt, and is considering a stock buyback due to its financial strength.

Management acknowledged past performance issues but emphasized ongoing improvements and strategic initiatives to unlock the company's full potential.

The company is restructuring its leadership with an interim CFO as it searches for a permanent replacement, which impacts its decision to withhold future guidance until the new CFO is appointed.

Full Transcript OPERATOR (Operator) Good morning and welcome to the Matrix Service conference call to discuss the results for the fourth quarter of fiscal 2026.

Currently, all participants are in a listen-only mode.

Later we will conduct a question-and-answer session, and instructions will be given at that time.

As a reminder, this conference call is being recorded.

I would like to turn the conference over to Mr.

Patrick Roberts, Director of Corporate Development and Investor Relations for Matrix Service.

Please go ahead.

Patrick Roberts, Director of Corporate Development and Investor Relations Welcome to Matrix Service's fourth quarter fiscal 2026 earnings call.

Participants on today's call include Chief Executive Officer Sean Peng and Chief Financial Officer Kevin Kavanaugh.

Following our prepared remarks, we will open the call up for questions.

The presentation materials referred to during the webcast today can be found under Events and Presentations on the Investor Relations section of matrixservicecompany.com.

As a reminder, on today's call we may make various remarks about future expectations, plans, and prospects for Matrix Service that constitute forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995.

Actual results may differ materially from those indicated by these forward-looking statements because of various factors, including those discussed in our most recent Annual Report on Form 10-K and in subsequent filings made by the Company with the SEC.

The forward-looking statements made today are effective only as of today.

To the extent we utilize non-GAAP measures, reconciliations will be provided in various press releases, periodic SEC filings, and on our website.

Before we get started, I want to share a project highlight that also illustrates our commitment to safety and quality.

This is one of four air raises that Matrix has safely completed in the last four months, each supporting infrastructure for different fuels and feedstocks including LNG, ethane, liquid propane gas, ammonia, and butane.

An air raise is a complex process that uses air pressure to safely lift and position a large steel dome roof, the weight of which can be well over 1,000,000 pounds.

This is a pivotal step in the construction of the storage tank.

The project being highlighted here is for Dominion Energy's Brunswick Greensville Storage Facility, which is a greenfield project for Matrix and supports the Brunswick County and Greensville County power stations.

The project features a 25-million-gallon, full-containment LNG storage tank providing backup fuel supply for 700,000 businesses and homes.

Projects like these are core to our mission of supporting major energy companies, advancing American infrastructure, and connecting U.S. energy to the world.

The successful execution of these consecutive airlifts on complex, high-profile projects highlights Matrix's technical expertise, commitment to safety, and dedication to delivering exceptional outcomes for our clients and the communities that rely on these critical assets.

I will now turn the call over to Sean.

UNKNOWN, President and CEO Thank you, Patrick.