Matrix Service Company reported fiscal fourth-quarter 2026 revenue of $244.5 million, up from $216.4 million a year earlier and representing its highest quarterly revenue in six years.
Net income improved to $1.1 million, or $0.04 per share, from a net loss of $11.3 million, or $0.40 per share. Adjusted net income was $4.6 million, or $0.16 per share, and adjusted EBITDA reached $6.3 million compared with a negative $4.8 million a year earlier. The quarter marked Matrix’s second consecutive quarter of profitability.
Matrix ended fiscal 2026 with $953.2 million of backlog, $283.9 million of liquidity and no outstanding debt. Fourth-quarter project awards totaled $169 million.
For the full year, revenue increased to $873.6 million from $769.3 million, while adjusted EBITDA improved to $16 million from negative $12.9 million.
Matrix said its opportunity pipeline has expanded to more than $7 billion, including opportunities across LNG and NGL infrastructure, power generation, electric-grid modernization, data centers and mining and minerals production.
KEY QUOTE:
“Our fourth quarter results reflect the continued execution of our WIN, EXECUTE, DELIVER strategy. The combination of strong project execution, a more efficient cost structure, and a disciplined focus on the initiatives that matter most resulted in our second consecutive quarter of profitable growth. Revenue grew 13% year over year as our teams converted backlog into higher volumes, led by specialty storage activity in our Storage and Terminal Solutions segment and continued strong execution in Utility and Power Infrastructure. At the same time, the leaner organizational structure we have built over the past 18 months has meaningfully reduced our fixed overhead costs, while enabling us to support a higher base of revenue with improved efficiency. We enter fiscal 2027 with a debt-free balance sheet and substantial liquidity to support our growth objectives in this next chapter.”
Shawn P. Payne, President and Chief Executive Officer of Matrix Service Company
