Reports Q4 revenue up 13%, diluted EPS $0.04

Matrix Service Company announced its financial results for the fourth quarter of fiscal year 2026, ending June 30, 2026. The company reported revenue of $244.5 million, a 13% increase from $216.4 million in the same period last year. This marks the highest quarterly revenue in six years for the company.

The company posted a net income of $1.1 million, or $0.04 per diluted share, in contrast to a net loss of $(11.3) million, or $(0.40) per diluted share, in the fourth quarter of fiscal year 2025. Adjusted net income, a non-GAAP measure, was $4.6 million, or $0.16 per share, compared to an adjusted net loss of $(7.8) million, or $(0.28) per share, in the prior year quarter, indicating a second consecutive quarter of profitability. Gross profit for the quarter improved to $19.5 million, or 8.0% of revenue, from $8.1 million, or 3.8% of revenue, in the fourth quarter of fiscal year 2025.

For the full fiscal year 2026, Matrix Service Company recorded revenue of $873.6 million, up from $769.3 million in fiscal year 2025. The company's total backlog stood at $953.2 million as of June 30, 2026, with awards totaling $169.0 million during the fourth quarter. This resulted in a book-to-bill ratio of 0.7x for the quarter. The awards included a major mining construction project in the western United States.

Liquidity at June 30, 2026, was reported at $283.9 million, consisting of $223.0 million in unrestricted cash and cash equivalents and $60.9 million in borrowing availability under its credit facility, with no outstanding debt. SG&A expenses decreased to $16.9 million in the fourth quarter of fiscal 2026 from $17.6 million in the prior year, attributed to organizational realignment initiatives, though partially offset by variable compensation. The company also incurred $3.4 million in restructuring costs and other expenses during the quarter.