MTRXNasdaqConstruction - Special Trade ContractorsUS GAAP · USD

Matrix Service Company

Matrix Service Co. is a U.S.-based specialty contractor that engineers, fabricates, constructs, and maintains critical energy and industrial infrastructure. The company serves customers across storage terminals, utility and power infrastructure, and process/industrial facilities, with work ranging from tank and terminal projects to plant maintenance, turnarounds, and complex industrial construction.

Liikevaihto874milj. USD
+13,6 %v/v
Liikevoitto (EBIT)−9,6milj. USD
+72,6 %v/v
EBIT-marginaali−1,1%
+3,5 %-yks.v/v
Nettotulos−2,6milj. USD
+91,2 %v/v
Vapaa kassavirta1,4milj. USD
−98,7 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−20002004006008001 000milj. USD2021: 673 milj. USD2021: EBIT −44 milj. USD20212022: 708 milj. USD2022: EBIT −88 milj. USD20222023: 795 milj. USD2023: EBIT −53 milj. USD20232024: 728 milj. USD2024: EBIT −30 milj. USD20242025: 769 milj. USD2025: EBIT −35 milj. USD20252026: 874 milj. USD2026: EBIT −9,6 milj. USD2026874−9,6
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Storage and Terminal Solutions49 %

Engineering, fabrication and construction for cryogenic and specialty tanks, terminals and related storage infrastructure.

Utility and Power Infrastructure32 %

Construction and maintenance services for electric utility and power delivery infrastructure.

Process and Industrial Facilities19 %

Maintenance, turnarounds and EPC work for refining, renewable fuels and other industrial process facilities.

Asiakkaat

Matrix sells primarily to industrial and energy infrastructure operators that need specialized, safety-critical execution on large projects and maintenance programs. Its customer base includes utilities, midstream and downstream energy companies, terminal operators, and industrial manufacturers that value repeatability, schedule certainty, and the ability to handle complex scopes under long-term relationships or MSAs.

Utilities and power operators

Buy transmission, distribution and power infrastructure work to improve grid reliability and electrical supply assurance.

Storage and terminal operators

Buy cryogenic and specialty tank, terminal and balance-of-plant construction for LNG, NGL, hydrogen and related products.

Refining and midstream energy companies

Buy maintenance, repair, turnarounds and EPC services for crude oil, natural gas and natural gas liquids facilities.

Renewable fuels and energy transition projects

Buy retrofit and construction services for renewable diesel, hydrogen processing and other transition-related assets.

Industrial and specialty process customers

Buy construction and maintenance for chemicals, petrochemical, mining, cement, wastewater and aerospace/defense facilities.

Strategia

Matrix is focusing on converting its backlog, improving execution efficiency, and aligning resources toward the end markets with the best growth and margin opportunities. Management is also simplifying the organization to lower overhead, improve operating leverage, and support a more resilient platform for long-term shareholder value.

Backlog conversion and execution excellenceLyhyt aikaväli

Revenue and margin depend on delivering awarded projects safely, on time and within estimate.

Cost structure reduction and organizational simplificationLyhyt aikaväli

A flatter, leaner structure should improve overhead recovery and operating leverage.

Target growth markets tied to infrastructure investmentKeskipitkä aikaväli

End-market demand is supported by LNG, grid reliability, data centers, reshoring and energy transition.

Maantiede

Matrix operates across all 50 U.S. states, four Canadian provinces, and other international locations, with regional offices supporting project execution close to customer sites. The business is still primarily North American, but its small international footprint adds exposure to foreign currency, local regulation and cross-border operating complexity.

Riskit

The company is exposed to project execution risk because most revenue comes from fixed-price or estimate-sensitive contract work, where cost overruns can erase profit. It also faces customer concentration, seasonality, cybersecurity and international operating risks, all of which can create volatility in revenue, margins and cash flow.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Contract estimate and cost overrun risk1Customer concentration2Cybersecurity and systems disruption3Seasonality and project timing4International operating risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Contract estimate and cost overrun riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Revenue and profit are recognized over time using estimated costs, so bad estimates can reverse prior profits.

    Kohdistuu: Fixed-price EPC and construction contracts

  2. Customer concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A small number of customers can represent a meaningful share of revenue, increasing volatility if awards slow.

    KohdistuuLarge utilityTerminalIndustrial clients
  3. Cybersecurity and systems disruptionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Operations depend on project management, estimating, HR and accounting systems that could be disrupted by attacks.

    Kohdistuu: IT systems and customer/employee data

  4. Seasonality and project timingVaikutus: KeskitasoTodennäköisyys: Matala

    Turnarounds and utility work are often scheduled in lower-demand periods, causing quarter-to-quarter swings.

    Kohdistuu: Process and Industrial Facilities; Utility and Power Infrastructure

  5. International operating riskVaikutus: MatalaTodennäköisyys: Matala

    Non-U.S. work can be affected by FX, political instability, regulation and cash repatriation constraints.

    Kohdistuu: Canada and other international locations

Kirjanpito

Harkinnanvaraiset erät
Percentage-of-completion revenue recognition

Profit is recognized based on estimated total costs, so estimate changes can materially affect reported earnings.

Vaikutus: Can reverse previously recognized profit or create loss provisions

Contract loss accruals and change orders

Management must estimate claims, incentives, penalties and customer-induced delays on long-duration jobs.

Vaikutus: Affects gross margin and operating income timing

Seasonality and project timing

Turnarounds and utility work are scheduled around customer demand, making quarterly results uneven.

Vaikutus: Reduces comparability across quarters

Goodwill impairment

Acquired goodwill is tested annually and when conditions change, which can create non-cash charges.

Vaikutus: Could affect reported equity and earnings

Letters of credit and contract support

Outstanding letters of credit support insurance and construction obligations and indicate contingent commitments.

Vaikutus: Relevant for liquidity and off-balance-sheet risk assessment

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026