--- title: "Matrix | 8-K: FY2026 Q3 Revenue Misses Estimate at USD 206.71 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285476668.md" datetime: "2026-05-07T03:07:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285476668.md) - [en](https://longbridge.com/en/news/285476668.md) - [zh-HK](https://longbridge.com/zh-HK/news/285476668.md) generator: "portal-rs" --- # Matrix | 8-K: FY2026 Q3 Revenue Misses Estimate at USD 206.71 M Revenue: As of FY2026 Q3, the actual value is USD 206.71 M, missing the estimate of USD 231.52 M. EPS: As of FY2026 Q3, the actual value is USD 0.03, missing the estimate of USD 0.065. EBIT: As of FY2026 Q3, the actual value is USD -3.153 M. ### Third Quarter Fiscal 2026 Highlights - Revenue for \[Matrix Service Company\] was $206.7 million . - Net income reached $0.8 million . - Adjusted net income was $3.8 million . - Adjusted EBITDA stood at $4.9 million . - Liquidity as of March 31, 2026, was $297.2 million, with no outstanding debt . - Total backlog amounted to $1.0 billion . - Awards totaled $108.3 million . ### Consolidated Results (Three Months Ended March 31, 2026 vs. 2025) - \#### Revenue\[Matrix Service Company\] reported total revenue of $206.7 million in Q3 fiscal 2026, an increase from $200.2 million in Q3 fiscal 2025 . - \#### Gross ProfitGross profit was $17.2 million (8.3% of revenue) in Q3 fiscal 2026, up from $12.9 million (6.4% of revenue) in Q3 fiscal 2025 . - \#### SG&A ExpensesSelling, General, and Administrative (SG&A) expenses decreased to $15.2 million in Q3 fiscal 2026 from $17.7 million in Q3 fiscal 2025 . - \#### Restructuring Costs and Other\[Matrix Service Company\] incurred $3.0 million in restructuring costs and other expenses in Q3 fiscal 2026, compared to $0.124 million in Q3 fiscal 2025 . - \#### Operating LossOperating loss improved to - $1.048 million in Q3 fiscal 2026 from - $5.0 million in Q3 fiscal 2025 . - \#### Net Income (Loss) Net income was $0.8 million in Q3 fiscal 2026, a significant improvement from a net loss of - $3.4 million in Q3 fiscal 2025 . - \#### Adjusted Net Income (Loss) Adjusted net income was $3.8 million in Q3 fiscal 2026, compared to an adjusted net loss of - $3.3 million in Q3 fiscal 2025 . - \#### Adjusted EBITDAAdjusted EBITDA increased to $4.9 million in Q3 fiscal 2026 from $0.01 million in Q3 fiscal 2025 . ### Consolidated Results (Nine Months Ended March 31, 2026 vs. 2025) - \#### RevenueTotal revenue was $629.101 million for the nine months ended March 31, 2026, up from $552.909 million for the same period in 2025 . - \#### Gross ProfitGross profit was $44.470 million for the nine months ended March 31, 2026, compared to $31.555 million for the same period in 2025 . - \#### SG&A ExpensesSG&A expenses were $46.661 million for the nine months ended March 31, 2026, down from $53.592 million for the same period in 2025 . - \#### Operating LossOperating loss was - $8.727 million for the nine months ended March 31, 2026, an improvement from - $22.161 million for the same period in 2025 . - \#### Net LossNet loss was - $3.722 million for the nine months ended March 31, 2026, compared to - $18.190 million for the same period in 2025 . - \#### Adjusted Net Income (Loss) Adjusted net income was $2.814 million for the nine months ended March 31, 2026, compared to an adjusted net loss of - $18.066 million for the same period in 2025 . - \#### Adjusted EBITDAAdjusted EBITDA was $9.756 million for the nine months ended March 31, 2026, compared to - $8.058 million for the same period in 2025 . ### Segment Results (Three Months Ended March 31, 2026 vs. 2025) - \#### Storage and Terminal SolutionsRevenue increased 16% to $111.6 million in Q3 fiscal 2026 from $96.1 million in Q3 fiscal 2025, primarily due to higher LNG project activity . Gross margin rose to 7.0% in Q3 fiscal 2026 from 3.9% in Q3 fiscal 2025 . Awards for the segment were $37.535 million, with a book-to-bill ratio of 0.3x . Backlog as of March 31, 2026, was $747.322 million . - \#### Utility and Power InfrastructureRevenue increased 2% to $60.0 million in Q3 fiscal 2026 from $58.7 million in Q3 fiscal 2025 . Gross margin increased to 13.6% in Q3 fiscal 2026 from 9.4% in Q3 fiscal 2025, driven by improved project execution . Awards for the segment were $46.633 million, with a book-to-bill ratio of 0.8x . Backlog as of March 31, 2026, was $189.447 million . - \#### Process and Industrial FacilitiesRevenue decreased to $35.1 million in Q3 fiscal 2026 from $45.4 million in Q3 fiscal 2025, mainly due to lower revenue volumes in thermal vacuum chambers, refinery work, and industrial facilities . Gross margin decreased to 2.5% in Q3 fiscal 2026 from 8.3% in Q3 fiscal 2025, primarily due to a mix of work and a legacy legal matter settlement . Awards for the segment were $24.135 million, with a book-to-bill ratio of 0.7x . Backlog as of March 31, 2026, was $91.898 million . ### Cash Flow (Nine Months Ended March 31, 2026 vs. 2025) - \#### Net Cash Provided by Operating ActivitiesNet cash provided by operating activities was $15.717 million for the nine months ended March 31, 2026, compared to $76.763 million for the same period in 2025 . - \#### Net Cash Provided (Used) by Investing ActivitiesNet cash used by investing activities was - $2.621 million for the nine months ended March 31, 2026, compared to - $5.188 million for the same period in 2025 . - \#### Net Cash Provided (Used) by Financing ActivitiesNet cash used by financing activities was - $4.228 million for the nine months ended March 31, 2026, compared to - $1.086 million for the same period in 2025 . - \#### Capital ExpendituresCapital expenditures were - $4.104 million for the nine months ended March 31, 2026, compared to - $5.425 million for the same period in 2025 . ### Balance Sheet & Liquidity (as of March 31, 2026) - Cash and cash equivalents were $233.021 million . - Restricted cash amounted to $25.0 million . - Total liquidity was $297.2 million . - Total assets were $616.550 million . - Total liabilities were $477.130 million . - Total stockholders’ equity was $139.420 million . ### Outlook / Guidance \[Matrix Service Company\] updated its fiscal year 2026 revenue guidance to a range of $870 million to $890 million, reflecting a 2% decrease at the mid-point compared to previous guidance . This adjustment is attributed to client and weather-related delays that impacted booked work in the third quarter, with these project activities now expected to shift into later periods . Despite the adjustment, the company’s project opportunity pipeline remains robust at over $6.9 billion, indicating multi-year opportunities across various markets . ### Related Stocks - [MTRX.US](https://longbridge.com/en/quote/MTRX.US.md) ## Related News & Research - [Matrix Service Company $MTRX Stake Cut by Azarias Capital Management L.P.](https://longbridge.com/en/news/295758614.md) - [Carlyle Credit Income Fund Q3 FY26 net investment income falls to $0.07 a share](https://longbridge.com/en/news/296394397.md) - [Toll Brothers (TOL) Fiscal Q3 2026 Earnings Call: Margin, Orders and Guidance](https://longbridge.com/en/news/296394486.md) - [MTRX: Strong revenue and profit growth in H1 2026, driven by robust IT and cloud demand](https://longbridge.com/en/news/296198078.md) - [ADM announces Q3 2026 distribution of R$ 0.22 per unit, payable Sept. 15](https://longbridge.com/en/news/296399586.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**