Matrix Service Company Reports Q1 Fiscal 2025 Results
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Matrix Service Company Reports Q1 Fiscal 2025 Results

Matrix Service ( (MTRX) ) has released its Q1 earnings. Here is a breakdown of the information Matrix Service presented to its investors.

Matrix Service Company, a prominent North American industrial engineering, construction, and maintenance contractor, operates primarily in the sectors of utility and power infrastructure, storage and terminal solutions, and process and industrial facilities. Headquartered in Tulsa, Oklahoma, the company has a strong focus on sustainability and ESG practices.

In the first quarter of fiscal 2025, Matrix Service Company reported revenues of $165.6 million and maintained its full-year revenue guidance of $900 to $950 million. Despite a net loss per share of $(0.33), the company showcased a robust backlog of $1.4 billion, indicating strong future project commitments.

Key financial highlights include total project awards of $148 million and a book-to-bill ratio of 0.9x, reflecting continued demand in its core markets. The Utility and Power Infrastructure segment saw significant year-over-year revenue growth of over 70%, driven by investment in grid reliability and resilience. However, the completion of a major renewable diesel project led to a temporary decline in the Process & Industrial Facilities segment revenue.

The company ended the quarter with a liquidity position of $181.2 million and no outstanding debt, underscoring its disciplined financial management. Looking ahead, Matrix Service Company anticipates increased revenue conversion from its backlog, improved fixed cost absorption, and a return to profitability in fiscal 2025, capitalizing on a $5.8 billion project opportunity pipeline.

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