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Matrix Service (MTRX) earnings and revenue breakdown
Latest: Q1 FY27 · 10-Q filed Nov 5, 2026 · Matrix Service (MTRX) Q1 FY27 earnings results →
Q1 FY27 Revenue up 4% year over year to $219M · 3¢ of every $1 of revenue kept as net profit · operating margin 2.0%
Matrix Service made $219M in Q1 FY27 (+4% Y/Y): Storage and Terminal Solutions $123M, Utility and Power Infrastructure $59.1M, Process and Industrial Facilities $37.4M. Operating margin 2.0%, net earnings $6.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $219.4M in Q1 FY27, up 4% year over year and down 10% from the previous quarter. Storage and Terminal Solutions was the largest line at 56% of revenue. Storage and Terminal Solutions added $13.4M year over year (up 12%), 178% of the total change. Utility and Power Infrastructure declined 21%.
Gross margin was 8.2%, up 1.5 points from Q1 FY26. Operating profit was $4.5M, a 2.0% margin (up 4.6 points year over year). Operating expenses fell 31% while revenue rose 4%. Net earnings were $6.2M. The effective tax rate was 0.0%. Non-operating items added $1.7M, 28% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$37.0M. Non-cash charges added back $1.8M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $46.3M. Capital expenditures of $757K exceeded it, leaving free cash flow of −$37.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 FY27 | 10-Q | Nov 5, 2026 | $219M | +4% | 2.0% | $6.2M | −$37.0M |
| Q4 FY26 | 10-K | Sep 3, 2026 | $245M | +13% | -0.4% | $1.1M | −$8.8M |
| Q3 FY26 | 10-Q | May 7, 2026 | $207M | +3% | -0.5% | $835K | $34.2M |
| Q2 FY26 | 10-Q | Feb 5, 2026 | $211M | +12% | -1.0% | −$894K | $7.5M |
| Q1 FY26 | 10-Q | Nov 6, 2025 | $212M | +28% | -2.6% | −$3.7M | −$25.9M |
| Q4 FY25 | 10-K | Sep 10, 2025 | $216M | +14% | -6.0% | −$11.3M | $40.7M |
| Q3 FY25 | 10-Q | May 8, 2025 | $200M | +21% | -2.5% | −$3.4M | $31.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Matrix Service
We began operations in 1984 as an Oklahoma corporation under the name of Matrix Service. In 1989, we incorporated in the State of Delaware under the name of Matrix Service Company, and in 1990 we began trading on the NASDAQ exchange. We provide engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. We maintain regional offices throughout the United States, Canada and other international locations, and operate through separate union and non-union subsidiaries. We operate in all 50 states, in four Canadian provinces and in other international locations. Our principal executive offices are located at 15 E. 5th Street, Suite 1100, Tulsa, Oklahoma 74103. Our telephone number is (918) 838-8822.
In its own words, from its annual report, filed Sep 10, 2025.
Matrix Service against its Construction - Special Trade Contractors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +13%. Operating margin: 2.0% against the peers' median 6.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MTRX Matrix Service | Q1 FY27 | $219M | +4% | 2.0% |
| LGN Legence | Q2 2026 | $1.3B | +111% | -0.5% |
| RUN Sunrun | Q3 2026 | $1.1B | +52% | 14.0% |
| AMRC Ameresco | Q2 2026 | $515M | +9% | 8.6% |
| AGX Argan | Q2 FY27 | $384M | +62% | 14.8% |
| LMB Limbach Holdings | Q3 2026 | $230M | +25% | 6.5% |
| BBCP Concrete Pumping Holdings | Q3 FY26 | $117M | +13% | 12.9% |
| SPWR SunPower | Q2 2026 | $54.9M | -17% | -42.8% |
| CETX Cemtrex | Q3 FY26 | $18.4M | +9% | -6.5% |
Source: Matrix Service 10-Q on SEC EDGAR · CIK 866273 · Construction - Special Trade Contractors
Guidance and outlook
13F: who owns MTRX and who is buying
More on MTRX
History
Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results