Filing Flows › Matrix Service (MTRX) › Q3 FY25
Matrix Service (MTRX) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed May 8, 2025
Matrix Service (MTRX) reported revenue of $200M for the third quarter fiscal 2025 (Q3 FY25), +21% from a year earlier and +7% from the quarter before. Operating margin was -2.5%, net loss $3.4M (1.7% of revenue).
Matrix Service, Q3 FY25: revenue $200M (+21% year over year), operating margin -2.5%, net loss $3.4M, operating cash flow $31.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $200M | +7% | +21% |
| Operating profit | −$5.0M | — | — |
| Net earnings | −$3.4M | — | — |
| Operating cash flow | $31.2M | -7% | +26% |
| Free cash flow | $28.7M | -12% | +43% |
What changed
Revenue was $200.2M in Q3 FY25, up 21% year over year and up 7% from the previous quarter. Storage and Terminal Solutions was the largest line at 48% of revenue. Storage and Terminal Solutions added $41.8M year over year (up 77%), 122% of the total change. Process and Industrial Facilities declined 31%.
Gross margin was 6.4%, up 3.1 points from a year earlier. Operating costs exceeded revenue by $5.0M, an operating margin of -2.5%. Operating expenses fell 11% while revenue rose 21%. The quarter ended with a net loss of $3.4M, narrower than the previous quarter's $5.5M loss. Non-operating items added $1.6M, -46% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $31.2M (up 26% year over year). Non-cash charges added back $2.5M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $30.0M. Capital expenditures of $2.6M left free cash flow of $28.7M.
Questions
What was Matrix Service's revenue in the third quarter fiscal 2025?
Matrix Service (MTRX) reported revenue of $200M for the third quarter fiscal 2025 (Q3 FY25), +21% from a year earlier and +7% from the quarter before.
Was Matrix Service profitable in the third quarter fiscal 2025?
Operating loss was $5.0M (-2.5% of revenue) and net loss $3.4M.
Source: Matrix Service 10-Q on SEC EDGAR.