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How Matrix Service (MTRX) makes money

Matrix Service (MTRX) made $219M of revenue in the first quarter fiscal 2027 (Q1 FY27), +4% from a year earlier. Storage and Terminal Solutions brought in $123M (56%); Utility and Power Infrastructure brought in $59.1M (27%); Process and Industrial Facilities brought in $37.4M (17%). Of every dollar of revenue, 8¢ was left as gross profit, 2¢ was left as operating profit, 3¢ was left as net earnings.

Drawing the Sankey…

Matrix Service revenue by segment, Q1 FY27Matrix Service revenue by segment, Q1 FY27Storage and Terminal Solutions$123MUtility and Power Infrastructure$59.1MProcess and Industrial Facilities$37.4M
Matrix Service: revenue by line, Q3 FY25 to Q1 FY27Matrix Service: revenue by line, Q3 FY25 to Q1 FY27Storage and Terminal …Utility and Power Inf…Process and Industria…Storage and Terminal Solutions: $123M latest$123MUtility and Power Infrastructure: $59.1M latest$59.1MProcess and Industrial Facilities: $37.4M latest$37.4MQ3 FY25Q1 FY26Q2 FY26Q3 FY26Q1 FY27
Storage and Terminal Solutions went from 48% of revenue in Q3 FY25 to 56% in Q1 FY27, the largest shift in the mix.
Matrix Service revenue by quarterMatrix Service revenue by quarter$200MQ3 FY25$216MQ4 FY25$212MQ1 FY26$211MQ2 FY26$207MQ3 FY26$245MQ4 FY26$219MQ1 FY27
Matrix Service: where each dollar of revenue goesMatrix Service: where each dollar of revenue goesCost of revenue92¢Gross profit8¢Operating expenses6¢Operating profit2¢Net earnings3¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Storage and Terminal Solutions$123M56.0%—+12%
Utility and Power Infrastructure$59.1M27.0%—-21%
Process and Industrial Facilities$37.4M17.0%—+34%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$219M100.0%
Cost of revenue$201M91.8%
Gross profit$18.1M8.2%
Operating expenses$13.6M6.2%
Operating profit$4.5M2.0%
Net earnings$6.2M2.8%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$219M+4%
Q4 FY26$245M+13%
Q3 FY26$207M+3%
Q2 FY26$211M+12%
Q1 FY26$212M+28%
Q4 FY25$216M+14%
Q3 FY25$200M+21%

From Matrix Service's 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Matrix Service make money?

Matrix Service (MTRX) made $219M of revenue in the first quarter fiscal 2027 (Q1 FY27), +4% from a year earlier. Storage and Terminal Solutions brought in $123M (56%); Utility and Power Infrastructure brought in $59.1M (27%); Process and Industrial Facilities brought in $37.4M (17%). Of every dollar of revenue, 8¢ was left as gross profit, 2¢ was left as operating profit, 3¢ was left as net earnings.

What is Matrix Service's biggest business?

Storage and Terminal Solutions: $123M in the first quarter fiscal 2027, 56% of revenue, +12% from a year earlier.

What is Matrix Service's profit margin?

Net earnings were $6.2M, 2.8% of revenue, in the first quarter fiscal 2027; the operating margin was 2.0%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.