Matrix Service returns to profit in Q3 FY26; revenue rises 3% to $206.71 million

• Matrix Service returned to profit in fiscal third-quarter 2026, posting net income of USD 835,000 versus a net loss of USD 3.43 million a year earlier.
• Revenue rose 3% to USD 206.71 million, while gross margin widened 1.9 percentage points to 8.3%.
• SG&A expenses fell 14% to USD 15.22 million, while restructuring costs increased to USD 2.99 million.
• Backlog declined to USD 1.03 billion as of March 31, 2026, with quarterly book-to-bill of 0.5x.
• Management said it is taking additional cost actions in fiscal fourth-quarter 2026, including workforce reductions and elimination of the Chief Administrative Officer role, while CFO Kevin Cavanah is expected to depart in September 2026.

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