Matrix Authorizes $25 Million Buyback as Opportunity Pipeline Reaches $8.2B

Matrix Service Company (Nasdaq: MTRX) authorized a $25 million buyback as its opportunity pipeline rose to $8.2 billion and posted its third consecutive profitable quarter in Q1 fiscal 2027.

The pipeline grew from about $7.4 billion and spans LNG, power generation, electrical infrastructure, and mining and minerals. Backlog was $873 million.

Matrix reported earnings of $0.22 per diluted share, compared with a loss of $0.13 per share in the year-earlier quarter. Total liquidity was $222 million.

Management expects quarterly revenue for the rest of fiscal 2027 to average above the Q1 level. It expects awards to increase in the second half of fiscal 2027, primarily supporting fiscal 2028 revenue. Several booked projects shifted into later quarters.