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Matrix Service (MTRX) Reports Earnings Tomorrow: What To Expect

November 05, 2024 at 02:12 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

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Industrial construction and maintenance company Matrix Service (NASDAQ: MTRX) will be reporting results tomorrow afternoon. Here’s what to look for.

Matrix Service missed analysts’ revenue expectations by 6.6% last quarter, reporting revenues of $189.5 million, down 7.9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and full-year revenue guidance exceeding analysts’ expectations.

Is Matrix Service a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Matrix Service’s revenue to decline 14.2% year on year to $169.5 million, a further deceleration from the 5.2% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.32 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Matrix Service has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Matrix Service’s peers in the construction and maintenance services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Primoris delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 3.5%, and Orion reported revenues up 34.5%, falling short of estimates by 3.6%. Orion’s stock price was unchanged following the results.

Read our full analysis of Primoris’s results here and Orion’s results here.

Investors in the construction and maintenance services segment have had steady hands going into earnings, with share prices flat over the last month. Matrix Service is down 1.8% during the same time and is heading into earnings with an average analyst price target of $17 (compared to the current share price of $11.14).

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