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Earnings To Watch: Matrix Service (MTRX) Reports Q3 Results Tomorrow

MTRX Cover Image

Industrial construction and maintenance company Matrix Service (NASDAQ: MTRX) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.

Matrix Service missed analysts’ revenue expectations by 6.8% last quarter, reporting revenues of $216.4 million, up 14.2% year on year. It was a disappointing quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and a significant miss of analysts’ revenue estimates.

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

This quarter, analysts are expecting Matrix Service’s revenue to grow 24.8% year on year to $206.7 million, a reversal from the 16.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.

Matrix Service Total Revenue

Analysts covering the company have generally 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 three times since going public.

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 32.1%, beating analysts’ expectations by 17.7%, and Comfort Systems reported revenues up 35.2%, topping estimates by 13.2%. Comfort Systems traded up 18.9% following the results.

Read our full analysis of Primoris’s results here and Comfort Systems’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 up 23.8% during the same time and is heading into earnings with an average analyst price target of $16.50 (compared to the current share price of $15.86).

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