Episode Details

Matrix Service Company (MTRX) Q4 FY2026 — Shares fell about 2.9% in the session after the print, from $10.86 to $10.55. Matrix Service posted its second straight profitable quarter, grew revenue 13%, and carries zero debt -- but company-wide book-to-bill was just 0.7x, and the stock fell anyway. THE CALL: BUY (3/5, MODERATE) — base-case value ~$12.50 vs ~$10.55 today. KEY METRICS: - Q4 revenue $244.5M, +13% y/y, highest quarterly revenue in six years - Q4 net income $1.142M, $0.04 diluted EPS (vs. $(11.272)M loss a year ago) - Adjusted net income $4.6M, $0.16 adjusted diluted EPS; adjusted EBITDA $6.3M - FY2026 revenue $873.6M; FY2026 GAAP diluted EPS $(0.09); adjusted EPS $0.26 - Total liquidity $283.9M, zero outstanding debt - Backlog $953.2M; Q4 company-wide book-to-bill 0.7x ($169.0M awards vs $244.5M revenue) - Northland Securities cut its price target to $16 from $24 on 2026-09-04, rating held at Outperform What to watch: Company-wide book-to-bill back above 1.0x, or Storage & Terminal Solutions margin holding above 5% without a one-time item. Also on YouTube: @ChargedAlpha DISCLAIMER: For informational and educational purposes only. Not financial advice. Do your own research before any investment decision.