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Matrix Service (MTRX) to report earnings tomorrow: here is what to expect

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Industrial construction and maintenance company Matrix Service (NASDAQ: MTRX) will be reporting results this Wednesday after market close. Here’s what you need to know.

Matrix Service missed analysts’ revenue expectations last quarter, reporting revenues of $244.5 million, up 13% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS 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, the market is expecting Matrix Service’s revenue to grow 13.2% year on year, slowing from the 28% increase it recorded in the same quarter last year.

Matrix Service total revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Matrix Service has missed Wall Street’s revenue estimates multiple 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. MYR Group delivered year-on-year revenue growth of 32.5%, beating analysts’ expectations by 8.9%, and APi reported revenues up 22.5%, topping estimates by 6.3%. MYR Group traded up 1.1% following the results while APi was also up 7.3%.

Read our full analysis of MYR Group’s results here and APi’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 10.8% during the same time and is heading into earnings with an average analyst price target of $16 (compared to the current share price of $9.30).

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