Matrix Service Company · NASDAQ:MTRX
Matrix Service — Q2 2025 Earnings Presentation
23 slides from Matrix Service's earnings presentation, Feb 6, 2025
Slide 1: Investor Presentation Q2 FY25 Results
INVESTOR PRESENTATION Q2 FY25 Results | February 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains certain forward-looking statements concerning Matrix Service Company’s operations, economic performance and management’s best judgment as to what may occur in the future. The actual results for the current and future periods and other corporate develo
Slide 3: Investor Corporate Access
Investor Corporate Access Kellie Smythe Senior Director of Investor Relations, Sustainability, Marketing & Communications T • 918 838 8822 E • ir@matrixservicecompany.com SCAN QR CODE TO SIGN UP FOR MTRX NEWS © Matrix Service Company. All rights reserved. 3 3
Slide 4: Key messages
Key messages • Experienced specialty engineering and construction company supporting energy and utility infrastructure customers with a 40+ year track record • Provider of end-to-end services across entire asset life-cycle with niche capabilities in cryogenic storage for LNG, NGLs, and chemical appl
Slide 5: Business Overview
MATRIX SERVICE COMPANY ‘BUSINESS OVERVIEW
Slide 6: Who we are
Who we are Balanced Exposure Across Growing Energy & Infrastructure Markets (TTM revenue by segment) Specialty E&C business of scale Storage & Terminal Solutions. Headquartered in Tulsa, we are a leading specialty E&C company 42% Storage tanks and terminals: of TTM revenue • Specialty vessels includ
Slide 7: Full lifecycle solutions to support multi-year investments in core end-markets
Full lifecycle solutions to support multi-year investments in core end-markets Storage & Terminal Solutions Utility & Power Infrastructure Process & Industrial Infrastructure End Market Exposure End Market Exposure End Market Exposure Liquid Storage Power Power LNG Peak Data Centers/ Upstream Midstr
Slide 8: Demonstrated track record of long-term value creation
Demonstrated track record of long-term value creation Deliver Performance Drive Capabilities Build high-quality Deliver Targeted Disciplined Capital Excellence Expansion project pipeline Margin Performance Allocation Culture of safety Expand solutions set Multi-year visibility Improved operating lev
Slide 9: Multi-industry tailwinds driving sustainable growth
Multi-industry tailwinds driving sustainable growth OUR ROLE IN INFRASTRUCTURE Industry Outlook Data Center Energy Demand Low-Cost Feedstock Planned Infrastructure spending through 2030 Back-up fuel storage Liquid storage facilities Power delivery (substations, grid • LNG $2+Trillion interconnects)
Slide 10: Backlog remains elevated versus historical levels, supporting increased visibility
Backlog remains elevated versus historical levels, supporting increased visibility Significant Backlog Supported by Book-to-Bill, Backlog, and Revenue robust low carbon infrastructure ($MM) investment $1,400.0 Utility investment in peak shavers and 1.7x corresponding LNG storage infrastructure $1,31
Slide 11: Robust opportunity pipeline weighted toward low-carbon projects
Robust opportunity pipeline weighted toward low-carbon projects Opportunity pipeline As of December 31, 2024 Significant low carbon energy infrastructure opportunities ~76% of project opportunities during the next 18 months are related to public and private investments in low-carbon energy infrastru
Slide 12: Strategic Roadmap
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Slide 13: Value creation framework
Value creation framework BUILDING A PLATFORM FOR PROFITABLE GROWTH WIN EXECUTE DELIVER Grow market share within both existing and high- Safe, reliable, efficient on-budget project Scalable platform of commercial, operational, value end markets management financial excellence Leverage established pre
Slide 14: Returns-centric capital allocation
Returns-centric capital allocation INVESTING IN GROWTH AND CREATING SHAREHOLDER VALUE Deliver organic and inorganic growth through investment in expanded Balancing organic and service offerings and geographic footprint inorganic investment while maintaining a strong balance Key service offerings. Gr
Slide 15: Q2 FY25 Performance
PERFORMANCE /Q2 FY25 JATRIX SERVICE COMPANY
Slide 16: $1.3B in backlog provides multi-year visibility to profitable growth
$1.3B in backlog provides multi-year visibility to profitable growth Our diversified end-markets Q2 FY25 ($MM) are anchored by longstanding customer relationships $739.0 Backlog by $298.0 TTM Revenue $228.4 Segment by Segment ($MM) ($MM) $318.5 $253.6 $181.8 Storage & Terminal Solutions Utility & Po
Slide 17: Q2 FY25 financial performance
Q2 FY25 financial performance STRONG EXECUTION RESULTED IN ORGANIC REVENUE GROWTH AND CONTINUED FREE CASH GENERATION Organic growth expected to 2Q FY25 Strategic Milestones accelerate greater than 40% Key Metrics Long Term Value Creation year-over-year in the second half of FY25, resulting in a • Re
Slide 18: Disciplined balance sheet management
Disciplined balance sheet management FORTIFIED BALANCE SHEET TO SUPPORT NEAR-TERM CAPITAL NEEDS AND INVEST IN LONG TERM GROWTH Capital Allocation Priorities Cash and Available Liquidity ($MM) $211.7 • Maximize balance sheet $181.3 flexibility to support project $169.6 working capital needs $135.0 •
Slide 19: Investment summary
Investment summary To be updated Key Catalysts w/results Proven specialty E&C service provider with KEY LONG-TERM FINANCIAL TARGETS full lifecycle expertise Less than Less than Track record of excellence with deep base 6% 6.5% of recurring energy and industrials clients NET WORKING CAPITAL* SG&A MAR
Slide 20: Appendix
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Slide 21: Quarterly Results | Consolidated
QUARTERLY RESULTS | CONSOLIDATED (In thousands except %) Q2 FY25 Q2 FY24 VARIANCE Revenue $ 187,169 $ 175,042 $ 12,127 • Activity has begun to ramp as a result of progressing work on several large projects Storage and Terminal Solutions 95,507 62,360 33,147 currently in backlog Utility and Power Inf
Slide 22: Adjusted Net Income (Loss)
ADJUSTED NET INCOME (LOSS) (In thousands except per share amounts) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Net Income (Loss), as reported $ (3,167) $ (2,851) $ (14,581) $ (4,377) $ (9,223) $ (5,533) Restructuring costs _ _ _ 501 _ _ Gain on sale of assets (2,536) (2,006) _ _ _ _ Tax impact o
Slide 23: Adjusted EBITDA
ADJUSTED EBITDA (In thousands) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Net Income (Loss), as reported $ (3,167) $ (2,851) $ (14,581) $ (4,377) $ (9,223) $ (5,533) Interest expense 325 319 143 343 89 145 Interest income (150) (161) (166) (862) (1,572) (1,578) Provision (benefit) for federal,
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