Matrix Service Company · NASDAQ:MTRX
Matrix Service — Q3 2025 Earnings Presentation
23 slides from Matrix Service's earnings presentation, May 8, 2025
Slide 1: Investor Presentation Q3 FY25 Results
INVESTOR PRESENTATION Q3 FY25 Results | May 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 Conferences and Investor Corporate Access
Investor Conferences Investor Corporate Access Kellie Smythe Senior Director of Investor Relations, May 21-22, 2025 Sustainability, Marketing & Communications Sidoti Micro-Cap Virtual Conference T • 918 838 8822 E • ir@matrixservicecompany.com June 3-4, 2025 Stifel Cross Sector Insights Conference B
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 46% Storage tanks and terminals: of TTM revenue • Specialty vessels including comp
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 Facilities End Market Exposure End Market Exposure End Market Exposure Liquid Storage Power Power LNG Peak Upstream Midstream Downstream Che
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 $2+Trillion interconnects)
Slide 10: Backlog remains elevated versus historical levels, supporting increased visibility
Backlog remains elevated versus historical levels, supporting increased visibility Significant Backlog Supported by Book-to-Bill, Backlog, and Revenue robust infrastructure investment ($MM) Utility investment in peak shavers and $1,600.0 corresponding LNG storage infrastructure 1.7x $1,400.0 Energy
Slide 11: Robust opportunity pipeline
Robust opportunity pipeline Opportunity pipeline As of March 31, 2025 Consistent, strong opportunity pipeline across core operating segments Storage & Terminal ~$7 billion opportunity pipeline at March 31, 2025 Solutions 17% 60% Anticipate book-to-bill of at or near 1.0x for full-year FY25 Utility &
Slide 12: Strategic Roadmap
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Slide 13: Value creation framework
Value creation framework BUILDING A PLATFORM FOR PROFITABLE GROWTH AND EXECUTION EXCELLENCE ONGOING ORGANIZATIONAL TRANSFORMATION Continuous evolution to create a more effective organization that: • Better aligns our best-in-class engineering and construction resources to support significant expecte
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: Q3 FY25 Performance
PERFORMANCE /Q3 FY25 JATRIX SERVICE COMPANY
Slide 16: $1.4B in backlog provides multi-year visibility to profitable growth
$1.4B in backlog provides multi-year visibility to profitable growth Our diversified end-markets Q3 FY25 ($M) are anchored by longstanding customer relationships $847.8 $339.8 $1.4B $742M Backlog by TTM Revenue $240.9 Segment by Segment $297.5 $266.9 $161.7 Storage & Terminal Solutions Utility & Pow
Slide 17: Q3 FY25 financial performance
Q3 FY25 financial performance STRONG EXECUTION RESULTED IN ORGANIC REVENUE GROWTH AND CONTINUED FREE CASH GENERATION Organic growth expected to 3Q FY25 Strategic Milestones continue to accelerate in Q4 Key Metrics Long Term Value Creation FY25, resulting in a return to • Revenue of $200.2 million, a
Slide 18: Disciplined balance sheet management
Disciplined balance sheet management FORTIFIED BALANCE SHEET TO SUPPORT NEAR-TERM CAPITAL NEEDS AND INVEST IN LONG TERM GROWTH Capital Allocation Priorities Liquidity ($MM) $247.1 • Maximize balance sheet $211.7 flexibility to support project $181.3 working capital needs $169.6 • Strategic capex to
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 %) Q3 FY25 Q3 FY24 VARIANCE Revenue $ 200,161 $ 166,013 $ 34,148 • Activity continues to accelerate as a result of progressing work on several large Storage and Terminal Solutions 96,054 54,304 41,750 projects currently in backlog Utility and Pow
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 Q3 FY25 Net Income (Loss), as reported $ (3,167) $ (2,851) $ (14,581) $ (4,377) $ (9,223) $ (5,533) $ (3,434) Restructuring costs _ _ _ 501 _ _ 124 Gain on sale of assets (2,536) (2,006
Slide 23: Adjusted EBITDA
ADJUSTED EBITDA (In thousands) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Net Income (Loss), as reported $ (3,167) $ (2,851) $ (14,581) $ (4,377) $ (9,223) $ (5,533) $ (3,434) Interest expense 325 319 143 343 89 145 134 Interest income (150) (161) (166) (862) (1,572) (1,578) (1,518) Pro
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