Matrix Service Company provides engineering, fabrication, construction, and maintenance services for critical energy infrastructure and industrial markets, operating across North America and internationally with full-service capabilities in storage/terminals, utility and power infrastructure, and process and industrial facilities.

# Matrix Service Company

## Overview
- Founded in 1984 as an Oklahoma corporation (incorporated in Delaware in 1989); began trading on NASDAQ in 1990.
- Provides engineering, fabrication, construction, and maintenance services for critical energy infrastructure and industrial markets.
- Operates through regional offices across the United States, Canada, and other international locations, with both union and non-union subsidiaries.
- Principal executive offices: 15333 JFK Blvd., Ste. 400, Houston, TX 77032.
- Purpose: create long-term value for employees, partners, shareholders, and communities; operate as a profitable, innovative, growth-oriented company that delivers safe, high-quality, on-time services.

## Reportable Segments

### Storage and Terminal Solutions
- EPC services plus repair, maintenance, and fabrication for bulk liquid, cryogenic, and refrigerated storage and terminal facilities.
- Supports LNG, NGLs, petroleum products, chemicals, hydrogen, and ammonia.
- Manufactures and sells specialty tank products such as geodesic domes, aluminum internal floating roofs, floating suction/skimmer systems, roof drain systems, and floating roof seals.

### Utility and Power Infrastructure
- Construction, maintenance, upgrades, and fabrication for power generation facilities and power infrastructure.
- Serves utilities, energy producers, and data centers; includes work on LNG peak shaving facilities.

### Process and Industrial Facilities
- Engineering, construction, maintenance, and repair across heavy industrial and energy transition markets, including midstream/downstream, chemicals, mining and minerals, renewable fuels, and hydrogen.
- Provides specialized infrastructure, including thermal vacuum test chambers for aerospace and defense.

## Strategic Priorities
- Win: grow and diversify revenue across legacy, new, and re-emerging North American markets; pursue opportunities in LNG/NGL, power generation for data centers, and critical minerals mining; expand construction-only services; broaden geographic reach and strengthen strategic accounts.
- Execute: focus on safe, high-quality delivery on time and on budget; realign the organization to improve project bidding and execution; enhance proposal, engineering, and construction processes; reinforce safety, change, and quality management.
- Deliver: translate profitable growth into long-term shareholder value through disciplined capital allocation, operational efficiency, and investments in people and systems; pursue balanced organic and acquisition-related growth; use its strong balance sheet and liquidity.

## Competitive Strengths
- Strong safety culture and deep expertise in complex storage infrastructure.
- Full-service capabilities with long-term client relationships and high repeat business.
- Skilled workforce and commitment to execution excellence.
- Established risk management practices.

## Customers and Marketing
- Served approximately 232 customers in fiscal 2026, with most revenue derived from long-term relationships.
- Major customers in fiscal 2026 (examples):
  - Customer A: $176.4 million (20.1% of consolidated revenue)
  - Customer B: $153.1 million (17.5% of consolidated revenue)
  - Customer C: $88.1 million (10.0% of consolidated revenue)
- These three customers together represented 47.6% of consolidated revenue in fiscal 2026.

Matrix Service Company provides engineering, fabrication, construction, and maintenance services for critical energy infrastructure and industrial markets.

# Matrix Service Company

## General information
- Founded: 1984 in Oklahoma  
- Incorporated: Delaware, 1989  
- Public listing: NASDAQ since 1990  
- Headquarters: 15 E. 5th Street, Suite 1100, Tulsa, Oklahoma 74103  
- Phone: (918) 838-8822  
- Website: http://matrixservicecompany.com

## Business segments
Matrix Service Company provides engineering, fabrication, construction, and maintenance services for energy infrastructure and industrial markets. The company reports three main segments:

1. Storage and Terminal Solutions  
   - Cryogenic and specialty tanks and terminals for LNG, NGLs, hydrogen, ammonia, and related products.  
   - Tank and terminal maintenance and repair; fabrication of specialty tank products.

2. Utility and Power Infrastructure  
   - Engineering and construction for LNG utility facilities, public and private utilities, substations, and power generation facilities.

3. Process and Industrial Facilities  
   - Plant maintenance and turnarounds for the energy sector; engineering and construction for refinery upgrades and other industrial infrastructure.

## Key metrics
- Customers served in fiscal 2024: approximately 270  
- Employees (as of June 30, 2024): 2,064 total  
  - Office-based: 638  
  - Field or craft: 1,426  
  - Geographic distribution: 1,846 U.S.; 182 Canada; 36 other international locations

## Financial performance (Fiscal Year 2024)
- Customer concentrations:  
  - One customer accounted for $76.6 million (10.5% of consolidated revenue)  
  - Another customer accounted for $75.2 million (10.3% of consolidated revenue)

## Corporate citizenship and values
- Emphasis on safety, integrity, community involvement, and stewardship  
- Focus on diversity, equity, and inclusion (DEI) in workforce and workplace culture  
- Recognized as a Great Place To Work® for eight consecutive years as of fiscal 2024

## Risks and challenges
- Exposure to the cyclical nature of energy demand  
- Sensitivity to commodity price fluctuations  
- Dependence on the availability of skilled labor

## Conclusion
Matrix Service Company delivers specialized services across storage, utility, and process sectors of the energy and industrial markets. The company maintains a large customer base, an experienced workforce, and an emphasis on safety, community, and employee engagement while pursuing leadership in its markets.

MATRIX SERVICE CO

10-K / September 3, 2026

10-K / September 10, 2024

10-K / September 3, 2026

Matrix Service Company

Overview

Reportable Segments

Storage and Terminal Solutions

Utility and Power Infrastructure

Process and Industrial Facilities

Strategic Priorities

Competitive Strengths

Customers and Marketing