Q2 2026 Mattr Corp Earnings Call Transcript
Key Points
- Record revenue and adjusted EBITDA in Q2 2026, driven by strong commercial execution and operational efficiency gains.
- Xerxes set new manufacturing efficiency and output records, leading to record quarterly revenue in fuel and water products and a 15% year-over-year revenue growth in H1 2026.
- Flexpipe captured first commercial revenue from its new 8-inch technology and secured incremental orders extending backlog into Q4.
- Data center applications are becoming a significant growth driver, with sales expected to more than double in 2026 and represent about 5% of consolidated revenue.
- GICS reclassification to the industrial sector improves comparability with industrial peers and reflects the company's critical infrastructure focus.
- Q2 operating cash flow was slightly negative due to working capital investments for growth, including higher accounts receivable and inventory.
- Composite Technologies' EBITDA margin was held back by a less favorable product mix, with Xerxes' lower-margin revenue share increasing and Flexpipe's international order carrying lower margins.
- North American oilfield activity remained below the prior year quarter, with expectations of only gradual increases due to commodity price fluctuations.
- Automotive markets remain subdued, with global production expectations under pressure, particularly in Europe.
- Trade policy uncertainty, especially following early Q3 US tariff announcements, poses a risk to future business operations.
Good day, and thank you for standing by. Welcome to Mattr's second quarter 2026 results webcast and conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the conference over to your speaker for today, Meghan MacEachern. Please go ahead.
Good morning. Before we begin this morning's conference call, I would like to remind listeners that today's call includes forward-looking statements that involve estimates, judgments, risks, and uncertainties that may cause actual results to differ materially from those projected. The complete text of Mattr's statement on forward-looking information is included in Section 4.0 of the second quarter 2026 earnings press release, in the MD&A that is available on SEDAR+, and on the company's website at mattr.com. For those joining via webcast, you may follow the visual presentation that accompanies this call.
I'll now turn it over to Mattr's
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