Mattr Backlog Extends on Data Center, Infrastructure Demand
Dow Jones
Aug 19
1205 ET - Mattr is benefiting from the surge in demand for data centers and utilities, which drove backlogs to near-record highs. According to RBC's Sabahat Khan, the company is "well positioned for H2" as data center sales expand into a "growing contributor," expected to more than double in 2026 to about 5% of consolidated revenue. The momentum drove 2Q revenue up 23.4% year-over-year to meet preliminary guidance, alongside a 260 basis-point expansion in adjusted Ebitda margin to 15.8%. Growth was anchored by record output levels at Xerxes, where customer planning horizons now extend to "firm orders for delivery throughout 2027," as well as a 29.1% revenue jump in Connection Technologies. RBC raised its target price by C$9 to C$22. Shares are down 2.5% to C$18.98.
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