Team revenue falls 2% to $220.4 million
By Brie CarterKey points
- Team reported third-quarter 2026 revenue of $220.4 million, down 2.0% from $225.0 million a year earlier.
- Adjusted EBITDA increased 8.2% to $15.7 million, although losses attributable to common shareholders widened to $14.2 million, or $3.10 per share.
- Team forecast 2026 revenue of $870 million–$890 million and adjusted EBITDA of $56 million–$59 million, while expecting deferred maintenance activity to return in early 2027.
Team (NYSE:TISI) reported third-quarter 2026 revenue of $220.4 million, down 2% from 2025, as weaker mechanical-services activity offset growth in inspection and heat-treating.
Revenue fell from $225 million a year earlier, while gross margin slipped to $55.8 million from $58 million and adjusted EBITDA rose 8.2% to $15.7 million.
Inspection and heat-treating revenue rose 3.9% to $127.1 million, while mechanical-services revenue fell 9.1% to $93.3 million and losses attributable to common shareholders widened to $14.2 million, or $3.10 per share.
Team forecast 2026 revenue of $870 million to $890 million and adjusted EBITDA of $56 million to $59 million.
The company said it is pursuing structural cost improvements of $15 million to $18 million and expanding its commercial reach into higher-value industrial markets.
Team provides inspection, heat-treating, maintenance and repair services to industrial customers, and reported $43.5 million in liquidity against $319.1 million in debt at September 30, up from $297.2 million at year-end 2025.
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