Earnings Releases·Nov 12, 2026, 6:04 AM ET

Team, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 revenue declined 2.0% to $220.4 million year-over-year, while Adjusted EBITDA rose 8.2% to $15.7 million and net loss narrowed by $0.3 million to $11.1 million.
Full-year 2026 guidance was updated to reflect a 2% lower revenue midpoint ($870M–$890M) and a 5% lower Adjusted EBITDA midpoint ($56M–$59M), with gross margin guidance raised 3% to $226M–$249M.
Mechanical Services revenue fell 9.1% due to reduced oil and gas activity, whereas Inspection, Heat-Treating revenue grew 3.9%; Middle East conflict disruptions are expected to shift deferred maintenance work into early 2027.
Total debt increased to $319.1 million as of September 30, 2026, resulting in negative free cash flow of $5.8 million for the quarter, with total liquidity standing at $43.5 million.