HMH Holding Q3 revenue falls on lower volume across product
HMH•HMH Holding's third-quarter revenue fell 21% year over year to $171.1 million as volumes declined across products, services and spare parts. Adjusted EBITDA fell 3% to $38.2 million, while the company completed a $14.5 million acquisition.
1. Quarterly results
HMH Holding reported third-quarter revenue of $171.1 million, down 21% year over year, citing lower volume across products, services and spare parts. Adjusted EBITDA decreased 3% to $38.2 million, and its margin improved to 22.3%.
2. Orders and acquisition
The company said delayed equipment orders and the ongoing Middle East conflict contributed to lower product revenue. Orders totaled $191 million, with year-over-year order growth driven by increased service orders. HMH Holding completed its acquisition of Deepwater Riser Services for $14.5 million.
