Team Q2 revenue falls as customers defer maintenance activity - TISI News | RalliesTeam Q2 revenue falls as customers defer maintenance activity
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TISI• Outlook
- Company expects deferred activity to return in H2 and guides for modest full-year revenue and margin growth
- Team sees 2026 revenue of $920 mln to $945 mln, up about 4% at midpoint over 2025
- Company expects 2026 gross margin of $240 mln to $260 mln, up about 8% at midpoint
- Team expects 2026 adjusted EBITDA of $68 mln to $73 mln, up about 16% at midpoint
Quarterly results and drivers
- Specialty industrial services provider's Q2 revenue declined 8% yr/yr due to deferred maintenance activity
- Q2 adjusted EBITDA dropped, reflecting lower turnaround activity and interim weakness in Middle East
- Deferred turnaround activity: Co said Q2 results were impacted by customers delaying planned maintenance in oil and gas and petrochemical markets
- Middle East weakness: Interim weakness in Middle East business due to ongoing conflict contributed to lower activity levels
| Metric | Actual |
|---|
| Q2 Revenue | $228.68 mln |
| Q2 Operating Expenses | $171.29 mln |
| Q2 Operating Income | $2.17 mln |
| Q2 Pretax Loss | $6.91 mln |
