Industrial services firm Team Q3 revenue falls on deferred turnaround activity
TISI•TISI•TISI•TISI•Team’s Q3 revenue fell 2% year over year to $220.4 million, while adjusted EBITDA rose 8% to $15.7 million. The company expects 2026 revenue of $870 million to $890 million and adjusted EBITDA of $56 million to $59 million.
Team’s Q3 revenue fell 2% year over year to $220.4 million. Adjusted EBITDA rose 8% to $15.7 million, supported by cost reduction efforts.
The company said continued deferrals of planned turnaround and maintenance work in refining and petrochemical markets mainly drove the revenue decline. Middle East conflict disruptions also delayed customer activity and completion of work previously anticipated before year-end.
Team expects 2026 revenue of $870 million to $890 million, down about 2% from 2025, and adjusted EBITDA of $56 million to $59 million, down about 5%. It expects deferred turnaround activity to recover in early 2027.
