Team Inc. Reports Revenue Decline Amid Turnaround Delays
Event summary
- Q2 2026 revenue declined to $228.7M from $248.0M in Q2 2025.
- Net loss widened to $6.8M from $4.3M year-over-year.
- Adjusted EBITDA dropped to $12.8M (5.6% of revenue) from $24.5M (9.9%).
- Company expects 4-16% increases in key metrics for full-year 2026.
- Structural cost reduction targets set at $8-$15M for 2026.
The big picture
Team Inc.'s Q2 results reflect broader industry trends of delayed maintenance activity in oil and gas sectors, compounded by geopolitical factors in the Middle East. The company's strategic focus on cost reduction and market diversification aims to offset short-term headwinds while positioning for long-term growth. With $920M-$945M revenue guidance for 2026, TEAM is betting on operational improvements to drive profitability.
What we're watching
- Revenue Recovery Timing
- Whether deferred turnaround activity will return in H2 2026 as expected.
- Cost Reduction Impact
- The effectiveness of the $8-$15M structural cost improvement program.
- Market Diversification
- How successful TEAM will be in expanding into high-value industrial end markets.