Team, Inc. reported unaudited financial results for the second quarter ended June 30, 2026, announcing a net loss of $6.8 million compared to a $4.3 million loss in the prior-year period. Revenue declined 7.8% year-over-year to $228.7 million from $248.0 million, driven by a 51% drop in deferred turnaround and maintenance activity across core oil and gas markets and weakness in the Middle East. Adjusted EBITDA fell to $12.8 million (5.6% margin) from $24.5 million (9.9% margin). The company maintained its full-year 2026 guidance, projecting revenue of $920–$945 million and adjusted EBITDA of $68–$73 million, while targeting $8–$15 million in structural cost improvements for the year. Team, Inc. operates as a global provider of specialty industrial services, offering inspection, heat-treating, and mechanical maintenance solutions to critical infrastructure clients.
