ITG Reports Strong Q2 Earnings with Revenue Growth, Backlog Expansion
ITG Inc. (NASDAQ: ITG) reported second-quarter revenue of $404.6 million for fiscal year 2026, a 38% increase from the prior year driven by acquisitions and strong performance in engineering and maintenance services. Adjusted EBITDA rose to $52.2 million, up 21%, exceeding internal expectations. The company’s next twelve-month backlog reached $1.5 billion, reflecting a 21% annual growth rate supported by eight new or extended master service agreements (MSAs). Total backlog now stands at $3.3 billion, offering visibility for future revenue. The firm raised its full-year guidance to $1.6 billion in revenue and $202 million in adjusted EBITDA, representing 35% and 36% growth respectively compared to the prior year. ITG also highlighted a strategic acquisition of Full Circle Fiber during the quarter, which added employees and customer contracts to its regional operations. The company used $323 million from its recent IPO proceeds to repay debt and strengthen its capital structure. Despite strong performance, management noted seasonal challenges due to weather disruptions in early 2026 that delayed construction activity by several weeks. Additionally, the firm expects reduced productivity during holiday periods later this year.
Topics: adjusted_ebitda backlog guidance revenue