HMH Holding Reports Q3 2026 Revenue Decline Amid Middle East Disruptions
HMH Holding reported a significant decline in third-quarter revenue, falling 21% year-over-year to $171.1 million. The downturn was primarily driven by a 69% collapse in product revenue, which management attributed to project delays and equipment order backlogs stemming from instability in the Middle East. Net income also saw a sharp contraction, dropping to $5.0 million from $16.2 million in the prior year period. Despite these headwinds, the company showed resilience in its aftermarket segment and order intake. Total orders rose 12% to $191 million, supported by strong demand for aftermarket services. Looking ahead, HMH issued revised 2026 Adjusted EBITDA guidance of $135 million to $140 million due to regional disruptions but provided optimistic long-term outlooks, projecting a 10% to 25% increase in floater activity for 2027.
Topics: aftermarket services EBITDA guidance order backlog revenue decline
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