Team, Inc. (TISI) Reports Q3 2026 Results Amid Turnaround Deferrals and Geopolitical Disruptions
Team, Inc. (TISI) reported third-quarter revenue of $220.4 million, a 2% year-over-year decrease driven by reduced turnaround and maintenance activity in the U.S. refining and petrochemical sectors. Despite the revenue dip, Adjusted EBITDA rose 8.2% to $15.7 million, benefiting from margin expansion and structural cost-saving initiatives that saw SG&A expenses decline by 7.4%. The company faces headwinds from geopolitical instability in the Middle East, specifically in Saudi Arabia, which has restricted access to customer facilities and pushed contracted work into future years. Consequently, management has adjusted its full-year Adjusted EBITDA guidance downward to a range of $56 million to $59 million, citing the timing of deferred projects in North America and the Middle East.