Quarterly ResultMay 11, 2026, 05:32 PM
Star Equity Q1 Revenue $50.1M, Net Loss $4.4M
AI Summary
Star Equity Holdings reported Q1 2026 financial results with revenue increasing 57.1% to $50.1 million, but net loss attributable to common shareholders widened to $4.4 million, or $1.17 per diluted share. The company experienced weaker-than-expected performance in its Building Solutions and Business Services divisions due to project delays and macroeconomic conditions, while Energy Services maintained solid momentum. Management highlighted significant new business wins, contract renewals, and realized merger synergies of $2.6 million (annualized), expressing confidence in improved results later in the year.
Key Highlights
- Revenue increased 57.1% to $50.1 million for Q1 2026 compared to Q1 2025.
- Net loss attributable to common shareholders was $4.4 million, or $1.17 per diluted share.
- Adjusted EBITDA loss increased to $1.6 million from $0.7 million in Q1 2025.
- Cash and restricted cash totaled $10.3 million at March 31, 2026.
- Building Solutions revenue was $11.6 million with an adjusted EBITDA loss of $0.9 million.
- Business Services revenue grew to $35.0 million, with an adjusted EBITDA loss of $0.3 million.
- Energy Services revenue was $3.5 million, achieving an adjusted EBITDA of $1.0 million.
- The company repurchased 70,424 shares for approximately $0.7 million in Q1 2026.