Friday, November 13, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. The operating environment for both the Business Services and Building Solutions segments remained challenging in the third quarter, resulting in weaker-than-expected results. Nonetheless, we believe Star Equity continues to set itself up to capitalize on a turnaround in the operating environment.
3Q26 Results. Revenue of $53.9 million rose 12.4% y-o-y, but was down from a pro forma $62.1 million last year. We had forecast $56.1 million. Adjusted EBITDA came in at $1.5 million, down from $3.1 million on a pro forma basis and versus our $1.6 million estimate. Adjusted net loss was $0.26/sh versus adjusted pro forma EPS of $0.18 in 3Q25. We had estimated a loss of $0.28/sh on an adjusted basis.
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