Monday, August 17, 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. In the second quarter, Business Services delivered modest revenue growth, with gross profit down slightly year-over-year, while Energy Services posted strong year-over-year gains in revenue, gross profit, and adjusted EBITDA, reflecting activity increases and new client wins in the geothermal and mining industries. Building Solutions remained below management expectations due to market softness and contract timing.
2Q26 Results. Second quarter 2026 revenue was $54.9 million versus a pro forma $59.2 million in 2Q25. We were at $64 million. The delta was in Building Solutions, which continues to operate in a challenging environment. Adjusted EBITDA was $2.2 million versus a pro forma $8.5 million, which included a $5.5 million gain. Star reported an adjusted loss of $0.15/sh in 2Q26 compared to EPS of $0.20/sh in 2Q25.
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