1
Q3 2026 Earnings Call
November 12, 2026
www. starequity. com
Common Stock: Nasdaq: STRR
Series A 10% Preferred Stock: Nasdaq: STRRP
A Diversified Holding CompanyCreating Shareholder Value through Organic Growth, Acquisitions, and Share Repurchases
Q3 2026: Consolidated Financial ResultsUS$ In Millions, except EPS | '+ / - (1) | Q3 2026 | Q3 2025 PF (5) | |
Revenue | - | 13% | $53.9 | $62.1 |
Gross Profit | - | 8% | $23.2 | $25.4 |
Adjusted SG&A(2) (3) | + | 1% | $22.8 | $22.5 |
Adjusted EBITDA(4) | - | 50% | $1.5 | $3.1 |
Net Income (Loss) attributable to common shareholders | + | 13% | $(2.2) | $(2.5) |
Adjusted Net Income (Loss) attributable to common shareholders | - | 243% | $(1.0) | $0.7 |
Diluted EPS attributable to common shareholders | + | 13% | $(0.60) | $(0.69) |
Adjusted Diluted EPS attributable to common shareholders(4) | - | 244% | $(0.26) | $0.18 |
(1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
(2) Excludes stock compensation expense of $0.8 million and $0.4 million for the three months ended September 30, 2026 and 2025, respectively.
(3) For the three months ended September 30, 2026 and 2025, SG&A excludes non-recurring expenses of $1.1 million and $2.6 million, respectively.
(4) Adjusted EBITDA, Adjusted Net Income, and Adjusted Diluted EPS are non-GAAP financial measures. Please reference the Appendix of this presentation for a reconciliation of these non-GAAP measures.
(5) Pro forma Building Solutions, Energy Services, and Investments results for the full third quarter of 2025.
Q3 YTD 2026: Consolidated Financial ResultsUS$ In Millions, except EPS | '+ / - (1) | Q3 YTD 2026 | Q3 YTD 2025 PF (5) | |
Revenue | - | 5% | $158.9 | $167.9 |
Gross Profit | - | 6% | $66.6 | $70.8 |
Adjusted SG&A(2) (3) | - | -% | $67.8 | $68.0 |
Adjusted EBITDA(4) | - | 80% / 57% | $2.1 | $10.4 / $4.9 |
Net Income (Loss) attributable to common shareholders | - | 117% | $(9.0) | $(4.2) |
Adjusted Net Income (Loss) attributable to common shareholders | - | 199% | $(5.2) | $5.3 |
Diluted EPS attributable to common shareholders | - | 104% | $(2.43) | $(1.19) |
Adjusted Diluted EPS attributable to common shareholders(4) | - | 193% | $(1.41) | $1.52 |
(1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
(2) Excludes stock compensation expense of $2.0 million and $1.2 million for the nine months ended September 30, 2026 and 2025, respectively.
(3) For the nine months ended September 30, 2026 and 2025, SG&A excludes non-recurring expenses of $3.0 million and $5.7 million, respectively.
(4) Adjusted EBITDA, Adjusted Net Income, and Adjusted Diluted EPS are non-GAAP financial measures. Please reference the Appendix of this presentation for a reconciliation of these non-GAAP measures. For Q3 YTD 2025 Adjusted EBITDA, the PF number of $10.4 million included a realized gain of $5.5 million in the Investments division. PF Adjusted EBITDA without this gain was $4.9 million.
(5) Pro forma Building Solutions, Energy Services, and Investments results for the full first three quarters of 2025. Alliance Drilling Tools was acquired by Star Operating Companies on March 3, 2025.
Corporate Cost Savings(1) Please reference the slides in the Appendix of this presentation for a reconciliation of this non-GAAP measure.
(2) Based on "Corporate" column in Reconciliation of Adjusted EBITDA table.
Q3 2026 Cash Flow SummaryWorking Capital
Stockholders' Equity
US$ In Millions 9/30/2026 | 12/31/2025 | |
Selected Assets | ||
Cash | $6.2 | $10.3 |
Restricted Cash | $1.6 | $3.1 |
Accounts Receivable | $31.8 | $35.2 |
Stockholders' Equity | $58.1 | $65.7 |
Current Assets | $54.3 | $62.5 |
Current Assets ex-cash | $48.1 | $52.2 |
Current Liabilities | $28.1 | $29.8 |
Working Capital | $26.1 | $32.7 |
Working Capital ex-cash | $19.9 | $22.4 |
Building Solutions Division
(slides9-10) Business Services Division (slides11-13) Energy Services Division (slide14)Business Divisions
Current businesses:
opportunities, financial highlights, and future goals
Q3 2026: Building Solutions Financial ResultsUS$ In Millions | '+ / - (1) | Q3 2026 | Q3 2025 PF (2) | |
Revenue | - | 24% | $16.3 | $21.4 |
Gross Profit | - | 37% | $3.3 | $5.3 |
Adjusted EBITDA(3) | - | 73% | $0.7 | $2.6 |
(1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
(2) Pro forma Building Solutions results for the full third quarter of 2025.
(3) Adjusted EBITDA is a non-GAAP financial measure. Please reference the slides in the Appendix of this presentation for a reconciliation of this non-GAAP measure.
Building Solutions: BacklogHistorical Backlog | |||||
(USD in thousands) | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
Beginning Backlog (1) | $ 25,739 | $ 20,032 | $ 9,598 | $ 7,983 | $ 10,645 |
(+) New Orders | $ 15,680 | $ 7,541 | $ 9,983 | $ 17,275 | $ 17,126 |
(-) Recognized Revenue | $ 21,387 | $ 17,975 | $ 11,598 | $ 14,612 | $ 16,347 |
Ending Backlog | $ 20,032 | $ 9,598 | $ 7,983 | $ 10,645 | $ 11,424 |
LTM Book to Bill Ratio | 1.01 | 0.89 | 0.72 | 0.77 | 0.86 |
(1) Backlog defined as future revenue under contract.
Q3 2026: Business Services Financial ResultsUS$ In Millions | '+ / - (1) | Q3 2026 | Q3 2025 | |
Revenue | - | 9% | $33.8 | $37.0 |
Gross Profit | - | 2% | $18.2 | $18.6 |
Adjusted EBITDA(2) | - | 43% | $1.0 | $1.7 |
(1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
(2) Adjusted EBITDA is a non-GAAP financial measure. Please reference the slides in the Appendix of this presentation for a reconciliation of this non-GAAP measure.
Q3 2026: Business Services Operating Dashboard(3)
Q3 2026: Business Services Regional SplitRevenue
Gross Profit
Q3 2026: Energy Services Financial ResultsUS$ In Millions | '+ / - (1) | Q3 2026 | Q3 2025 PF (2) | |
Revenue | + | 1% | $3.7 | $3.7 |
Gross Profit | + | 17% | $1.8 | $1.5 |
Adjusted EBITDA(3) | + | 4% | $1.1 | $1.0 |
(1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
(2) Pro forma Energy Services results for the full third quarter of 2025.
(3) Adjusted EBITDA is a non-GAAP financial measure. Please reference the slides in the Appendix of this presentation for a reconciliation of this non-GAAP measure.
Appendix
Reconciliation of Non-GAAP Financials1. Non-GAAP earnings before interest, income taxes, and depreciation and amortization ("EBITDA") and non-GAAP earnings before interest, income taxes, depreciation and amortization, non-operating income (expense), stock-based compensation expense, and other non-recurring items ("Adjusted EBITDA") are presented to provide additional information about the Company's operations on a basis consistent with the measures which the Company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. EBITDA and Adjusted EBITDA should not be considered in isolation or as a substitute for operating income, cash flows from operating activities, or other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the Company's profitability or liquidity. Furthermore, EBITDA and Adjusted EBITDA as presented above may not be comparable with similarly titled measures reported by other companies.
(1) Represents Revenue less direct contracting costs and reimbursed expenses for Business Services.
(2) EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation and amortization. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation and amortization, non-operating income, stock-based compensation expense, and other items such as non-recurring severance and professional fees.
(3) Amounts may not sum due to rounding.
(4) Adjusted net income or loss per diluted share is a Non-GAAP measure defined as reported net income or loss per diluted share before items such as acquisition-related costs and non-recurring severance and professional fees after tax that is presented to provide additional information about the company's operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. Adjusted net income or loss per diluted share should not be considered in isolation or as a substitute for net income or loss per diluted share and other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the company's profitability or liquidity. Further, Adjusted net income or loss per diluted share as presented above may not be comparable with similarly titled measures reported by other companies.
Reconciliation of Non-GAAP Financial Measures Q3 2026 and 2025 | ||||||||||||||
Q3 2026 | Building Solutions | Business Services | Energy Services | Investments | Corporate | Total (3) | Q3 2025 | Building Solutions | Business Services | Energy Services | Investments | Corporate | Total (3) | |
Revenue | $ 16.3 | $ 33.8 | $ 3.7 | $ 0.2 | $ (0.2) $ | 53.9 | Revenue | $ 9.6 | $ 37.0 | $ 1.3 | $ 0.1 | $ (0.1) $ | 48.0 | |
Gross profit (1) | $ 3.3 | $ 18.2 | $ 1.8 | $ 0.1 | $ (0.2) $ | 23.2 | Gross profit (1) | $ 1.7 | $ 18.6 | $ 0.3 | $ - | $ (0.1) $ | 20.6 | |
Net income (loss) attributable to common shareholders | $ (0.2) | $ (0.4) | $ 0.6 | $ 0.5 | $ (2.8) $ | (2.2) | Net income (loss) attributable to common shareholders | $ 0.3 | $ 0.3 | $ (0.1) | $ 0.1 | $ (2.5) $ | (1.8) | |
Dividends on Series A perpetual preferred stock | - | - | - | - | 0.6 | 0.6 | Dividends on Series A perpetual preferred stock | - | - | - | - | 0.1 | 0.1 | |
Net income (loss) | (0.2) | (0.4) | 0.6 | 0.5 | (2.2) | (1.6) | Net income (loss) | 0.3 | 0.3 | (0.1) | 0.1 | (2.4) | (1.8) | |
Provision from income taxes | - | - | - | - | (0.1) | - | Provision for (benefit from) income taxes | - | - | - | - | 0.2 | 0.2 | |
Interest (income) expense, net | 0.2 | 0.2 | - | (0.2) | (0.1) | - | Interest (income) expense, net | 0.1 | 0.1 | - | (0.1) | (0.2) | (0.1) | |
Total depreciation and amortization | 0.3 | 0.2 | 0.3 | 0.1 | - | 0.9 | Total depreciation and amortization | 0.1 | 0.3 | 0.2 | - | - | 0.7 | |
EBITDA (loss) (2) | 0.3 | - | 1.0 | 0.4 | (2.4) | (0.7) | EBITDA (loss) (2) | 0.5 | 0.8 | 0.1 | - | (2.4) | (0.9) | |
Foreign currency (gain) loss | - | 0.1 | - | - | - | 0.1 | Foreign currency (gain) loss | - | (0.1) | - | - | - | (0.1) | |
Corporate administrative charges | 0.4 | 0.2 | 0.1 | - | (0.7) | - | Corporate administrative charges | - | 0.2 | - | - | (0.2) | - | |
Other non-operating expense (income) | - | - | - | - | - | - | Other non-operating expense (income) | - | - | - | - | - | - | |
Stock-based compensation expense | - | 0.2 | - | - | 0.6 | 0.8 | Stock-based compensation expense | - | 0.2 | - | - | 0.1 | 0.4 | |
Interest income | - | - | - | 0.3 | - | 0.3 | Interest income | - | - | - | 0.1 | - | 0.1 | |
Unrealized (gain) loss on equity securities | - | - | - | - | - | - | Unrealized (gain) loss on equity securities | - | - | - | - | - | - | |
Severance / non-recurring salary | - | 0.3 | - | - | - | 0.3 | Severance / non-recurring salary | - | 0.3 | - | - | - | 0.3 | |
Transaction costs related to mergers and acquisitions | - | - | - | - | 0.7 | 0.7 | Transaction costs related to mergers and acquisitions | - | 0.1 | - | - | 1.1 | 1.3 | |
Financing costs | - | - | - | - | - | - | Financing costs | - | - | - | - | - | - | |
Other non-recurring expenses | - | - | - | - | - | - | Other non-recurring expenses | 0.1 | 0.1 | - | - | 0.1 | 0.3 | |
Adjusted EBITDA (loss) (2)(4) | $ 0.7 | $ 1.0 | $ 1.1 | $ 0.6 | $ (1.8) $ | 1.5 | Adjusted EBITDA (loss) (2)(4) | $ 0.6 | $ 1.7 | $ 0.1 | $ 0.2 | $ (1.2) $ | 1.3 | |
Reconciliation of Non-GAAP Financial Measures Q3 YTD 2026 and 2025 | |||||||||||||||
Q3 YTD 2026 | Building Solutions | Business Services | Energy Services | Investments | Corporate | Total (3) | Q3 YTD 2025 | Building Solutions | Business Services | Energy Services | Investments | Corporate | Total (3) | ||
Revenue | $ 42.6 | $ 105.2 | $ 11.1 | $ 0.5 | $ (0.5) $ | 158.9 | Revenue | $ 9.6 | $ 104.4 | $ 1.3 | $ 0.1 | $ (0.1) $ | 115.4 | ||
Gross profit (1) | $ 8.1 | $ 53.4 | $ 5.2 | $ 0.3 | $ (0.5) $ | 66.6 | Gross profit (1) | $ 1.7 | $ 53.7 | $ 0.3 | $ - | $ (0.1) $ | 55.7 | ||
Net income (loss) attributable to common | Net income (loss) attributable to common | ||||||||||||||
shareholders | $ (2.3) $ | (1.8) $ | 1.7 | $ 0.8 | $ (7.4) $ | (9.0) | shareholders | $ 0.3 | $ (0.5) $ | (0.1) $ | 0.1 | $ (4.1) $ | (4.3) | ||
Dividends on Series A perpetual preferred stock | - | - | - | - | 1.8 | 1.8 | Dividends on Series A perpetual preferred stock | - | - | - | - | 0.1 | 0.1 | ||
Net income (loss) | (2.3) | (1.8) | 1.7 | 0.8 | (5.6) | (7.2) | Net income (loss) | 0.3 | (0.5) | (0.1) | 0.1 | (4.1) | (4.2) | ||
Provision from income taxes | - | (0.3) | - | - | 0.2 | - | Provision for income taxes | - | 0.5 | - | - | 0.2 | 0.6 | ||
Interest (income) expense, net | 0.4 | 0.5 | 0.1 | (0.6) | (0.4) | - | Interest (income) expense, net | 0.1 | 0.4 | - | (0.1) | (0.6) | (0.2) | ||
Total depreciation and amortization | 0.8 | 0.6 | 1.1 | 0.2 | - | 2.8 | Total depreciation and amortization | 0.1 | 0.9 | 0.2 | - | - | 1.2 | ||
EBITDA (loss) (2) | (1.1) | (0.9) | 2.9 | 0.4 | (5.8) | (4.5) | EBITDA (loss) (2) | 0.5 | 1.3 | 0.1 | - | (4.5) | (2.6) | ||
Foreign currency (gain) loss | - | 0.2 | - | - | - | 0.2 | Foreign currency (gain) loss | - | 0.2 | - | - | - | 0.2 | ||
Corporate administrative charges | 1.2 | 0.7 | 0.2 | - | (2.1) | - | Corporate administrative charges | - | 0.9 | - | - | (0.9) | - | ||
Gains on sale and leaseback transactions | - | - | - | - | - | - | Other non-operating expense (income) | - | 0.1 | - | - | (0.1) | (0.1) | ||
Other non-operating expense (income) | - | 0.1 | - | 0.2 | - | 0.3 | Stock-based compensation expense | - | 0.6 | - | - | 0.4 | 1.0 | ||
Stock-based compensation expense | - | 0.6 | - | - | 1.3 | 2.0 | Interest income | - | - | - | 0.1 | - | 0.1 | ||
Interest income | - | - | - | 0.8 | - | 0.8 | Unrealized (gain) loss on equity | ||||||||
Unrealized (gain) loss on equity securities | - - | - | 0.4 | - | 0.4 | securities Severance / non-recurring salary | - - | - 0.8 | - - - - - - | - 0.8 | |||||
Severance / non-recurring salary | - 1.4 | 0.1 | - | 0.1 | 1.6 | Transaction costs related to mergers and | |||||||||
Transaction costs related to mergers and acquisitions | - | - | - | - | 0.8 | 0.8 | acquisitions Financing costs | - - | 0.2 - | - - | - - | 2.0 - | 2.1 - | ||
Financing costs | 0.1 | - | 0.1 | - | - | 0.1 | Other non-recurring expenses | 0.1 | 0.1 | - | - | 0.2 | 0.3 | ||
Other non-recurring expenses | - | 0.1 | - | - | 0.3 | 0.5 | Adjusted EBITDA (loss) (2)(4) | $ 0.6 | $ 4.1 | $ 0.1 | $ 0.2 | $ (3.0) $ | 2.0 | ||
Adjusted EBITDA (loss) (2)(4) | $ 0.3 | $ 2.3 | $ 3.3 | $ 1.7 | $ (5.4) $ | 2.1 | |||||||||
Adjusted Net Loss (1) Three Months Ended | Per Diluted Share (1) Three Months Ended |
September 30, 2026 | September 30, 2026 |
Net loss $ (1.6) | $ (0.43) |
Dividends on Series A perpetual preferred stock (0.6) | (0.17) |
Net loss attributable to common shareholders (2.2) | (0.60) |
Intangible amortization from acquisitions 0.2 | 0.05 |
Unrealized (gain) / loss on equity securities - | (0.01) |
Severance / non-recurring salary 0.3 | 0.09 |
Transaction costs related to mergers and acquisitions 0.7 | 0.18 |
Financing costs - | 0.01 |
Other non-recurring expenses - | 0.01 |
Adjusted net loss (2) $ (1.0) | $ (0.26) |
Adjusted Net Loss (1) Nine Months Ended | Per Diluted Share (1) Nine Months Ended |
September 30, 2026 | September 30, 2026 |
Net loss $ (7.2) | $ (1.95) |
Dividends on Series A perpetual preferred stock (1.8) | (0.49) |
Net loss attributable to common shareholders (9.0) | (2.43) |
Intangible amortization from acquisitions 0.5 | 0.13 |
Gains on sale and leaseback transactions - | (0.01) |
Unrealized (gain) loss on equity securities 0.4 | 0.09 |
Severance / non-recurring salary 1.6 | 0.44 |
Transaction costs related to mergers and acquisitions 0.8 | 0.20 |
Financing costs 0.1 | 0.04 |
Other non-recurring expenses 0.5 | 0.12 |
Adjusted net loss (2) $ (5.2) | $ (1.41) |
Adjusted Net Income (1) Three Months Ended | Per Diluted Share (1) Three Months Ended |
September 30, 2025 | September 30, 2025 |
Net loss $ (1.8) | $ (0.54) |
Dividends on Series A perpetual preferred stock (0.1) | (0.02) |
Net loss attributable to common shareholders (1.8) | (0.56) |
Intangible amortization from acquisitions 0.2 | 0.08 |
Unrealized (gain) loss on equity securities - | 0.01 |
Severance / non-recurring salary 0.3 | 0.09 |
Transaction costs related to mergers and acquisitions 1.3 | 0.38 |
Financing costs - | 0.01 |
Other non-recurring expenses 0.3 | 0.08 |
Adjusted net income (2) $ 0.3 | $ 0.08 |
Adjusted Net Loss (1) Nine Months Ended | Per Diluted Share (1) Nine Months Ended |
September 30, 2025 | September 30, 2025 |
Net loss $ (4.2) | $ (1.37) |
Dividends on Series A perpetual preferred stock (0.1) | (0.02) |
Net loss attributable to common shareholders (4.3) | (1.39) |
Intangible amortization from acquisitions 0.7 | 0.23 |
Unrealized (gain) loss on equity securities - | 0.01 |
Severance / non-recurring salary 0.8 | 0.25 |
Transaction costs related to mergers and acquisitions 2.1 | 0.69 |
Financing costs - | 0.01 |
Other non-recurring expenses 0.3 | 0.10 |
Adjusted net loss (2) $ (0.3) | $ (0.10) |
(1) Amounts may not sum due to rounding.
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(2) Adjusted net income or loss per diluted share is a Non-GAAP measure defined as reported net income or loss per diluted share before items such as acquisition-related costs and non-recurring severance and professional fees after tax that is presented to provide additional information about the company's operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. Adjusted net income or loss per diluted share should not be considered in isolation or as a substitute for net income or loss per diluted share and other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the company's profitability or liquidity. Further, Adjusted net income or loss per diluted share as presented above may not be comparable with similarly titled measures reported by other companies.
Reconciliation of Pro Forma (1) Non-GAAP Financial Measures Q3 2025Pro Forma Q3 2025 | Building Solutions | Business Services | Energy Services | Investments | Corporate | Total (3) |
Pro forma revenue (1) | $ 21.4 | $ 37.0 | $ 3.7 | 0.2 | (0.2) | 62.1 |
Pro forma gross profit (1) | $ 5.3 | $ 18.6 | $ 1.5 | 0.1 | (0.2) | 25.4 |
Pro forma net income (loss) attributable to common shareholders (1) | $ 1.7 | $ 0.3 | $ 0.5 | 0.2 | (5.3) | (2.5) |
Dividends on Series A perpetual preferred stock | - | - | - | - | 0.7 | 0.7 |
Pro forma net income (loss) | 1.7 | 0.3 | 0.5 | 0.2 | (4.6) | (1.9) |
Provision from income taxes | - | - | - | - | 0.2 | 0.2 |
Interest (income) expense, net | 0.2 | 0.1 | 0.1 | (0.2) | (0.2) | - |
Total depreciation and amortization | 0.6 | 0.4 | 0.4 | 0.1 | - | 1.4 |
Pro forma EBITDA (loss) (2) | 2.5 | 0.8 | 1.0 | 0.1 | (4.5) | (0.1) |
Foreign currency (gain) loss | - | (0.1) | - | - | - | (0.1) |
Corporate administrative charges | - | 0.2 | - | - | (0.2) | - |
Other non-operating expense (income) | - | - | - | - | - | - |
Stock-based compensation expense | - | 0.2 | - | - | 0.2 | 0.4 |
Interest income (3) | - | - | - | 0.3 | - | 0.3 |
Unrealized (gain) loss on equity securities | - | - | - | (0.3) | - | (0.3) |
Severance / non-recurring salary | - | 0.3 | - | - | - | 0.3 |
Transaction costs related to mergers and acquisitions | - | 0.2 | - | - | 2.0 | 2.2 |
Loss (gain) on equity method investment | - | - | - | 0.3 | - | 0.3 |
Financing costs | - | - | - | - | - | - |
Other non-recurring expenses | 0.1 | - | - | - | (0.1) | - |
Pro forma adjusted EBITDA (loss) (2) | $ 2.6 | $ 1.7 | $ 1.0 | 0.4 | (2.6) | 3.1 |
Pro forma net income (3) Dividends on Series A perpetual preferred stock Pro forma net income attributable to common shareholders (3) Intangible amortization from acquisitions Unrealized (gain) loss on equity securities Severance / non-recurring salary Transaction costs related to mergers and acquisitions Loss (gain) on equity method investment Financing costs Other non-recurring expenses Pro forma adjusted net income (2)(3) | Pro Forma Adjusted Pro Forma Per Net Income (3) Diluted Share (3) Quarter Ended Quarter Ended |
September 30, 2025 September 30, 2025 | |
$ (1.9) $ (0.50) (0.7) (0.18) | |
(2.5) (0.69) 0.7 0.18 (0.3) (0.07) 0.3 0.08 2.2 0.60 0.3 0.07 - 0.01 - 0.01 | |
$ 0.7 $ 0.18 |
(1) Pro forma Building Solutions, Energy Services, and Investments results for the full third quarter of 2025.
(2) EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation and amortization. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation and amortization, non-operating income, stock-based compensation expense, and other items such as non-recurring severance and professional fees.
(3) Amounts may not sum due to rounding.
(4) Adjusted net income or loss per diluted share is a Non-GAAP measure defined as reported net income or loss per diluted share before items such as acquisition-related costs and non-recurring severance and professional fees after tax that is presented to provide additional information about the company's operations on a basis consistent with the measures which the company uses to manage its operations and evaluate its performance. Management also uses these measurements to evaluate capital needs and working capital requirements. Adjusted net income or loss per diluted share should not be considered in isolation or as a substitute for net income or loss per diluted share and other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the company's profitability or liquidity. Further, Adjusted net income or loss per diluted share as presented above may not be comparable with similarly titled measures reported by other companies.
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