Company Reports Q4 Revenue of $669M, Below Expectations
Reports Q4 revenue $669M, consensus $678.16M. CEO Rod Larson commented, "Our team concluded 2025 with strong operational execution, delivering Q4 adjusted EBITDA at the high end of our guidance range. We generated robust free cash flow of $191M, driven primarily by the timing of customer collections. As expected, revenue and adjusted EBITDA declined compared to Q4 of 2024 due to the unusually high level of international intervention and installation projects in our Offshore Projects Group segment in the prior year. For the full year, we delivered solid financial results despite a challenging environment. Consolidated revenue and adjusted EBITDA both increased, making 2025 our seventh consecutive year of adjusted EBITDA growth...Looking ahead to 2026, we expect ADTech to be our primary growth engine, supported by our existing backlog and increased spending across defense and government markets. We anticipate results in our energy-focused businesses to be weighted towards the second half of the year as offshore activity improves. Based on these market dynamics and our current backlog, we are issuing our full year 2026 guidance."
