NOV

Q2 FY2026 EarningsQ2 FY2026 results significantly exceeded consensus expectations across the board, with Diluted EPS of $0.31 vs. the $0.16 mid-point estimate. Revenue reached $2.13B, beating the $2.08B consensus by 2.38%, driven by execution in offshore production projects within the Energy Equipment segment. Despite a year-over-year revenue decline of 2%, adjusted EBITDA of $283M surpassed expectations, aided by a $40M one-time tariff refund. Third-quarter FY2026 guidance for Adjusted EBITDA of $240M-$270M remains constructive, though slightly below Q2 levels as one-time benefits normalize.