STRR · Star Equity Holdings, Inc.

Star Equity Holdings reported first quarter 2026 results with revenue surging 57.1% to $50.1 million, primarily from Business Services at $35.0 million (up 10%) and Energy Services at $3.5 million (up 35%), though Building Solutions declined 4% to $11.6 million due to startup delays, soft construction markets, and severe winter weather. Gross profit increased modestly 0.5% to $20.6 million, but profitability deteriorated with adjusted EBITDA loss expanding to $1.6 million from $0.7 million year-over-year, and GAAP net loss to common shareholders widening to $4.4 million or $1.17 per share from $1.8 million or $0.59. CEO Jeff Eberwein attributed weakness to seasonal factors and macro conditions impacting Building Solutions and Business Services, offset by Energy Services momentum in mining and geothermal. Hudson Talent Solutions (HTS) saw gross profit up 6.4% via AI-enhanced efficiency and accelerated new business/renewals. Corporate costs rose to $1.9 million but declined on a pro forma basis post-Merger synergies of $2.6 million annualized. Liquidity stood at $10.3 million cash, with $1.4 million operating cash use; the company repurchased $0.7 million in shares, leaving $1.8 million authorized. Management emphasized cost discipline, M&A evaluation, and operational improvements for improved results ahead, without specific guidance.