Gotrade News - Earnings season brought early 2027 guidance from three small and mid-cap US companies. Legence (LGN) set 2027 revenue at $5.3 billion to $5.6 billion on Thursday after a record third quarter, according to its earnings release, while Grindr (GRND) and Oceaneering (OII) issued initial 2027 outlooks.
Grindr said in its November 5 release that it was "providing our initial outlook a quarter earlier than usual." Oceaneering set its 2027 range on October 21 and, per its third-quarter release, will give more specific guidance with its fourth-quarter results.
The scorecard below draws on each company's third-quarter earnings report filed with the SEC. Growth rates are as the companies reported them.
| Company | Q3 2026 revenue | Q3 2026 adjusted EBITDA | 2027 guidance | Released |
|---|
| Legence (LGN) | $1.31 billion, up 85.1% | $177.0 million, vs $88.8 million | Revenue $5.3B to $5.6B; adjusted EBITDA $690M to $730M | Nov 12, 2026 |
| Grindr (GRND) | $141.4 million, up 22% | $61.7 million, vs $54.8 million | Revenue at least $705M; adjusted EBITDA at least $275M | Nov 5, 2026 |
| Oceaneering (OII) | $785 million, up 6% | $119.4 million, vs $111.1 million | Consolidated EBITDA $430M to $480M | Oct 21, 2026 |
LGN, GRND and OII Market Data
| Ticker | Close | Daily change |
|---|
| LGN | $36.27 | -2.21% |
| GRND | $14.44 | +2.78% |
| OII | $34.78 | -0.97% |
Regular-session close on November 12, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com.
Legence Guides 2027 Revenue to $5.3 Billion to $5.6 Billion
Legence's third-quarter revenue of $1.31 billion and adjusted EBITDA of $177.0 million both came in above the ranges of $1.225 billion to $1.275 billion and $150 million to $160 million that the company set in its August 13 release. Net income attributable to Legence was $89.6 million, or $1.15 in diluted earnings per share, against a net loss of $0.6 million a year earlier, per the third-quarter release.
Backlog and awarded contracts reached a record $5.90 billion, up 92.5% from $3.07 billion. The company tied its Installation & Maintenance revenue growth to demand "primarily from data centers & technology clients," and said revenue excluding its Bowers acquisition, a non-GAAP measure, grew 40%.
Legence raised its 2026 revenue guidance to $4.87 billion to $4.91 billion, from $4.70 billion to $4.80 billion, and adjusted EBITDA guidance to $610 million to $620 million, from $565 million to $585 million.
For the fourth quarter it expects revenue of $1.26 billion to $1.30 billion and adjusted EBITDA of $160 million to $170 million. Its 2027 range calls for adjusted EBITDA of $690 million to $730 million.
The board authorized a $150 million share repurchase program in early November; the company is not required to buy any specific number of shares and can suspend or end the program at any time.
Legence also completed its acquisition of Central Texas Industrial Contractors on November 1, an Austin-based mechanical contractor with a strong presence in the central Texas semiconductor market, and expects to record about $6 million to $8 million of its revenue in the fourth quarter.
"Our confidence in the fundamentals of our business is reflected in our increased guidance for this year, and growth embedded in our initial 2027 guidance," said Jeff Sprau, Chief Executive Officer of Legence.
Grindr Sets 2027 Revenue Floor of $705 Million
Grindr's third-quarter revenue rose 22% to $141.4 million, and adjusted EBITDA was $61.7 million, compared with $54.8 million a year earlier, according to the company's release. Its adjusted EBITDA margin was 43.7%, down from 47.4%, and it posted a net loss of $6.6 million against net income of $30.8 million in the third quarter of 2025.
The company raised its full-year 2026 expectations to $560 million in revenue and $236 million in adjusted EBITDA. For 2027 it expects revenue of at least $705 million and adjusted EBITDA of at least $275 million. Chairman and CEO George Arison called the period "another outstanding quarter for Grindr, with user engagement remaining strong," in the company's own words.
Oceaneering Initiates 2027 EBITDA Range of $430 Million to $480 Million
Oceaneering reported third-quarter revenue of $785 million, up 6%, and adjusted EBITDA of $119.4 million, up 7%, according to its October 21 release. Net income attributable to the company fell 26% to $52.6 million, and diluted earnings per share were $0.52, down from $0.71.
The company guided fourth-quarter consolidated EBITDA of $85 million to $95 million and expects 2027 consolidated EBITDA of $430 million to $480 million, with free cash flow above its 2026 estimate of $100 million to $120 million.
It repurchased 101,038 shares for about $5.0 million during the quarter and said share repurchase activity is expected to continue. President and CEO Rod Larson said the quarter's results "were in line with our guidance and consensus estimates."
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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