Onterris Inc. reported second-quarter results that missed expectations, slashed its full-year 2026 guidance, and adopted a one-year poison pill while launching a strategic review of the business. Revenue fell to $186.7 million from $234.5 million a year earlier, and net income dropped to $1.4 million, or $0.04 per share, from $18.4 million, or $0.42 per share. The company cut its full-year revenue guidance to $740 million to $790 million from $840 million to $900 million, and trimmed EBITDA guidance to $117 million to $120 million from $125 million to $130 million, citing a historically quiet period for environmental emergency response work. Despite the lower revenue outlook, Onterris maintained its operating cash flow guidance, expecting to convert 60% of EBITDA into cash and generate $70 million to $80 million in the second half of 2026. The board adopted the poison pill in response to what it called significant and undisclosed accumulation of its shares, and the strategic review has no stated timetable. Hedge fund ownership slipped to 14 funds from 16, while short interest stands at 10.22% of the float.
OnterrisMissed Q2 results, slashed FY2026 guidance, and adopted poison pill amid strategic review.
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