Welcome to our dedicated page for Team news (Ticker: TISI), a resource for investors and traders seeking the latest updates and insights on Team stock.
Team, Inc. reports developments for its specialty industrial services business, which provides inspection, heat-treating and mechanical services for process, pipeline, power, refining and petrochemical customers. Company news centers on quarterly and annual operating results, revenue trends, gross margin, Adjusted EBITDA, cash flow and the performance of its inspection, heat-treating and mechanical service offerings.
Recurring updates also cover capital-structure actions, including completed preferred stock and warrant financing, amendments to credit facilities, and board or executive governance changes. TEAM’s releases commonly announce earnings timing and conference calls alongside financial results and operational commentary.
Team, Inc. (TISI) reported Q1 2020 results, revealing a revenue drop of 12.2% to $236.8 million, impacted by COVID-19 and commodity price volatility. The company incurred a non-cash goodwill impairment charge of $191.8 million, leading to a consolidated net loss of $199.7 million ($6.54 per diluted share). However, operational savings of over $5 million were realized, and the OneTEAM program is expected to generate $20-25 million in Q2 savings. SG&A expenses decreased by $3.8 million, and the credit facility has been amended for flexibility and liquidity through January 2022.
Team, Inc. (NYSE: TISI) will release its first quarter 2020 results on June 17, 2020, after market close, followed by a conference call on June 18 at 10:00 a.m. ET. Investors can listen via phone or webcast. The company, headquartered in Sugar Land, Texas, offers integrated asset performance assurance and optimization solutions globally. With a presence in over 20 countries, Team, Inc. focuses on improving safety, reliability, and efficiency for critical assets.