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. (NYSE: TISI) reported its Q2 2024 financial results, showing improved profitability despite lower revenues. Key highlights include:
- Revenue of $228.6 million, down 4.5% year-over-year
- Gross margin improved by 240 basis points to 27.8%
- Net loss reduced to $2.8 million, a $13 million improvement
- Adjusted EBITDA increased 25% to $21.8 million (9.5% of revenue)
- SG&A expenses reduced by $3.9 million or 7%
The company reiterated its 2024 full-year guidance, projecting revenue of $850-900 million and Adjusted EBITDA of $58-68 million. Team, Inc. continues to focus on cost discipline, operational execution, and targeted commercial initiatives to drive growth in core markets and expand into aerospace and midstream sectors.
Team, Inc. (NYSE: TISI), a global provider of specialty industrial services, has announced the timing for its second quarter 2024 earnings release and conference call. The company will issue its earnings release on Thursday, August 8, 2024, after the New York Stock Exchange closes. A conference call to discuss financial and operational results is scheduled for Friday, August 9, 2024, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
Interested parties can participate in the call toll-free by dialing (877) 270-2148 in the United States or (412) 902-6510 internationally. The call will also be webcast on TEAM's website, with an audio replay available afterward.
Team, a leading provider of specialty industrial services, has released an updated investor presentation on its website. The presentation, discussed by CEO Keith Tucker and CFO Nelson Haight, outlines the company's strategic vision, operational capabilities, and recent results. Tucker emphasized the belief in the company's potential and talented workforce. Investors are encouraged to view the presentation and listen to the accompanying discussion that highlights key points.
Team (NYSE: TISI) reported its Q1 2024 financial results. Revenue was $199.6M, down from $202.3M the previous year. Despite this, the gross margin improved to 24.4%. The net loss was reduced to $17.2M, a $7.5M improvement from Q1 2023. Adjusted EBITDA grew by 54.7% to $6.5M.
Notable achievements include a $19.6M increase in cash flow from operations and a reduction in adjusted SG&A expenses by $0.8M. The company also completed a commercial review and set a revenue growth plan, projecting full-year Adjusted EBITDA of $58M-$68M. Challenges included revenue declines in Inspection and Heat Treating services and Mechanical Services.
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