Team Inc Stock Price, News & Analysis

Team, Inc. (NYSE: TISI), a leader in asset performance assurance, will present at the Sidoti Fall 2021 Virtual Investor Conference on September 23, 2021. CEO Amerino Gatti and CFO Susan Ball will deliver a company overview at 11:00 a.m. Eastern Time and conduct virtual one-on-one meetings throughout the day. Headquartered in Sugar Land, Texas, Team, Inc. specializes in digitally-enabled solutions for asset optimization, offering services globally across 20+ countries. For additional details, visit www.teaminc.com.

Team, Inc. (NYSE: TISI) has appointed Candice Koederitz to its Board of Directors, effective August 9, 2021. With over 30 years at Morgan Stanley, including leadership roles in capital markets and regulatory implementation, Ms. Koederitz enhances the board's expertise. Amerino Gatti, CEO, expressed enthusiasm for her insights during a time of emerging opportunities. Koederitz currently serves on other boards, including Vintage Wine Estates (NASDAQ: VWE). This appointment reflects Team's commitment to broadening its leadership capabilities to navigate dynamic market conditions.

Team, Inc. (TISI) reported second quarter 2021 revenue of $238.9 million, a 26.2% increase from Q2 2020, driven by significant growth in its IHT and Quest segments, which rose by 46.0% and 51.4%, respectively. However, the company faced a net loss of $17.5 million, compared to $13.5 million in the previous year. Gross margin declined to 26.3% due to inflation and COVID-related pricing issues. Despite challenges, the company remains optimistic about future revenue growth amidst ongoing economic recovery efforts.

On August 3, 2021, Team, Inc. (TISI) announced the commercial launch of its new SmartStop™ Isolation Technology. This innovative system improves safety and productivity for hot tapping and line intervention applications. The technology features a dual seal system that minimizes pipe alterations and enhances isolation integrity. TEAM aims to reduce execution times and costs for clients while strengthening its position in the industry. The rollout of this proprietary technology has already begun in the United States.

Team, Inc. (NYSE: TISI) has announced a strategic agreement to become the exclusive provider of the Credosoft Integrity Management Platform in North America. This partnership is expected to enhance TEAM's capabilities in asset performance, compliance, inspection, and repair solutions. The Credosoft platform is cloud-based, supports a variety of clients, and offers a stable, subscription-based revenue model. According to TEAM's President, this move aligns with their strategy to optimize client asset performance, while Credosoft's CEO emphasized TEAM's ideal qualifications for this partnership.

Team, Inc. (NYSE: TISI) will release its second quarter 2021 results after the market closes on August 3, 2021. A conference call is scheduled for August 4, 2021, at 10:00 a.m. ET to discuss these results. Investors can join the call by phone or via webcast on Team's website. This call marks an important opportunity for investors to gain insights into Team’s performance and outlook.

Team, Inc. (NYSE: TISI), a leading provider of asset performance solutions, announced participation in the CJS Securities 21st Annual New Ideas Summer Conference on July 13, 2021. CEO Amerino Gatti and CFO Susan Ball will engage in virtual one-on-one meetings throughout the event, emphasizing the company's commitment to safety, reliability, and operational efficiency. With a presence in over 20 countries, Team, Inc. combines technological innovation with a century of management expertise to enhance performance solutions for critical assets.

Team, Inc. (NYSE: TISI), a leader in integrated asset performance solutions, announced participation in two upcoming investor conferences. On June 3, the company will attend the KeyBanc Capital Markets 2021 Industrials & Basic Materials Virtual Conference, hosting virtual one-on-one meetings. The following week, on June 8, Team, Inc. will present at the Stifel 2021 Virtual Cross Sector Insight Conference at 11:20 a.m. ET, along with additional one-on-one meetings.

Team, Inc. (TISI) reported a significant decline in Q1 2021 revenue, totaling $194.6 million, down 17.8% year-over-year. Gross margin fell to 22.5% from 24.3% in Q1 2020. The company incurred a net loss of $34.3 million (or $1.11 per diluted share), although this was an improvement compared to a loss of $199.7 million in the same period last year. Despite challenges from winter storms and the pandemic, cost management efforts led to a 15.7% reduction in SG&A expenses. March showed increased activity levels as operations normalized, bolstering a positive outlook for 2021.