Team Inc Stock Price, News & Analysis

Team, Inc. (NYSE: TISI) announced that its CEO, Amerino Gatti, and CFO, Susan Ball, will present at the Sidoti Spring 2021 Virtual Investor Conference on March 24, 2021, at 11:30 a.m. Eastern Time. The presentation will provide an overview of the company, which specializes in asset performance assurance and optimization solutions. TEAM operates in over 20 countries and focuses on enhancing safety, reliability, and operational efficiency for critical assets.

Team, Inc. (NYSE: TISI), a leader in asset performance solutions, announced participation in the Scotia Howard Weil 49th Annual Energy Conference on March 23, 2021. CEO Amerino Gatti and CFO Susan Ball will host virtual one-on-one meetings during the event. Team, Inc., headquartered in Sugar Land, Texas, delivers integrated, digitally-enabled optimization solutions across more than 20 countries.

Team, Inc. (NYSE: TISI) announced its participation in the Simmons Energy 21st Annual Energy Conference, scheduled for March 22, 2021. Chairman & CEO Amerino Gatti and EVP & CFO Susan Ball will attend, hosting virtual meetings throughout the day. Team, headquartered in Sugar Land, Texas, is a global leader in asset performance assurance and optimization solutions, offering specialized inspection and maintenance services across more than 20 countries. Their focus is on enhancing safety, reliability, and operational efficiency for critical assets.

Team, Inc. (NYSE: TISI) reported a challenging financial performance for Q4 and the full year 2020, with a consolidated net loss of $14.9 million in Q4, worsening from a $7.2 million loss in Q4 2019. Full-year revenues dropped 26.5% to $852.5 million, with a net loss of $237.2 million, significantly impacted by a $191.8 million goodwill impairment. Despite these challenges, the company achieved $110 million in total cost savings and generated $32.8 million in free cash flow, the highest since 2016. Looking ahead, the company anticipates improved revenue in 2021 with the recovery from COVID-19.

Team, Inc. (TISI) will announce its fourth quarter and full year 2020 results on March 9, 2021, after market close. A conference call will follow on March 10, 2021, at 10:00 a.m. ET. Interested participants can join by phone or via webcast on Team's investor relations website. The company, based in Sugar Land, Texas, specializes in asset performance assurance and optimization solutions, enhancing safety and operational efficiency across over 20 countries. For further details, visit www.teaminc.com.

Team, Inc. (NYSE: TISI) announced a strategic reorganization aimed at enhancing operational performance and client value. The structure comprises three groups: Inspection & Heat Treating (IHT), Mechanical & Onstream Services (MOS), and Asset Integrity & Digital (AID). The reorganization follows a significant cost reduction of over $85 million annually and aims to leverage technological advancements. New leadership appointments focus on improving service offerings and aligning sales with client needs as the company prepares for market recovery.

Team, Inc. (NYSE: TISI), a top provider of asset performance solutions, announced that its CEO, Amerino Gatti, and CFO, Susan Ball, will present at the CJS Securities 21st Annual New Ideas for the New Year Investor Conference on January 13, 2021, at 11 a.m. Eastern Time. The presentation will include an overview of the company's services, which enhance safety, reliability, and operational efficiency across critical assets globally. One-on-one meetings will also be held following the presentation.

TEAM, Inc. (NYSE: TISI) has secured a $250 million Senior Secured Term Loan due 2026 and a $150 million ABL Credit Facility due 2024. These transactions aim to optimize the company's capital structure and enhance liquidity. Additionally, TEAM will repurchase approximately $137 million of Convertible Senior Notes. The refinancing facilitates the retirement of existing credit facilities, eliminating several maintenance covenants, and positions the company for growth despite economic uncertainties.

Team, Inc. (TISI) reported Q3 2020 results, revealing a consolidated net loss of $9.1 million, worsening from a $7.1 million loss in Q3 2019. Revenue dropped to $219.1 million, a 24.5% decline year-over-year, largely due to COVID-19 impacts and weather-related disruptions. Despite challenges, gross margin improved to 29.1%. The company achieved $35 million in cost reductions and expects total savings of $85-95 million for the year. Looking ahead, Team anticipates revenue growth in Q4, driven by deferred projects and an uptick in business calls.