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 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.
Team, Inc. (NYSE: TISI) has released its first Environmental, Social and Governance (ESG) Report, covering the year 2019. The report showcases the company’s commitment to environmental stewardship, safety, and community engagement. Key achievements include a reduction of over 1.1 million metric tons in greenhouse gas emissions since 2015 and record safety performance. The company plans to issue full ESG reports every two years and provide annual updates on key metrics. This initiative aligns with their strategy for sustainable growth and stakeholder value.
Team, Inc. (NYSE: TISI), based in Sugar Land, Texas, will present at the Baird 50th Annual Global Industrial Conference on Nov. 10, 2020, at 10:50 a.m. ET. The presentation will be conducted by Amerino Gatti, CEO, and Susan Ball, CFO, who will provide an overview of the company and host one-on-one virtual meetings. Team, Inc. specializes in integrated asset performance assurance and optimization solutions, promoting safety and efficiency for clients globally through various inspection and maintenance services.
Team, Inc. (NYSE: TISI) will release its third quarter 2020 results after market close on November 4, 2020. Following this, a conference call is scheduled for November 5 at 10:00 a.m. ET. Investors can join the call via phone or webcast, and a replay will be available shortly after. Team, Inc. specializes in asset performance assurance solutions across over 20 countries, focusing on enhancing safety and operational efficiency for critical assets. For details, visit www.teaminc.com.
On September 17, 2020, Team, Inc. (NYSE: TISI) announced participation in two upcoming virtual investor conferences. Amerino Gatti, Chairman & CEO, along with Susan Ball, CFO, will engage in the D.A. Davison 19th Annual Diversified Industrials & Services Virtual Conference on September 22, followed by the Sidoti Fall 2020 Virtual Investor Conference on September 24 at 9:15 a.m. Eastern Time. Team, Inc., headquartered in Sugar Land, Texas, specializes in asset performance assurance and optimization solutions across over 20 countries.