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. (NYSE: TISI) is a leading industrial services company headquartered in Sugar Land, Texas. The company specializes in the construction, maintenance, and monitoring of pressurized piping and associated systems, serving industries such as refining, petrochemical, power, pipeline, and other heavy industries. With over 140 U.S. and international locations spanning five continents, Team, Inc. is rapidly expanding its global footprint.
The company's expertise is structured into two primary segments: the Inspection and Heat Treating Group and the Mechanical Services Group. The Inspection and Heat Treating Group offers non-destructive testing services for sectors like process, pipeline, and power. This segment ensures the safety and efficiency of critical assets through advanced inspection techniques and heat treatment methods. The Mechanical Services Group provides both call-out and turnaround services under on-stream and shutdown conditions, focusing on the maintenance and repair of high-temperature and high-pressure piping systems and vessels.
Recent achievements include the repayment of convertible notes on August 1, 2023, bolstering the company’s liquidity to $54.7 million, comprising $21.3 million in cash and equivalents, and $33.4 million of undrawn availability under various credit facilities. Despite recent economic recessions, Team's revenues have grown at a compound annual rate of over 20% over the past decade, earning recognition from Forbes and Fortune magazines as one of the top small and rapidly growing companies.
Team, Inc. is committed to maintaining its NYSE listing and is actively taking steps to ensure compliance with listing standards. The company is known for its forward-looking statements, which are made in accordance with the Private Securities Litigation Reform Act of 1995. These statements include projections about financial prospects, cost-saving measures, and operational efficiencies. However, they are subject to numerous risks and uncertainties that could cause actual results to differ materially.
For more information, please visit www.teaminc.com or contact Nelson M. Haight, Executive Vice President, Chief Financial Officer, at (281) 388-5521.
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.
Team, Inc. (NYSE: TISI) announced it will release its first quarter 2021 results after market close on May 4, 2021. A conference call to discuss these results is scheduled for May 5, 2021, at 10:00 a.m. ET. Interested parties can join the call by phone or webcast, with a replay available until May 12, 2021. Team, Inc. is a global provider of asset performance assurance solutions, offering maintenance and repair services across over 20 countries to enhance safety and operational efficiency for critical assets.
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.
FAQ
What is the current stock price of Team (TISI)?
What is the market cap of Team (TISI)?
What services does Team, Inc. offer?
In which industries does Team, Inc. operate?
What are the core segments of Team, Inc.?
Where is Team, Inc. headquartered?
How has Team, Inc. performed financially over the past decade?
How is Team, Inc. ensuring its compliance with NYSE listing standards?
What was Team, Inc.’s liquidity status as of August 8, 2023?
Who can I contact for more information about Team, Inc.?
What are the risks associated with Team, Inc.’s forward-looking statements?
Where can I find more information about Team, Inc.?
