{"schema_version":"secwatch.filing_event.v1","accession":"0000318833-22-000097","form_type":"8-K","ticker":"TISI","cik":"0000318833","company_name":"TEAM INC","filed_at":"2022-11-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.147928+00:00","generated_at":"2026-06-22T02:15:09.698008+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Team Inc Q3 revenue up 10%, posts $10.6M adj EBITDA; sells Quest Integrity for $279M","bullets":["Q3 revenue $218.3M (+10% YoY); gross margin 25.7% vs 22.5%.","GAAP net loss from cont ops $26.6M ($0.62/share); adj EBITDA $10.6M vs -$1.3M YoY.","Sold Quest Integrity to Baker Hughes for ~$279M cash on Nov 1; senior term loan reduced to $36M.","Liquidity improved to ~$83M; gross debt down ~47% after sale.","Additional cost reductions actioned in Oct; expects further margin improvement in Q4 and 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0000318833-22-000097","json":"https://secwatch.observer/filing/0000318833-22-000097.json","markdown":"https://secwatch.observer/filing/0000318833-22-000097.md","text":"https://secwatch.observer/filing/0000318833-22-000097.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/318833/000031883322000097/0000318833-22-000097-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/318833/000031883322000097/tisi-20221108.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T02:15:09.698008+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"22c4b871baaeacef7c3887b65f7a049ebee3ce5b","claim":"TEAM INC reported third quarter ended September 30, 2022 results: revenue $218.3 million, net income $26.6 million, EPS $0.62 loss per share.","evidence_excerpt":"the sale, the operating results of Quest Integrity have been reclassified to discontinued operations for periods presented. • Increased third quarter 2022 revenues by 10% to $218.3 million compared to the third quarter of 2021. • Grew gross margin by 26% to $56.0 million (25.7% of revenues), from $44.5 million (22.5% of revenues) in the third quarter of 2021. •","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/318833/000031883322000097/0000318833-22-000097-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended September 30, 2022"},{"label":"Revenue","value":"$218.3 million"},{"label":"Net income","value":"$26.6 million"},{"label":"EPS","value":"$0.62 loss per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}