---
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"
generated_at: "2026-06-22T02:15:09.698008+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Team Inc Q3 revenue up 10%, posts $10.6M adj EBITDA; sells Quest Integrity for $279M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318833-22-000097
- JSON: https://secwatch.observer/filing/0000318833-22-000097.json
- Plain text: https://secwatch.observer/filing/0000318833-22-000097.txt

## Key facts
- Earnings Releases
  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.
  - Period: third quarter ended September 30, 2022
  - Revenue: $218.3 million
  - Net income: $26.6 million
  - EPS: $0.62 loss per share
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/318833/000031883322000097/0000318833-22-000097-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.