TEAM Q4 revenue up 4% to $211M; Adj. EBITDA turns positive to $6.7M

TEAM INC

Q4 revenue $211.3M (+4.0% YoY); gross margin 24.8% vs 22.1% prior year.
Q4 net loss from continuing ops $56.9M includes $30.1M loss on debt extinguishment.
Q4 Adjusted EBITDA improved to $6.7M from negative $1.6M in Q4 2021.
Full year 2022 revenue $840.2M (+5.8%); net loss $150.1M vs $184.8M loss in 2021.
Net debt reduced to $227.9M from $350.7M; liquidity $103.5M after Quest sale.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TEAM INC reported the fourth quarter and the year ended December 31, 2022 results: revenue $211.3 million, net income net loss from continuing operations of $56.9 million, EPS $13.15 loss per share.

Period: the fourth quarter and the year ended December 31, 2022
Revenue: $211.3 million
Net income: net loss from continuing operations of $56.9 million
EPS: $13.15 loss per share
Result: reported results

Exact text from the filing

today reported its financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Highlights 1 : • Increased fourth quarter 2022 revenues to $211.3 million, up $8 million over the 2021 fourth quarter. • Improved fourth quarter 2022 gross margin by 270 basis points to 24.8% of revenue, up from 22.1% in the 2021 fourth quarter. •

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Source: SEC EDGAR

accession 0000318833-23-000003

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