Team, Inc. Q3 2023 revenue $206.7M, net loss narrows 54% YoY to $12.1M

TEAM INC

2024-Q3 EPS reported -$12.07 revenue$648,484,000

Revenue $206.7M; gross margin 25.5% ($52.8M).
Net loss from continuing ops $12.1M vs $26.6M YoY, a 54.4% improvement.
Consolidated Adjusted EBITDA $11.1M (5.4% of revenue), up from $10.6M.
SG&A reduced 7.6% ($3.7M) vs prior-year period.
Repaid remaining $41.2M of convertible notes with June 2023 refinancing proceeds.

item 2.02 item 9.01

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 third quarter ended September 30, 2023 results: revenue $206.7 million, net income $12.1 million.

Period: the third quarter ended September 30, 2023
Revenue: $206.7 million
Net income: $12.1 million
Result: reported results

Exact text from the filing

Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights 1 : • Reported total revenues of $206.7 million. • Grew gross margin to 25.5% of revenue or $52.8 million. • Decreased net loss from continuing operations to $12.1 million, a 54.4% improvement over the 2022 third quarter net loss from continuing operations of $26.6 million.

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TEAM INC filing history →

Source: SEC EDGAR

accession 0000318833-23-000049

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