secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0000318833-24-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Team Inc. Q1 2024: Revenue $199.6M, net loss narrows to $17.2M, Adj. EBITDA rises 55%
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- Revenue $199.6M; net loss of $17.2M improved $7.5M YoY from $24.7M loss.
- Adjusted EBITDA grew 54.7% to $6.5M (3.3% of revenue) vs $4.2M (2.1%) in Q1 2023.
- Gross margin up 120 bps to 24.4%; adjusted SG&A reduced $0.8M YoY.
- Cash from operations turned positive at $1.9M, an improvement of $19.6M vs prior year.
- Full year 2024 Adj. EBITDA guidance set at $58M to $68M; commercial review completed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883324000034/0000318833-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883324000034/tisi-20240514.htm
  HTML page:      https://secwatch.observer/filing/0000318833-24-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer