secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001193125-23-070283
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Team Inc. files pro forma financials reflecting sale of TQ Acquisition to Baker Hughes
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- Pro forma 2022 revenues of $840.2M versus $941.6M historical, excluding TQ Acquisition.
- Pro forma income from continuing operations of $82.6M vs. historical loss of $133.3M; includes $202.2M gain on sale.
- Pro forma diluted EPS of $19.73 vs. historical $16.74 (including discontinued ops).
- Transaction closed Nov 1, 2022; pro forma assumes Jan 1, 2022 effective date.
- Pro forma adjustments include debt paydown ($36.8M interest reduction) and $34.1M write-off of debt costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000119312523070283/0001193125-23-070283-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000119312523070283/d334201d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-070283

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