Team

Team, Inc. engages in the provision of digitally-enabled asset performance assurance and optimization solutions. It operates through the following segments: Inspection and Heat Treating (IHT), Mechanical Services (MS), and Quest Integrity. The Inspection and Heat Treating segment offers conventional and advanced non-destructive testing (NDT) heat treating and thermal services, tank management, and pipeline integrity solutions, as well as associated engineering and condition assessment services. The Mechanical Services segment covers machining, bolting, and vapor barrier weld testing, hot tap and line intervention, valve management solutions, and emission control services. The Quest Integrity segment focuses on integrity and reliability management solutions for the process, pipeline, and power sectors. The company was founded in 1973 and is headquartered in Sugar Land, TX.

Earnings data Q4 2023

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Second Quarter 2023 Revenue Increased $18.0 million or 8.1% Over Second Quarter 2022

Team, Inc. Reports Second Quarter 2023 Results

Simplifies Capital Structure and Extends Maturities SUGAR LAND, Texas, June 20, 2023 (GLOBE NEWSWIRE) -- 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 announced the successful closing of a series of previously announced refinancing transactions (the “Transactions”) that raised $87.4 million of new funding (approximately $82 million following deductions for transaction related fees and expenses and original issue discounts) and consisting of the following: A new $57.5 million, 12% senior secured first lien term loan provided by funds managed by Corre Partners Management, LLC (“Corre”) that matures in December 2026, and is comprised of a $37.5 million term loan tranche and a $20 million delayed draw term loan tranche (the “Corre Secured Term Loan”), and A new $27.4 million term loan secured by certain real estate and machinery and equipment of the Company provided by Eclipse Business Capital LLC (the “Eclipse Term Loan”), that matures in August 2025. The Company's existing revolving credit facility was also amended to extend the maturity date to August 2025, and to increase availability under the revolving credit facility by an additional $2.5 million.

Team, Inc. Announces Successful Closing of Refinancing Transactions

SUGAR LAND, Texas, May 30, 2023 (GLOBE NEWSWIRE) -- 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 announced that it has received formal notice from the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE's quantitative continued listing standards.

Team, Inc. Regains Compliance With NYSE Continued Listing Standards

Upon Completion, Transactions Will Provide Financial Flexibility and Extend Maturities SUGAR LAND, Texas, May 25, 2023 (GLOBE NEWSWIRE) -- 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 announced that it has secured committed financing from two of its largest current stakeholders for a series of transactions that, once completed, are expected to significantly improve its capital structure and extend maturities. TEAM entered into a commitment letter (the “Corre Commitment Letter”) with Corre Management Partners, LLC (“Corre”) for a new $57.5 million, 12% senior secured first lien term loan maturing in December 2026 and comprised of a $37.5 million term loan tranche and a $20 million delayed draw term loan tranche (the “Corre Secured Term Loan”), subject to certain closing conditions.

Team, Inc. Announces Commitment for Refinancing of Capital Structure

First Quarter 2023 Revenue Increased $13.2 million or 7.0% Over First Quarter 2022

Team, Inc. Reports First Quarter 2023 Results

Fourth Quarter 2022 Revenue Increased $8 million or 4.0% Over Fourth Quarter 2021

Team, Inc. Reports Fourth Quarter and Full Year 2022 Results

Amazon

BlackLine

Confluent

salesforce.com

CrowdStrike

Fortinet

Alphabet

GitLab

HashiCorp

MongoDB

monday.com

Microsoft

Cloudflare

Oracle

Palo Alto Networks

PagerDuty

Palantir Technologies

Snowflake

Workday

Zscaler

Best-of-breed cloud stocks to buy that can add rocket fuel to your long-term investing portfolio.

Top Stocks to Buy: Cloud Computing Breakdown

SUGAR LAND, Texas, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that, as a result of the previously announced reverse stock split of the outstanding shares of the Company's common stock, par value $0.30 per share (the “Common Stock”), at a ratio of one-for-ten (the “Reverse Stock Split”), effective at 5:00 p.m. Eastern Time on December 21, 2022, proportionate adjustments were made to the number of shares of Common Stock issuable upon exercise or conversion of the Company's outstanding warrants, equity awards and convertible securities, as well as the applicable exercise prices. Specifically, as a result of the Reverse Stock Split, pursuant to and in accordance with the indenture governing the Company's 5.00% Convertible Senior Notes due 2023 (the “Notes”), effective immediately after the opening of business on December 22, 2022, the conversion rate of the Notes was reduced from 46.0829 shares of Common Stock per $1,000 principal amount of Notes to 4.6083 shares of Common Stock per $1,000 principal amount of Notes.

Team, Inc. Announces Adjustment to Conversion Rate of 5.00% Convertible Senior Notes

SUGAR LAND, TX, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced a correction of its prior press releases “Team, Inc. Announces One-For-Ten Reverse Stock Split” issued on December 9, 2022, and its later press release “Team, Inc. Completes One-For-Ten Reverse Stock Split” issued on December 21, 2022.   Each press release incorrectly stated that each stockholder that otherwise would receive fractional shares would receive, in lieu of such fractional shares, cash in an amount determined on the basis of the closing price of the Common Stock on the NYSE on December 21, 2022. However, as approved by the Company's stockholders on November 8, 2022 and consistent with the Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company filed with the Delaware Secretary of State on December 21, 2022, each stockholder that otherwise would receive fractional shares will receive, in lieu of such fractional shares, cash in an amount equal to the proceeds attributable to the sale of such fractional interest following the aggregation and sale by Team's transfer agent of all fractional shares otherwise issuable.

Correction to Press Releases Announcing Team, Inc. One-For-Ten Reverse Stock Split and Completion of One-For-Ten Reverse Stock Split

SUGAR LAND, Texas, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that it has completed the previously announced reverse stock split of the outstanding shares of the Company's common stock, par value $0.30 per share (the “Common Stock”), at a ratio of one-for-ten (the “Reverse Stock Split”), effective at 5:00 p.m. Eastern Time today (the “Effective Time”). The Common Stock will begin trading on a split-adjusted basis at market open on December 22, 2022. Trading in the Common Stock will continue on the New York Stock Exchange (“NYSE”) under the symbol “TISI,” with a new CUSIP number (878155 308).

Team, Inc. Completes One-for-Ten Reverse Stock Split

SUGAR LAND, Texas, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that the Board of Directors of the Company (the “Board”) has approved a reverse stock split of the outstanding shares of the Company's common stock, par value $0.30 per share (the “Common Stock”), at a ratio of one-for-ten (the “Reverse Stock Split”). The Company's shareholders granted authority to the Board to effect the Reverse Stock Split at the Company's Special Meeting of Shareholders held on November 2, 2022, as adjourned to November 8, 2022. The Reverse Stock Split is scheduled to take effect at approximately 5:00 p.m. Eastern Time on December 21, 2022 (the “Effective Time”).

Team, Inc. Announces One-for-Ten Reverse Stock Split

SUGAR LAND, Texas, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Team, Inc.'s (NYSE: TISI) (“TEAM” or the “Company”) Board of Directors (“Board”) has unanimously appointed Keith Tucker as Chief Executive Officer effective as of November 22. Mr. Tucker had been serving as interim Chief Executive Officer since March 2022.

Keith Tucker Appointed as Chief Executive Officer at Team, Inc.

Consolidated Revenue Increased 10% over 3Q 2021 Completes Strategic Sale of Quest Integrity Business to Baker Hughes

Team, Inc. Reports Third Quarter 2022 Results

SUGAR LAND, Texas, Nov. 04, 2022 (GLOBE NEWSWIRE) -- TEAM, INC. (“TEAM” or the “Company”) (NYSE: TISI) today announced that on November 2, 2022 it received written notice from the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period (the “Notice”).

TEAM, INC. Receives Continued Listing Notice From NYSE

Scheduled to Reconvene November 8, 2022 at 3:00 p.m. Central Time at Company Headquarters to Vote on Proposal One

Team, Inc. Announces Adjournment of Special Meeting of Shareholders

SUGAR LAND, Texas., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, announced today the closing of the previously disclosed sale of its Quest Integrity business to Baker Hughes, an energy technology company that provides solutions to energy and industrial customers worldwide, for approximately $279 million, reflecting certain estimated post-closing adjustments. The net proceeds to the Company (after payment of transaction related expenses and certain other fees) will be approximately $270 million. The Company intends to use approximately $238 million of the proceeds to pay down term debt and to pay certain fees associated with that repayment and related accrued interest, with the remainder reserved for general corporate purposes.

Team, Inc. Completes Sale of Quest Integrity Business

Consolidated revenue increased 5% over 2Q 2021

Team, Inc. Reports Second Quarter 2022 Results

SUGAR LAND, Texas, July 15, 2022 (GLOBE NEWSWIRE) -- TEAM, INC. (“TEAM” or the “Company”) (NYSE: TISI) today announced that on July 13, 2022 it received written notice from the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period (the “Notice”).

Team, Inc. Receives Continued Listing Notice From NYSE

SUGAR LAND, Texas , June 17, 2022 /PRNewswire/ -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company"), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that on June 17, 2022, it received notice (the "Notice") from the New York Stock Exchange (NYSE) that it is no longer in compliance with the NYSE continued listing standards set forth in Section 802.01B of the NYSE's Listed Company Manual due to the fact that the Company's average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its shareholders' equity was less than $50 million. In accordance with NYSE procedures, the Company intends to notify the NYSE that it plans to submit a plan within 45 days of receipt of the Notice advising the NYSE of definitive action it has taken, or is taking, to bring it into compliance with Section 802.01B within 18 months of receipt of the Notice.

TEAM, INC. RECEIVES CONTINUED LISTING STANDARD NOTICE FROM NYSE

Seasoned financial executive joins to help support TEAM's strategic and financial repositioning SUGAR LAND, Texas , June 13, 2022 /PRNewswire/ -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company"), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that Nelson M. Haight has been appointed as Executive Vice President – Chief Financial Officer, effective June 13, 2022.

TEAM, INC. NAMES NELSON M. HAIGHT AS CHIEF FINANCIAL OFFICER

Consolidated revenue increased 12% over 1Q 2021  Quest Integrity segment delivered 84% growth over 1Q 2021 New capital raise and ABL refinancing in February 2022 SUGAR LAND, Texas , May 10, 2022 /PRNewswire/ -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company"), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today reported its financial results for the first quarter ended March 31, 2022. First Quarter 2022 Financial and Operational Results: First quarter 2022 revenues were $218.6 million, an increase of 12.3% over the prior year quarter GAAP net loss was $32.5 million, and Consolidated Adjusted EBITDA was positive $0.4 million New capital raise and ABL refinancing in February 2022 to provide sufficient runway for performance improvement and key value creation initiatives, including ongoing strategic review process "I am proud of our team's performance during the first quarter and the improved year-over-year top-line growth in each of our segments.

TEAM, INC. REPORTS FIRST QUARTER 2022 RESULTS

Eaton Vance California Municipal Bond Fund II

Enservco

Barrick Gold

Rite Aid

Volt Information Sciences, Inc.

Wondering what you need to do about the possibility of a recession? Learn why Team Inc might be one of your best bets right now.

Recession Fears Are a Golden Opportunity for Deep Value Moonshots

SUGAR LAND, Texas , April 4, 2022 /PRNewswire/ -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company"), today announced that on April 1, 2022, it received written notification from the New York Stock Exchange ("NYSE") that it has regained compliance with the NYSE continued listing standards ("Notice"). With this Notice, TEAM has cured the previously disclosed minimum stock price deficiency and is now in compliance with NYSE Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading–day period.

TEAM, INC. REGAINS COMPLIANCE WITH NYSE CONTINUED LISTING STANDARDS

Lineage Cell Therapeutics Inc

Williams Industrial Services Group Inc.

The Dow Jones tumbled more than 150 points on Monday. Investors, meanwhile, focused on some notable insider trades.

Insiders Buy Over $1.3M Of 4 Penny Stocks

SUGAR LAND, Texas, March 17, 2022 /PRNewswire/ -- Team, Inc.'s (NYSE: TISI) ("TEAM" or the "Company"), Board of Directors ("Board") today announced a leadership transition, effective March 21, 2022, including the departure of Amerino Gatti from his positions as Chairman and Chief Executive Officer.  In connection with the leadership transition, the Board of Directors has appointed Keith Tucker, currently the President of TEAM's Inspection and Heat Treating group, to the role of Interim Chief Executive Officer effective the same date.

News for Team Stock (TISI)