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.

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Team Inc. reports robust Q2 results, eyes sustained growth ahead

Team Inc.'s Q2 2024 performance reflects a positive trajectory with significant improvements in key financial metrics and operational efficiency.
The company's strategic roadmap implementation and focus on profitability enhancement position it well for sustained growth and increased shareholder value.
While challenges in maintaining growth persist, Team Inc. remains optimistic about its future outlook and opportunities for continued success in the market.

Team, Inc. reports Q3 revenue growth and cost savings

Team, Inc. demonstrated revenue growth and improved EBITDA performance in Q3 2024.
Challenges in Canadian and international operations led to a revised full-year outlook.
Focus on cost management and operational improvements to drive future growth and margins.
Revised guidance sets revenue between $845-860 million and adjusted EBITDA at $53-55 million.

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Growth in the U.S. operations and cost efficiencies aid TISI's earnings in Q3.

Team Reports Year-Over-Year Growth in Q3 Earnings and Revenues

Team, Inc. (NYSE:TISI ) Q3 2024 Earnings Conference Call November 12, 2024 10:00 AM ET Company Participants Nelson Haight - Chief Financial Officer Keith Tucker - Chief Executive Officer Conference Call Participants Operator Good morning. And welcome to the Team, Inc. Third Quarter Update Conference Call.

Team, Inc. (TISI) Q3 2024 Earnings Call Transcript

SUGAR LAND, Texas, Nov. 11, 2024 (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 reported its financial results for the third quarter ended September 30, 2024.

Team, Inc. Reports Third Quarter 2024 Results

SUGAR LAND, Texas, Nov. 06, 2024 (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 will issue its third quarter 2024 earnings release on Monday, November 11, 2024 after the close of trading on the New York Stock Exchange. TEAM will host a conference call to discuss its financial and operational results on Tuesday morning, November 12, 2024 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).

Team, Inc. Announces Timing Of Third Quarter Earnings Release And Conference Call

Amendment Provides Additional Liquidity and Improved Pricing SUGAR LAND, Texas, Sept. 30, 2024 (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, announced today that it has executed an amendment to its existing ABL credit facility, which consists of a $130 million revolving credit facility (the “Revolver”) and a $27.4 million term loan secured by certain real estate and machinery and equipment of the Company (together with the Revolver, the “Eclipse Loans”) provided by Eclipse Business Capital LLC ( “Eclipse”), and a $35 million delayed draw term loan (the “DDTL”) provided by funds managed by J.F.

Team, Inc. Announces Amendment and Maturity Extension of Its ABL Credit Facility

Lower operating expenses and enhanced margins across several regions aid Team's (TISI) earnings in Q2.

Team (TISI) Earnings Increase Y/Y in Q2, Revenues Decline

Team, Inc. (NYSE:TISI ) Q2 2024 Earnings Conference Call August 9, 2024 11:00 AM ET Company Participants Keith D. Tucker - Chief Executive Officer Nelson M.

Team, Inc. (TISI) Q2 2024 Earnings Call Transcript

SUGAR LAND, Texas, Aug. 08, 2024 (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 reported its financial results for the second quarter ended June 30, 2024.

Team, Inc. Reports Second Quarter 2024 Results

SUGAR LAND, Texas, Aug. 07, 2024 (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 will issue its second quarter 2024 earnings release on Thursday, August 8, 2024 after the close of trading on the New York Stock Exchange. TEAM will host a conference call to discuss its financial and operational results on Friday morning, August 9, 2024 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).

Team, Inc. Announces Timing of Second Quarter Earnings Release and Conference Call

Discover why Zacks rates Team as "Neutral," being the first on Wall Street to initiate the coverage of the stock. Explore the company's strategic cost management, ambitious revenue growth plans and the financial hurdles it faces in the current market environment.

Zacks Initiates Coverage of Team With Neutral Recommendation

SUGAR LAND, Texas, May 21, 2024 (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 posted an updated investor presentation on the Company's website www.teaminc.com, coupled with a recording where TEAM's Chief Executive Officer Keith Tucker and Chief Financial Officer Nelson Haight discuss the key highlights of the presentation.

Team, Inc. Showcases Strategic Vision With New Investor Presentation and Recording

SUGAR LAND, Texas, May 14, 2024 (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 reported its financial results for the first quarter ended March 31, 2024.

Team, Inc. Reports First Quarter 2024 Results

SUGAR LAND, Texas, April 08, 2024 (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 appointment of Pamela J. McGinnis to its Board of Directors (the "Board"). The Board's appointment of Ms. McGinnis as a Class II director is effective as of April 3, 2024, and her initial term will expire at the Company's 2024 annual meeting of shareholders, when she will stand for re-election to serve until the Company's 2027 annual meeting of shareholders. In connection with the Board's appointment of Ms. McGinnis, the size of the Board was increased from six to seven directors. The Board has also appointed Ms. McGinnis to serve on the Board's Compensation Committee.

Team, Inc. Appoints Pamela J. McGinnis to Its Board of Directors

SUGAR LAND, Texas, March 15, 2024 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company") today announced that on March 14, 2024, it received notice (the "Notice") from the New York Stock Exchange (“NYSE”) that it is not 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.

Team, Inc. Receives Continued Listing Standard Notice From NYSE

SUGAR LAND, Texas, March 07, 2024 (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 reported its financial results for the fourth quarter and full year ended December 31, 2023.

Team, Inc. Reports Fourth Quarter and Full Year 2023 Results

SUGAR LAND, Texas, Nov. 09, 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 reported its financial results for the third quarter ended September 30, 2023.

Team, Inc. Reports Third Quarter 2023 Results

SUGAR LAND, Texas, Nov. 07, 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, announced today that the Board of Directors has named Michael J. Caliel to the newly-created position of Executive Chairman of TEAM. Mr. Caliel has served as Team's non-executive Chairman since March 21, 2022. As Executive Chairman, Mr. Caliel will focus on TEAM's long-term corporate strategy development, including growth opportunities, profit improvement and strategic alternatives to enhance the Company's enterprise value. Mr. Caliel will also support and advise the management team incorporating longer term objectives with the day-to-day management of the business. Keith Tucker will continue to capably serve as TEAM's Chief Executive Officer, leading the execution of the Company's corporate strategies and managing all business operations.

Team, Inc. Names Michael J. Caliel as Executive Chairman

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

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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.

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