SUGAR LAND, Texas, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the quarter ended June 30, 2025. Second Quarter 2025 Highlights: Generated revenue of $248.0 million, up $19.4 million, or 8.5% over the second quarter of 2024.Grew gr ...

Core Viewpoint - Team, Inc. has appointed Daniel Dolson as Executive Vice President, Chief Strategy and Transformation Officer to lead the company's transformation efforts aimed at achieving specific financial and operational targets set by the Board of Directors [1][3] Group 1: Transformation Plan - The transformation plan includes improving critical processes across the organization, generating annual cost savings and margin improvements, and increasing focus on commercial strategy and execution to drive consistent revenue growth worldwide [6] - Daniel Dolson brings over 25 years of operational and financial experience, having previously held executive roles at Dayton Superior Corporation and Associated Materials LLC, which positions him well to lead the transformation [2][3] Group 2: Leadership and Commitment - Keith D. Tucker, the CEO, expressed pride in the company's progress and emphasized the commitment to accelerate business performance and enhance capabilities through the transformation plan [3] - Michael J. Caliel, Executive Chair of the Board, highlighted the necessity of having a dedicated executive for the transformation, affirming Dolson's unique skill set and experience [3] Group 3: Company Overview - Team, Inc. is a global provider of specialty industrial services, offering a full suite of mechanical, heat-treating, and inspection services, with operations in over 20 countries [4] - The company focuses on delivering technological innovation combined with over a century of management expertise to enhance safety, reliability, and operational efficiency for its customers [4]

Core Insights - Team, Inc. reported its financial results for the first quarter of 2025, highlighting a total revenue of $198.7 million, which is essentially flat compared to the prior year period [4][6][9] - The Inspection and Heat Treating (IHT) segment showed strong growth with a revenue increase of 6.8% year-over-year, while the Mechanical Services (MS) segment experienced a decline of 7.7% [4][12][29] - The company reported a net loss of $29.7 million for the first quarter, which includes an $11.9 million loss on debt extinguishment due to refinancing [7][9][22] Financial Performance - First quarter revenues totaled $198.7 million, with a gross margin of 23.8%, down from 24.4% in the prior year [6][22] - Adjusted EBITDA for the first quarter was $5.3 million, representing 2.7% of consolidated revenue, compared to $6.5 million (3.3% of revenue) in the prior year [9][22] - Selling, general, and administrative expenses decreased by 3.4% to $53.3 million compared to the first quarter of 2024 [7][22] Segment Analysis - The IHT segment generated revenues of $106.2 million, up 6.8% from $99.4 million in the prior year, driven by increased activity in turnaround services and capital projects [12][29] - The MS segment's revenues fell to $92.4 million from $100.2 million, primarily due to lower callout activity and project delays [12][29] - Operating income for the IHT segment increased by 67.7% to $8.7 million, while the MS segment reported an operating loss of $1.1 million [13][29] Strategic Initiatives - The company completed a refinancing transaction in March 2025, which lowered its blended cost of capital and extended term debt maturities to 2030 [4][7] - An optimization program was launched to improve workforce utilization and cost efficiency, expected to yield annualized cost savings of at least $10 million [4][5] - The leadership team is focused on generating top-line growth and improving cash flow generation while navigating market uncertainties [5][4] Balance Sheet and Liquidity - As of March 31, 2025, the company had total liquidity of $29.1 million, including $12.8 million in cash and cash equivalents [14][15] - Total debt increased to $353.6 million from $325.1 million at the end of 2024, primarily due to the refinancing and higher borrowings [15][14] - The company's net debt was reported at $336.8 million as of March 31, 2025 [15]

SUGAR LAND, Texas, May 08, 2025 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today announced that it will issue its first quarter 2025 earnings release on Monday, May 12, 2025 after the close of trading on the New York Stock Exchange. TEAM will host a conference call to discuss its fina ...