Team Inc. ( (TISI) ) has released its Q3 earnings. Here is a breakdown of the information Team Inc. presented to its investors.
Team, Inc., headquartered in Sugar Land, Texas, is a global leader in providing specialty industrial services, including mechanical, heat-treating, and inspection services. The company operates in the industrial services sector and is known for its comprehensive suite of conventional and proprietary services across multiple industries.
Team, Inc. reported a 2% increase in revenue for the third quarter of 2024, reaching $210.8 million compared to the same period in 2023. Despite a net loss of $11.1 million, the company saw improvements in operating income and adjusted EBITDA, driven by a strong performance in its U.S. operations.
Key financial highlights include a 6% revenue growth in the U.S. market, offsetting declines in Canada and other international sectors. The company’s gross margin remained steady at 25.4%, while operating income improved by $4.4 million compared to the previous year. Team, Inc. also successfully extended its ABL Credit Facility, enhancing liquidity and financial flexibility.
Looking ahead, Team, Inc. anticipates continued growth and margin improvement, supported by commercial initiatives and cost discipline. The company expects top-line growth in low to mid-single digits for 2025 and aims to achieve an adjusted EBITDA margin of at least 10%, demonstrating a commitment to enhancing financial performance and shareholder value.
