Team reports Q4 EPS ($1.61) vs. ($5.25) last year

Reports Q4 revenue $213.3M vs. $214.1M last year. “Our fourth quarter and full year results demonstrated the ongoing impact of our operational and commercial initiatives, with year over year expansion in both gross and Adjusted EBITDA margin. In the fourth quarter, we successfully grew Adjusted EBITDA margin across both segments while holding corporate and support costs flat, driving a 50.5% improvement in Adjusted EBITDA,” said Keith D. Tucker, Team’s (TISI) Chief Executive Officer. “For the full year, we expanded our Adjusted EBITDA margin by 150 basis points to 6.4%, generating a 27.7% year over year improvement in Adjusted EBITDA to $54.3 million. Importantly, both of our U.S. segments, which together represent roughly 75% of our total revenue, continued to grow their top line year over year in the fourth quarter as well as the full year. Heading into 2025, we expect consolidated top line growth in the mid-single digits and healthy activity levels across both segments as we begin to see the returns from our commercial initiatives targeting revenue growth in our higher margin call out and advanced service offerings and further expansion into adjacent markets such as midstream, aerospace, and general industrial lab inspection and testing . We see continued progress towards our Adjusted EBITDA margin target of at least 10% and expect at least 15% year over year growth in Adjusted EBITDA. Additionally, we recently expanded our initiatives to further optimize costs and improve workforce utilization, targeting annualized cost saving of at least $10 million.”