An Eye on Earnings Report: Team Inc. (NYSE: TISI)

Carlos Williams

I am Carlos Williams and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions.

I am the driving force behind News Perception with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Services” category.

Address: 1411 Tully Street Detroit, MI 48219, USA
Phone: (+1) 313-676-2812
Email: Carloswilliams@newsperception.com
Carlos Williams

SUGAR LAND, Texas, October 23, 2019 – Shares of Team Inc. (NYSE: TISI) showed the bullish trend with a higher momentum of 0.38% to $18.37. The company traded total volume of 99.081K shares as contrast to its average volume of 195.69K shares. The company has a market value of $553.49M and about 30.13M shares outstanding.

For the first quarter of 2019, Team, Inc. (TISI) reported consolidated revenues of $269.60M compared to $302.40M in the prior year quarter, primarily from lower activity in our Inspection and Heat Treating (“IHT”) and Mechanical Services (“MS”) segments, partially offset by higher activity levels in our Quest Integrity segment. Consolidated net loss in the first quarter of 2019 was $24.20M ($0.80 loss per diluted share) compared to a net loss of $12.30M ($0.41 loss per diluted share) in the first quarter of 2018. Adjusted EBITDA, a non-GAAP measure, was $3.80M for the first quarter of 2019 versus $9.90M in the prior year quarter.

First quarter 2019 reported results include certain net charges not indicative of Team’s core operating activities, including: $3.40M of costs related to our OneTEAM program and $2.20M of certain legal, professional fees and other costs. Net of tax, these items totaled $4.40M ($0.14 per diluted share).

Excluding these items, adjusted net loss, a non-GAAP measure, was $19.80M, or $0.66 adjusted net loss per diluted share for the first quarter of 2019 compared to adjusted net loss of $11.80M, or $0.40 adjusted net loss per diluted share for the same quarter in 2018. Our adjusted measure of operating loss, Adjusted EBIT, was $11.00M in the first quarter compared to $9.00M in the prior year comparable quarter.

Cash and Total Liquidity:

Consolidated cash and cash equivalents was $15.10M at March 31, 2019. We had approximately $58.0M of available borrowing capacity with total liquidity of $73.0M at March 31, 2019.

The Company offered net profit margin of -2.60% while its gross profit margin was 26.60%. ROE was recorded as -7.00% while beta factor was 1.56. The stock, as of recent close, has shown the weekly upbeat performance of 3.61% which was maintained at 25.39% in this year.

Carlos Williams

Carlos Williams

I am Carlos Williams and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind News Perception with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Services” category. Address: 1411 Tully Street Detroit, MI 48219, USA Phone: (+1) 313-676-2812 Email: Carloswilliams@newsperception.com

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