Team Inc Up 9.46% To $4.86 After Earnings

Team Inc (TISI) said after close Thursday that it lost $5.24 per share in quarter one 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $202.3 million in revenue

In the same quarter a year ago, the company lost $6.7 per share on revenue of $189 million.

The stock is up 9.46% to $4.86 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Trading in the five days leading up to the report earned Team Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 14.

Team Inc is a provider of specialty industrial services, including inspection, engineering assessment and mechanical repair and remediation required in maintaining high temperature and high-pressure piping systems and vessels that are utilized in the refining, petrochemical, and others. The company operates in three segments Inspection and Heat Treating Group, Mechanical Services Group and Quest Integrity Group. Inspection and Heat Treating Group provides non-destructive testing services for the process, pipeline and power sectors and others. The Mechanical Services Group provides call-out and turnaround services under both on-stream and shut down circumstances. Quest Integrity provides integrity and reliability management solutions for the process, pipeline and power sectors.