Team Inc Up 9.52% To $9.96 After Earnings

Team Inc (TISI) missed earnings estimates for Q2 2023 this afternoon.

Team Inc's earnings came in at an EPS loss of $2.55 per share. The firm's loss per share narrowed by 29% since reporting a loss of $3.6 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $239.5 million. That revenue figure represents a 4.69% decrease from the year ago quarter.

The stock is up 9.52% to $9.96 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.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 45.

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.