Team, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:57 pm EDT
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Team, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 239.49 million compared to USD 221.54 million a year ago. Net loss was USD 15.75 million compared to USD 21.55 million a year ago. Basic loss per share from continuing operations was USD 3.61 compared to USD 6.53 a year ago. Basic loss per share was USD 3.61 compared to USD 4.99 a year ago.
For the six months, sales was USD 441.77 million compared to USD 410.58 million a year ago. Net loss was USD 40.46 million compared to USD 54.01 million a year ago. Basic loss per share from continuing operations was USD 9.3 compared to USD 16.45 a year ago. Basic loss per share was USD 9.3 compared to USD 13.35 a year ago.
Team, Inc. is a provider of specialty industrial services. The Company offers its clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services. The Companyâs segments include Inspection and Heat Treating (IHT) and Mechanical Services (MS). IHT provides conventional and advanced non-destructive testing services primarily for the process, pipeline and power sectors, pipeline integrity management services, and field heat treating services, as well as associated engineering and condition assessment services. IHT also provides non-destructive testing services and metallurgical and chemical processing services. MS provides solutions designed to serve clients' needs during both the operational (onstream) and off-line states of their assets. Its onstream services include a range of standard custom-engineered leak repair and composite solutions, and hot tapping and line stopping, and on-line valve insertion solutions.
TEAM, INC. 
