Team Inc. ( (TISI) ) has released its Q4 earnings. Here is a breakdown of the information Team Inc. presented to its investors.
Team, Inc., headquartered in Sugar Land, Texas, is a global leader in providing specialty industrial services, including mechanical, heat-treating, and inspection services, aimed at enhancing safety, reliability, and operational efficiency for critical assets across various industries.
Team, Inc. recently released its financial results for the fourth quarter and full year of 2024, showcasing significant improvements in several key financial metrics. The company reported a notable reduction in net losses and an increase in gross margins, reflecting the positive impact of its operational and commercial initiatives.
In the fourth quarter of 2024, Team, Inc. generated revenues of $213.3 million, with a gross margin increase to $57.3 million, representing 26.9% of consolidated revenue. The company reported a net loss of $7.2 million, a substantial improvement from the previous year’s loss. For the full year, revenues reached $852.3 million, with a gross margin of $223.2 million. The net loss for the year was $38.3 million, showing a significant improvement over 2023. The company also successfully completed a refinancing transaction, extending term maturities and reducing interest rates.
Looking ahead to 2025, Team, Inc. anticipates mid-single-digit top-line growth and continued progress in its Adjusted EBITDA margin, targeting at least a 15% year-over-year growth. The company remains focused on optimizing costs and improving workforce utilization, aiming for annualized cost savings of at least $10 million. Management is committed to driving growth while enhancing margins and cash flow generation, with plans to provide further updates on their strategic vision in the coming months.