Team, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 14, 2023 at 04:30 pm EDT
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Team, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 211.29 million compared to USD 203.15 million a year ago. Net income was USD 146.97 million compared to net loss of USD 43.05 million a year ago. Basic loss per share was USD 13.15 compared to USD 12.19 a year ago. Diluted loss per share was USD 13.15 compared to USD 12.19 a year ago.
For the full year, the company reported sales was USD 840.21 million compared to USD 794.2 million a year ago. Net income was USD 70.08 million compared to net loss of USD 186.02 million a year ago. Basic loss per share was USD 35.85 compared to USD 59.67 a year ago. Diluted loss per share was USD 35.85 compared to USD 59.67 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. 
