- **Revenue Growth**: 7% YoY driven by U.S. and Canada operations.
- **Margin Expansion**: Gross margin +8.4%, EBITDA margin 28.6% (highest since 2016).
- **Balance Sheet Strength**: $75M preferred stock placement reduces debt, enhances flexibility.
- **2025 Outlook**: 5% revenue growth, 13% EBITDA growth, targeting 10% EBITDA margin.
- **Strategic Focus**: Cost discipline, international expansion, and 10%+ EBITDA margin target.

**【Management Opening Remarks】**
- CFO Nelson Haight emphasized forward-looking statements and risks, setting the stage for a discussion of Q3 2025 operational and financial results.

**【CEO Commentary】**
- **Revenue Growth**: 7% YoY ($14M) driven by strong U.S. Nested/Call-out activity and 8.9% growth in International (Canada).
- **Margin Expansion**: Gross margin +8.4%, adjusted EBITDA margin 28.6% (highest since 2016).
- **Segment Performance**: 
  - Inspection & Heat-Treating: 5.7% growth
  - Mechanical Services: 7.8% growth
- **Balance Sheet Strength**: $75M preferred stock placement with Stellex to reduce debt and enhance flexibility.
- **2025 Outlook**: 5% revenue growth, 13% EBITDA growth, targeting 10% EBITDA margin.

**【CFO Financial Commentary】**
- **Balance Sheet Improvements**: 
  - $75M preferred stock issuance
  - $67M debt reduction
  - $30M delayed draw feature for future liquidity
  - Liquidity at $57.1M (cash + undrawn credit)
- **Cost Discipline**: SG&A as % of revenue down 70bps to 20.7%.
- **Cash Flow**: Year-to-date free cash flow impacted by non-recurring fees, but expecting Q4 improvement.
- **Long-Term Vision**: 3+ years of margin expansion and top-line growth.

**【Closing Remarks】**
- CEO Keith Tucker reiterated focus on safety, continuous improvement, and achieving 10%+ EBITDA margin.
- Confident in 2026 growth trajectory with Stellex partnership.

Team, Inc.(TISI)-20251113-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

TISI

TISI fundamentals

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