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Stock impact report

Team, Inc. Reports First Quarter 2021 Results

Team, Inc. (TISI) 
Last team, inc. earnings: 3/12 05:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.teaminc.com
Company Research Source: PR Newswire
SUGAR LAND, Texas, May 4, 2021 /PRNewswire/ -- Team, Inc. (NYSE: TISI), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today reported its financial results for the first quarter ended March 31, 2021.First Quarter 2021 Results: Revenue of $194.6 million, down $42.2 million, or 17.8%, from Q1 2020 Gross margin was $43.7 million, or 22.5%, slightly below the 24.3% from Q1 2020 Reduced quarterly SG&A by $12.3 million or 15.7% as compared to Q1 2020 Strong decremental despite a 17.8% drop in revenue, as a result of disciplined cost management "TEAM's first quarter results were adversely impacted by numerous headwinds," said Amerino Gatti, TEAM's Chairman and Chief Executive Officer. "As expected, we experienced a slow start to the year. January is historically a weak month as our clients' focus is on scheduling maintenance and capital projects. February's typical uptick in activity was delayed by the unprecedented winter s Show less Read more
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