Team Appoints Gary Hill as New CEO
Team announced that Keith Tucker will retire from Team after over 20 years of service. In conjunction with this planned leadership transition, Team's board of directors has appointed Gary Hill as the company's CEO effective February 1. Hill brings over 30 years of experience in the industrial services sector, most recently serving as COO of Shermco Industries.
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Team Inc. CEO Keith Tucker to Retire, Gary Hill Appointed Successor
- Executive Transition: Team Inc. announced the retirement of CEO Keith Tucker after over 20 years, with Gary Hill appointed as the new CEO effective February 1, 2026, indicating a potential shift in leadership direction and strategic execution for the company.
- New CEO Background: Gary Hill brings extensive management experience from his role as COO at Shermco Industries and previous senior leadership positions at AIS Holdings and AZZ Inc, which may drive future growth at Team Inc. through his proven leadership capabilities.
- Financial Outlook Reaffirmed: Team reaffirmed its 2025 outlook, targeting a 13% adjusted EBITDA growth, reflecting the company's optimism about future profitability while strengthening its balance sheet.
- Investment Context: The company is enhancing its financial position through a $75 million investment from Stellex, which not only improves its capital structure but also provides funding for future expansions and strategic investments.
Team Inc. Reports Increased Losses in Q3
Third Quarter Loss: Team Inc. reported a loss of -$12.06 million for the third quarter, compared to a loss of -$11.13 million in the same period last year.
Adjusted Earnings: Excluding certain items, the company had adjusted earnings of -$6.67 million, or -$1.48 per share.
Revenue Growth: The company's revenue increased by 6.7% to $224.98 million, up from $210.76 million a year ago.
Earnings Comparison: The earnings per share (EPS) for the quarter was -$2.68, compared to -$2.52 in the previous year.
Team, Inc. Reveals Schedule for Third Quarter Earnings Release and Conference Call
Earnings Release Announcement: Team, Inc. will release its third quarter 2025 earnings on November 12, 2025, after market close, and will hold a conference call on November 13, 2025, at 10:00 a.m. Central Time to discuss the results.
Participation Details: Interested participants can join the conference call toll-free in the U.S. at (877) 270-2148 or internationally at (412) 902-6510, and the call will also be available via webcast on the company's website.
Company Overview: Team, Inc., based in Sugar Land, Texas, is a leading provider of specialty industrial services, offering a range of mechanical, heat-treating, and inspection services across more than 20 countries.
Commitment to Safety and Efficiency: The company focuses on delivering technological innovation and expertise to enhance safety, reliability, and operational efficiency for its customers' critical assets.
Team, Inc. Reveals Updates to Its Board of Directors
Board Changes: Team, Inc. announced the appointment of K. Niclas Ytterdahl and Michael D. Stewart to its Board of Directors, effective October 24, 2025, following an investment agreement with Stellex Capital Management. Jeffery G. Davis will step down from the Board at the end of 2025.
Leadership Transition: Michael J. Caliel has returned to the role of Chairman of the Board, having previously served as Executive Chairman, during which the company improved its operations and financial performance.
Board Composition: Following the recent changes, the Board will consist of nine members, reducing to eight after Mr. Davis's departure.
Company Overview: Team, Inc. is a global provider of specialty industrial services, offering a range of mechanical, heat-treating, and inspection services to enhance safety and operational efficiency for critical assets across more than 13 countries.
Team, Inc. Reveals Private Placement of Preferred Shares
Transaction Overview: Team, Inc. has successfully closed a $75 million private placement of preferred stock and warrants with Stellex Capital Management, which will reduce debt and enhance financial flexibility.
Debt Repayment and Facility Amendments: The proceeds will be used to pay down approximately $67 million of debt, and amendments to existing credit facilities will increase commitment amounts and reduce applicable margins, extending maturity to October 2028.
Strategic Partnership: The investment marks the beginning of a strategic partnership with Stellex, which will also have the right to nominate two members to Team's Board of Directors, aligning with the company's focus on growth and employee development.
Future Growth Potential: Stellex expresses confidence in Team's fundamentals and aims to unlock further growth potential through operational improvements and technological advancements, supporting Team's long-term value creation strategy.
Team Reports 8.5 Percent Q2 Revenue Rise
Financial Performance: Team reported an 8.5% increase in Q2 2025 revenue to $248 million, driven by strong growth in Inspection and Heat Treating services, while adjusted EBITDA rose 12.4% to $24.5 million despite a widening net loss of $(4.3) million.
Operational Highlights: The company is focusing on transformation initiatives for operational efficiency and margin improvement, with the Inspection and Heat Treating segment showing significant growth, while cash flow remains negative but improved compared to last year.
Team Inc. CEO Keith Tucker to Retire, Gary Hill Appointed Successor
- Executive Transition: Team Inc. announced the retirement of CEO Keith Tucker after over 20 years, with Gary Hill appointed as the new CEO effective February 1, 2026, indicating a potential shift in leadership direction and strategic execution for the company.
- New CEO Background: Gary Hill brings extensive management experience from his role as COO at Shermco Industries and previous senior leadership positions at AIS Holdings and AZZ Inc, which may drive future growth at Team Inc. through his proven leadership capabilities.
- Financial Outlook Reaffirmed: Team reaffirmed its 2025 outlook, targeting a 13% adjusted EBITDA growth, reflecting the company's optimism about future profitability while strengthening its balance sheet.
- Investment Context: The company is enhancing its financial position through a $75 million investment from Stellex, which not only improves its capital structure but also provides funding for future expansions and strategic investments.
Team Inc. Reports Increased Losses in Q3
Third Quarter Loss: Team Inc. reported a loss of -$12.06 million for the third quarter, compared to a loss of -$11.13 million in the same period last year.
Adjusted Earnings: Excluding certain items, the company had adjusted earnings of -$6.67 million, or -$1.48 per share.
Revenue Growth: The company's revenue increased by 6.7% to $224.98 million, up from $210.76 million a year ago.
Earnings Comparison: The earnings per share (EPS) for the quarter was -$2.68, compared to -$2.52 in the previous year.
Team, Inc. Reveals Schedule for Third Quarter Earnings Release and Conference Call
Earnings Release Announcement: Team, Inc. will release its third quarter 2025 earnings on November 12, 2025, after market close, and will hold a conference call on November 13, 2025, at 10:00 a.m. Central Time to discuss the results.
Participation Details: Interested participants can join the conference call toll-free in the U.S. at (877) 270-2148 or internationally at (412) 902-6510, and the call will also be available via webcast on the company's website.
Company Overview: Team, Inc., based in Sugar Land, Texas, is a leading provider of specialty industrial services, offering a range of mechanical, heat-treating, and inspection services across more than 20 countries.
Commitment to Safety and Efficiency: The company focuses on delivering technological innovation and expertise to enhance safety, reliability, and operational efficiency for its customers' critical assets.
Team, Inc. Reveals Updates to Its Board of Directors
Board Changes: Team, Inc. announced the appointment of K. Niclas Ytterdahl and Michael D. Stewart to its Board of Directors, effective October 24, 2025, following an investment agreement with Stellex Capital Management. Jeffery G. Davis will step down from the Board at the end of 2025.
Leadership Transition: Michael J. Caliel has returned to the role of Chairman of the Board, having previously served as Executive Chairman, during which the company improved its operations and financial performance.
Board Composition: Following the recent changes, the Board will consist of nine members, reducing to eight after Mr. Davis's departure.
Company Overview: Team, Inc. is a global provider of specialty industrial services, offering a range of mechanical, heat-treating, and inspection services to enhance safety and operational efficiency for critical assets across more than 13 countries.
Team, Inc. Reveals Private Placement of Preferred Shares
Transaction Overview: Team, Inc. has successfully closed a $75 million private placement of preferred stock and warrants with Stellex Capital Management, which will reduce debt and enhance financial flexibility.
Debt Repayment and Facility Amendments: The proceeds will be used to pay down approximately $67 million of debt, and amendments to existing credit facilities will increase commitment amounts and reduce applicable margins, extending maturity to October 2028.
Strategic Partnership: The investment marks the beginning of a strategic partnership with Stellex, which will also have the right to nominate two members to Team's Board of Directors, aligning with the company's focus on growth and employee development.
Future Growth Potential: Stellex expresses confidence in Team's fundamentals and aims to unlock further growth potential through operational improvements and technological advancements, supporting Team's long-term value creation strategy.
Team Reports 8.5 Percent Q2 Revenue Rise
Financial Performance: Team reported an 8.5% increase in Q2 2025 revenue to $248 million, driven by strong growth in Inspection and Heat Treating services, while adjusted EBITDA rose 12.4% to $24.5 million despite a widening net loss of $(4.3) million.
Operational Highlights: The company is focusing on transformation initiatives for operational efficiency and margin improvement, with the Inspection and Heat Treating segment showing significant growth, while cash flow remains negative but improved compared to last year.
