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SUGAR LAND, Texas, Aug. 3, 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 second quarter ended June 30, 2021.
Second Quarter 2021 Results:
IHT and Quest segment revenue increased by 46.0% and 51.4%, respectively from Q2 2020
Gross margin was $62.8 million, up $5.4 million from Q2 2020
Quest adjusted EBITDA margin of 26.6%, surpassing the 2020 full year average of 24.1% TEAM s second quarter results reflect a mix of activity recovery and challenging market dynamics, said Amerino Gatti, TEAM s Chairman and Chief Executive Officer. Although we are not pleased with our overall results, revenue was at the upper end of our outlook. All three segments achieved revenue growth over Q2 2020 with Quest reporting the largest overall percent increase at 51%. Inspection & Heat Treating followed at approximat
Team Inc (TISI) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.