The following is a summary of the Team, Inc. (TISI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Team, Inc. reported an increase in gross margin dollars by nearly $3 million, reaching $63.6 million.

• Adjusted EBITDA for Q2 2024 stood at $21.8 million, marking a 25% increase from Q2 2023.

• Operating income surged nearly 150%, and cash flow from operating activities improved by $19 million over the previous year.

• Despite a consolidated net loss of $2.8 million, this was a $13 million improvement compared to Q2 2023.

Business Progress:

• Team, Inc. has launched commercial initiatives targeting higher growth and higher margin markets, particularly in aerospace and midstream sectors.

• The company has also made strategic additions to its Operations Management team in these segments.

• Incremental investments have been approved for expanding aerospace capacity by the end of 2024.

• Progress is expected in international and Canadian operations and traction in commercial initiatives in the second half of 2024.

Opportunities:

• Continued targeted commercial initiatives are expected to drive revenue growth, particularly with strong demand seen at the aerospace facility, which reported a 46% increase in revenue.

Risks:

• No explicit risks mentioned

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