Team Earnings: Here’s Why the Stock is Down Now
Team Inc. (NASDAQ:TISI) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.86%.
Team Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 23.94% to $0.54 in the quarter versus EPS of $0.71 in the year-earlier quarter.
Revenue: Rose 7.1% to $201.19 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Team Inc. reported adjusted EPS income of $0.54 per share. By that measure, the company missed the mean analyst estimate of $0.54. It beat the average revenue estimate of $198.84 million.
Quoting Management: “While our fourth quarter and full year results were consistent with our revised earnings guidance issued in May 2013, we are disappointed that fiscal 2013 was only a ‘near-best’ year for Team and not a ‘new-best’ year,” said Phil Hawk, Team’s Chairman and Chief Executive Officer. “We are pleased with our overall revenue growth for the year and quarter, but our expectation for fiscal 2014 is to rebalance our resources and restore the operating leverage that is inherent in our business, while continuing our history of double digit revenue growth.”
Key Stats (on next page)…