Team Earnings: Here’s Why the Stock is Falling Now
Team Inc. (NASDAQ:TISI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 8.75%.
Team Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 36.11% to $0.23 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 7.93% to $174.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Team Inc. reported adjusted EPS income of $0.23 per share. By that measure, the company missed the mean analyst estimate of $0.36. It missed the average revenue estimate of $176.7 million.
Quoting Management: “We remain confident of our long-term growth and performance potential in spite of the near-term margin head-winds and the slow start for Quest. The initial $25 million stock repurchase program approved by our Board of Directors reflects this confidence,” said Phil Hawk, Team’s Chairman and Chief Executive Officer.
Key Stats (on next page)…