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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Team
Team (TISI) investor relations material
Team Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Q3 revenue fell 2.0% YoY to $220.369M; adjusted EBITDA rose 8.2% to $15.739M, while operating results shifted to a $0.471M loss from $1.342M income.
Transformation and diversification progressed as deferred turnaround work weighed on results; much of the delayed activity is expected to return in early 2027.
Financial highlights
Gross margin was $55.768M, or 25.3% of revenue, versus $58.044M a year earlier; net loss narrowed to $11.068M from $11.447M.
Excluding identified non-core expenses, Q3 operating income was $7.517M versus $5.442M YoY; identified non-core expenses totaled $7.988M.
Adjusted SG&A declined 7.4% to $43.3M, or 19.7% of revenue; reported SG&A was $50.698M versus $51.239M.
Nine-month revenue declined 1.1% to $664.103M; net loss narrowed to $29.213M, while adjusted EBITDA fell to $36.216M from $44.322M.
Q3 diluted loss per share was $3.10 versus $2.68; adjusted net loss was $3.399M, or $1.43 per share.
Outlook and guidance
FY 2026 guidance: revenue $870M–$890M, gross margin $226M–$249M and adjusted EBITDA $56M–$59M; revisions reflect deferred work shifted beyond year-end.
FY 2026 capital expenditure guidance is $13M–$14M; structural cost improvements are targeted at $15M–$18M in 2026 and $30M–$38M at full annual run rate.
Guidance assumes stable Inspection and Heat-Treating activity, no further Middle East escalation and realization of cost actions already taken; 2027 guidance was not issued.
Much deferred turnaround activity is expected to return in early 2027, subject to customer schedules and refining utilization.
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Latest events from Team
- Q2 2026 revenue and margins declined, but cost cuts and diversification efforts are in progress.TISI
Q2 2026 - Revenue up 8.3%, Adjusted EBITDA up 45.2%, net loss narrows, and outlook remains strong.TISIQ1 2026
- 2026 meeting features key votes on directors, compensation, warrants, equity plan, and auditor.TISIProxy filing
- 2026 meeting covers director elections, compensation, auditor, warrant issuance, and equity plan.TISIProxy filing
- Revenue, operating income, and adjusted EBITDA rose, margins improved, and debt was reduced.TISIQ4 2025
- Registering 1.45M shares for resale post-$75M private placement, supporting recapitalization.TISIRegistration Filing
- Q3 2024 revenue and margins improved, but guidance was lowered amid ongoing liquidity and NYSE risks.TISIQ3 2024
- Margins and cash flow improved in Q2 2024, with full-year growth and guidance reaffirmed.TISIQ2 2024
- Margins and EBITDA improved in 2024, with refinancing extending debt maturities to 2030.TISIQ4 2024
Next Team earnings date
Q4 202612 Mar, 2027
Team
Next Team earnings date
Q4 202612 Mar, 2027
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Frequently asked questions
Team, Inc. is an industrial services company that specializes in providing a comprehensive range of services related to the construction, maintenance, and monitoring of pressurized piping and associated systems. The company operates primarily through two segments: Inspection and Heat Treating (IHT), and Mechanical Services (MS). The company is headquartered in Sugar Land, Texas, and its shares are listed on the New York Stock Exchange.