TEAM INC

Team Inc.'s Board of Directors approved an amendment to its Corporate Executive Officer Compensation and Benefits Continuation Policy. The amendment reduces the benefits payable in connection with a qualifying termination of employment related to a change in control. Specifically, the time period for supplemental salary payments was reduced to 24 months, and the calculation for supplemental compensation (bonus) was clarified to be the higher of the most recent year's actual bonus or the average of the last two years, or target bonus if no annual bonus has been received.

Team, Inc. announced the appointment of Clinton Roeder as Executive Vice President and Chief Financial Officer, effective June 22, 2026. Roeder will succeed Nelson Haight, who is retiring after over four years as CFO and will serve as a Special Advisor to the CEO during a transition period. Roeder brings over 30 years of financial and operational experience and is expected to help lead the company's next stage of growth and financial improvement.

Team, Inc. held its 2026 Annual Meeting of Shareholders, where several key proposals were approved. Shareholders re-elected three Class I directors and ratified the appointment of KPMG LLP as the independent auditor for fiscal year 2026. Additionally, the company's shareholders approved an amendment to the 2018 Equity Incentive Plan, increasing the shares available for issuance by 250,000, and also approved the issuance of shares underlying the Stellex Warrants.

TEAM INC reported first-quarter 2026 revenues of $215.1 million, an increase from $198.7 million in the prior year. The company significantly reduced its net loss to $(11.3) million, or $(3.12) per common share, compared to a net loss of $(29.7) million, or $(6.61) per common share, in Q1 2025. The company also reclassified its Emission Control Services from the MS segment to the IHT segment and accrued a $10.0 million liability for legal claims, fully offset by insurance receivables.

Team Inc. reported a solid start to 2026 with first-quarter revenues increasing 8.3% year-over-year to $215.1 million, marking its highest Q1 revenue since 2019. The company significantly improved its net loss by $18.4 million to $11.3 million and saw a 45.2% rise in Adjusted EBITDA to $7.7 million. Both Inspection & Heat-Treating and Mechanical Services segments contributed to the growth. The company also provided optimistic full-year 2026 guidance, projecting revenue growth of approximately 4% and Adjusted EBITDA growth of 16% at the midpoint over 2025 results.

Team, Inc. announced it will release its first quarter 2026 financial results on Wednesday, May 13, 2026, after the close of trading. Following the release, the company will host a conference call on Thursday, May 14, 2026, at 10:00 a.m. Central Time to discuss its financial and operational performance. Interested parties can access the call via dial-in or webcast on the company's website.

TEAM, INC. announced its 2026 Annual Meeting of Shareholders will be held on May 20, 2026, at its Sugar Land, Texas headquarters. Shareholders will vote on five proposals, including the election of Class I directors, an advisory vote on Named Executive Officer compensation, ratification of KPMG LLP as the independent auditor, approval of the Stellex Warrant Shares Issuance Proposal, and an amendment to the 2018 Equity Incentive Plan. The Stellex proposal is crucial to avoid a 1% increase in the Series B Preferred return rate if not approved.