Team, Inc. reports softer Q2 earnings as customers delay mechanical maintenance due to shifting market dynamics—especially in the Middle East—which is squeezing margins but leaving inspection and heat treating business resilient. The new CEO, just four months in, is driving change across leadership, sales, and operations, launching a $20–$35M annual cost-cutting program with $5–$10M upfront costs, aiming for full impact by 2027. Stellex Capital now holds the largest stake, signaling confidence in the company’s transformation. While full-year outlook remains intact, results are expected to fall on the lower end due to uncertain timing of deferred work returning later this year.
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