Team gains on plans to sell energy tech business, smaller Q2 loss

Team

15/08/2022 14:20

** Specialty industrial services provider Team Inc's shares
 TISI.N  swell 86.7% to $1.83 premarket
    ** Co to sell its energy tech unit Quest Integrity to
oilfield services firm Baker Hughes  BKR.O  for $280 mln in cash
in a bid to refocus on its core business  urn:newsml:reuters.com:*:nGNX4X9v0W
    ** Deal expected to close in Q4
    ** TISI also reports Q2 operating loss of $2.8 mln, down
from $5.9 mln a year-ago  urn:newsml:reuters.com:*:nGNX7dZ1hD
    ** Q2 revenue rises 5.2% to $251.3 mln
    ** As of last close, TISI was down 9.9% YTD

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.mathews@thomsonreuters.com))