Team Inc. (TISI) announced Monday morning that it now expects to report fourth quarter EPS of $0.52 to $0.60, down from prior expectations of $0.69 to $0.84. The company now expects fourth-quarter revenues to be in the range of $195 million-$200 million. Prior guidance was for revenues of $192 million to $207 million.
Team Inc. gapped open lower Monday and steadily declined during the first 45 minutes of trade. Shares finished down by 7.10 at $35.15 on the highest volume of the year. The stock dropped to over a 5-month low and fell below both its 50 and 200-day moving averages.
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