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Jun 30, 2024
TETRA Q2 2024 Earnings Report
Reported a sequential increase in revenue and adjusted EBITDA driven by strong performance from the Completion Fluids & Products Division.
Key Takeaways
TETRA Technologies reported a 14% sequential increase in revenue to $172 million and a 32% sequential increase in Adjusted EBITDA to $30.2 million. The company secured a three-well deepwater TETRA CS Neptune fluids project in the Gulf of Mexico. Net income was $7.6 million, or $0.06 per share, and adjusted free cash flow was $9.4 million.
Secured a three-well deepwater TETRA CS Neptune fluids project in the Gulf of Mexico.
Second quarter revenue of $172 million increased 14% sequentially.
Second quarter net income of $7.6 million.
Adjusted EBITDA of $30.2 million increased 32% sequentially.
Revenue by Segment
Forward Guidance
The company expects the first well completion will start in the fourth quarter of this year and the remaining wells to carry over through the first half of 2025.
Positive Outlook
- Expect the first well completion will start in the fourth quarter of this year
- Remaining wells to carry over through the first half of 2025
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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