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Sep 30, 2021
TETRA Q3 2021 Earnings Report
Announced third quarter 2021 income before discontinued operations and adjusted EBITDA.
Key Takeaways
TETRA Technologies reported a 30% year-on-year increase in revenue to $95 million. Net income before discontinued operations was $2.5 million, and adjusted EBITDA was $15.0 million. The company reduced long term debt by $8 million and had $1.0 million of positive adjusted free cash flow.
Third quarter revenue increased 30% year-on-year to $95 million.
Net income before discontinued operations was $2.5 million, including mark-to-market gains.
Adjusted EBITDA was $15.0 million, the highest since the start of the global pandemic.
Adjusted free cash flow improved sequentially by $5.5 million.
Revenue by Segment
Forward Guidance
The company expects materially higher fourth quarter revenues for Completion Fluids & Products due to delayed product deliveries and new awards.
Positive Outlook
- Expected materially higher fourth quarter revenues for Completion Fluids & Products.
- Return of Gulf of Mexico activity.
- Recent Brazil offshore awards.
- Long-term strategic supplier agreement expected before year-end.
- Plans to drill a well in the fourth quarter on dedicated acreage to obtain lithium and bromine samples.
Challenges Ahead
- Inflationary costs on chemicals production are expected to continue at least into the fourth quarter.
- Impact of Hurricane Ida.
- Global logistics challenges that delayed multiple completion fluid deliveries to international customers.
- Potential delays in energy storage projects.
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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