Loading...
•
Sep 30, 2024
TETRA Q3 2024 Earnings Report
Announced third-quarter financial results with revenue of $142 million and EPS of $0.02.
Key Takeaways
TETRA Technologies reported third-quarter revenue of $142 million and GAAP income before taxes and discontinued operations of $7.6 million, resulting in EPS from continuing operations of $0.02. Adjusted EBITDA was $23.5 million and adjusted net income per share was $0.03. The company generated $19.9 million in net cash from operating activities and $7.4 million in total adjusted free cash flow.
Third-quarter revenue reached $142 million.
GAAP income before taxes and discontinued operations was $7.6 million with EPS from continuing operations at $0.02.
Adjusted EBITDA stood at $23.5 million and adjusted net income per share at $0.03.
Net cash provided by operating activities was $19.9 million, with total adjusted free cash flow of $7.4 million.
Revenue by Segment
Forward Guidance
The third-quarter hurricanes, plus another in early October, have shifted some of our planned Gulf of Mexico deepwater work into early 2025. As a result, we expect a slower fourth quarter, but the Brazil award along with the previously announced three well TETRA CS Neptune fluids Gulf of Mexico project and anticipated material step-up in zinc bromide-based battery electrolyte shipments for energy storage is positioning us for a very strong start to 2025.
Positive Outlook
- Significant multi-well, multi-year deep water completion fluids contract in Brazil.
- Three well TETRA CS Neptune fluids Gulf of Mexico project.
- Anticipated material step-up in zinc bromide-based battery electrolyte shipments for energy storage.
- Increasing bromine-based fluids inventory to capitalize on opportunities.
- Discussions with bromine suppliers to expand access to bromine in 2025 and 2026.
Challenges Ahead
- Third-quarter hurricanes shifted some Gulf of Mexico deepwater work into early 2025.
- Expect a slower fourth quarter.
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
Loading earnings performance data...
Loading earnings reaction data...