Tetra Technlgs Stock Price, News & Analysis

TETRA Technologies reported second quarter 2021 revenue of $102 million, a 32% sequential increase from Q1 2021, benefitting from peak seasonal sales in Northern Europe. The net loss before discontinued operations narrowed to $6.7 million from $11.9 million in Q1. Adjusted EBITDA rose 44% to $13 million, driven by improved operational performance. Despite a cash flow decline, demand for completion fluids is expected to rise. The company is also expanding its facility in Finland and investing in low carbon energy initiatives, including a $5 million investment in CarbonFree.

TETRA Technologies reported a preliminary assessment of lithium and bromine exploration targets across approximately 31,100 net acres in the Smackover Formation, Arkansas. The assessment estimates bromine reserves between 2.54 and 8.58 million tons and lithium reserves between 16,000 and 53,000 tons. This translates to 85,000 to 286,000 tons of Lithium Carbonate Equivalent (LCE) at current market prices of $12,500 per ton for LCE and $3,174 per ton for bromine. TETRA aims to leverage these resources to enhance shareholder value amid growing demand for low carbon energy solutions.

TETRA Technologies, Inc. (NYSE: TTI) announced it will release its second quarter 2021 results on August 2, 2021, after market close. A conference call to discuss these results will take place on August 3, 2021, at 10:30 a.m. Eastern Time, hosted by CEO Brady M. Murphy and CFO Elijio V. Serrano. Interested parties can listen via a toll-free phone call or through a live audio webcast available on the company's website. A replay will be accessible for one week after the call, and the webcast will be archived for 30 days.

TETRA Technologies, Inc. (NYSE:TTI) will be added to the Russell 3000 Index effective June 28, 2021, following the annual reconstitution. This inclusion comes after a significant rise in its market capitalization during 2021, reflecting the company's robust efforts to enhance shareholder value. The Russell 3000 Index encompasses the 4,000 largest U.S. stocks and is utilized by investment managers for index funds, with approximately $10.6 trillion in assets benchmarked against it. TETRA is positioned to benefit from this inclusion, particularly in the recovering oil & gas and emerging low carbon energy markets.

TETRA Technologies, Inc. (NYSE:TTI) will present at the 2021 RBC Capital Markets Global Energy, Power & Infrastructure Conference on June 9, 2021, at 4:00 P.M. Eastern Time. Senior management, including Brady Murphy (CEO) and Elijio Serrano (CFO), will participate and host one-on-one meetings. Interested parties can register through the provided link. Presentation materials will be available on the company's website on the same day under the Investor Relations section.

TETRA specializes in oil and gas services, focusing on completion fluids, water management, and production testing.

TETRA Technologies reported a first quarter 2021 revenue of $77 million, up 2% sequentially. The company faced a net loss before discontinued operations of $11.9 million, compared to $7.1 million in the previous quarter. A significant highlight was a $121 million gain from the deconsolidation of CSI Compressco. Adjusted EBITDA was $9 million, impacted by adverse weather costs. Cash flow from operations dropped to $5.8 million. TETRA reduced its total debt by $29 million, ending the quarter with $171 million in total debt.

TETRA Technologies has signed a memorandum of understanding (MOU) with CarbonFree to advance the commercialization of the SkyCycle technology, a carbon capture solution that mineralizes CO₂. This partnership leverages TETRA's expertise in calcium chloride production. The collaboration, which began in November 2020, aims for a definitive agreement within a year, potentially involving investments from TETRA. The initiative aligns with TETRA's strategy to grow in the low carbon energy market, emphasizing cost-effective solutions for carbon capture and mineralization.

TETRA Technologies, Inc. (TTI) will release its first quarter 2021 financial results on May 4, 2021, before the market opens. A conference call with President and CEO Brady M. Murphy and CFO Elijio V. Serrano will follow at 10:30 a.m. Eastern Time to discuss these results. Interested parties can listen by calling 1-888-347-5303 or via a live audio webcast on the company’s website. A replay will be accessible for one week after the call.

TETRA is focused on oil and gas services, offering completion fluids, water management, and more.