TETRA Technologies, Inc. Announces Second Quarter 2020 Results

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Go back to TETRA Technologies, Inc. Announces Second Quarter 2020 Results

TETRA Technologies (TTI) Reports In-Line Q2 EPS, Revenues Beat

August 4, 2020 7:07 AM EDT

TETRA Technologies (NYSE: TTI) reported Q2 EPS of ($0.09), in-line with the analyst estimate of ($0.09). Revenue for the quarter came in at $192.44 million versus the consensus estimate of $186.39 million.

Financial Highlights

Completion Fluids & Products income before taxes was $16.0 million, or 22.4% of revenue, while Adjusted EBITDA was $18.3 million, or 25.7% of revenue.Water & Flowback Services loss before taxes was $8.4 million, while Adjusted EBITDA remained positive at $400,000 despite a 57% sequential decline in revenue and a 64% decline in the US onshore rig count.TETRA only adjusted free cash flow from continuing operations was $31.2 million... More