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Tetra Technologies Up 10.26% To $4.25 After Earnings Miss

Wednesday, February 28, 2024 11:23 AM | InvestorsObserver Analysts

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Tetra Technologies Up 10.26% To $4.25 After Earnings Miss

Wednesday, February 28, 2024 - Tetra Technologies (TTI) reported downside earnings and upside revenues.

Tetra Technologies's earnings came in at an EPS of $0.03 per share, 63% lower than estimates for an EPS of $0.08 per share. The firm's earnings are up 50% since reporting $0.02 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $153.1 million. That is an increase of 3.85% in revenues from the year-ago report and is 1.77% higher than consensus estimates set at $150.5 million.

The stock is up 10.26% to $4.25 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 53. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Tetra Technologies Inc is a diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, and compression services. It has two reporting segments namely Completion Fluids & Products, Water & Flowback Services. The Completion Fluids & Products Division that derives majority revenue manufactures and markets clear brine fluids, additives, and associated products and services. The Water & Flowback Services Division provides onshore oil and gas operators with comprehensive water management services.

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