TETRA Sees Q2 Revenues At High End Of Prior Outlook Range

(RTTNews) - TETRA Technologies, Inc. (TTI), an energy services and solutions company, announced Wednesday that it expects net income before taxes and discontinued operations and Adjusted EBITDA for the second quarter to be above the guidance range previously provided.

TETRA had previously anticipated in net income before taxes and discontinued operations to be between $11.5 million and $13.5 million. Adjusted EBITDA was previously anticipated to be between $27 million and $30 million.

This up gradation is based on strong performance by the Company's industrial calcium chloride business, strong offshore completion fluids activity and improved Water and Flowback Services margins.

The company said anticipated Adjusted EBITDA excludes mark-to-market gains or losses from investments and non-recurring charges and expenses.

Revenue for the second quarter is expected to be at the high end of the previously provided guidance range of between $165 million and $175 million.

Further, TETRA expects second quarter cash flow from operating activities and adjusted free cash flow from continuing operations to be meaningfully above that same measure versus the first quarter of 2023.