TETRA Shares Climb In Pre-market On Increased Q2 Expectations

(RTTNews) - Shares of TETRA Technologies, Inc. (TTI) were trading up on Wednesday morning after the company revised up its second quarter expectations above the previously provided guidance range. This up-gradation reflects strong performance by TTI's industrial calcium chloride business, offshore completion fluids activity, and improved Water and Flowback Services margins.

TTI was trading up by 5 percent at $3.57 per share in the pre-market trading on the New York Stock Exchange.

The technology firm now expects its second-quarter or June quarter net income before taxes and discontinued operations, and adjusted EBITDA to be above the previously provided outlook.

Earlier, TETRA had projected its second-quarter profit before taxes and discontinued operations to be in the range of $11.5 million - $13.5 million. Adjusted EBITDA was expected in the range of $27 million - $30 million.

For the second-quarter, revenue is now anticipated to be at the high end of the previous guidance range of $165 million - $175 million. On average, three analysts, polled by Thomson Reuters expect the firm to post revenue of $169.97 million, for the quarter.