Tetra Technologies Inc (TTI) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Tetra Technologies Inc
Ticker: TTI CIK: 844965

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

TETRA TECHNOLOGIES, INC.

ANNOUNCES SECOND QUARTER 2017 RESULTS

THE WOODLANDS, Texas, August 9, 2017 / PR Newswire / - TETRA Technologies, Inc. (“TETRA” or the “Company”) (NYSE:TTI)

announced a consolidated second quarter 2017 net loss per share attributable to TETRA stockholders of $0.10, which compares to a loss of $0.02 per share in the first quarter of 2017 and a loss of $0.32 per share in the second quarter of 2016.

TETRA's adjusted per share results attributable to TETRA stockholders for the second quarter of 2017, excluding Maritech and special items, were a loss of $0.04, which compares to adjusted losses per share of $0.10 in the first quarter of 2017 and $0.15 in the second quarter of 2016, also excluding Maritech and special items. Second quarter 2017 revenue of $208 million increased 24% from the first quarter of 2017 and 19% from the second quarter of last year, primarily as a result of stronger activity in our Fluids Division water management and product sales in the Gulf of Mexico.

(Adjusted earnings/loss per share is a non-GAAP financial measure that is reconciled to the nearest GAAP measure in the accompanying schedules.)


Second Quarter 2017 Results
	Three Months Ended
	June 30, 2017			March 31, 2017			June 30, 2016
	(In Thousands, Except per Share Amounts)
Revenue	$	208,369		$	168,001		$	175,660
Net loss attributable to TETRA stockholders	(10,991		)	(2,463		)	(26,574		)
Adjusted EBITDA⁽¹⁾	28,537			18,275			32,949
GAAP EPS attributable to TETRA stockholders	(0.10		)	(0.02		)	(0.32		)
Adjusted EPS attributable to TETRA stockholders⁽¹⁾	(0.04		)	(0.10		)	(0.15		)
Consolidated net cash provided (used) by operating activities	19,977			(20,538		)	9,795
TETRA only adjusted free cash flow⁽¹⁾	$	6,090		$	(13,847	)	$	(7,314	)

(1) Non-GAAP financial measures are reconciled to GAAP in the schedules below.

Highlights include:

•

Fluids Division revenues increased 22% sequentially and 47% compared to the second quarter of 2016 due to the start, late in the second quarter, of a significant Gulf of Mexico TETRA CS Neptune™ completion fluids project that is expected to be completed in the third quarter and the traditional ramp-up in fluids sales in Northern Europe.

•

Compression Division revenues increased 15% over the first quarter as the business continues to see signs of a recovery. Compression fleet utilization improved 190 basis points to 78.9% compared to the first quarter, the third consecutive quarter of improved utilization driven largely by demand for large horsepower equipment.

The following information was filed by Tetra Technologies Inc (TTI) on Wednesday, August 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Tetra Technologies Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Tetra Technologies Inc.

Continue

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/844965/000084496517000018/a20170630tti10q.htm