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

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Tetra Technologies Inc
Ticker: TTI CIK: 844965

Exhibit 99.1

FOR IMMEDIATE RELEASE

TETRA TECHNOLOGIES, INC.

ANNOUNCES THIRD QUARTER 2017 RESULTS

AND PROVIDES UPDATED TOTAL YEAR 2017 GUIDANCE

THE WOODLANDS, Texas, November 9, 2017 / PR Newswire / - TETRA Technologies, Inc. (“TETRA” or the “Company”) (NYSE:TTI) announced consolidated third quarter 2017 earnings per share attributable to TETRA stockholders of $0.03, which compares to consolidated losses of $0.10 per share attributable to TETRA stockholders in the second quarter of 2017 and $0.16 per share in the third quarter of 2016.

TETRA's adjusted per share results attributable to TETRA stockholders for the third quarter of 2017, excluding Maritech and special items, were earnings per share of $0.04, which compares to adjusted losses per share of $0.04 in the second quarter of 2017 and $0.05 in the third quarter of 2016, also excluding Maritech and special items. Third quarter 2017 revenue of $216 million increased 4% from the second quarter of 2017 and 23% from the third quarter of last year. The sequential improvement in revenue was driven by stronger offshore and onshore Fluids Division and Production Testing Division activity.

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


Third Quarter 2017 Results
	Three Months Ended
	September 30, 2017		June 30, 2017			September 30, 2016
	(In Thousands, Except per Share Amounts)
Revenue	$	216,364	$	208,369		$	176,553
Net income (loss) attributable to TETRA stockholders	3,145		(10,991		)	(15,009		)
Adjusted EBITDA⁽¹⁾	45,079		28,537			36,927
GAAP EPS attributable to TETRA stockholders	0.03		(0.10		)	(0.16		)
Adjusted EPS attributable to TETRA stockholders⁽¹⁾	0.04		(0.04		)	(0.05		)
Consolidated net cash provided (used) by operating activities	37,395		19,977			(7,830		)
TETRA only adjusted free cash flow⁽¹⁾	$	17,818	$	6,090		$	(13,821	)

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

Highlights include:

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Fluids Division revenue increased 5% sequentially and 49% compared to the third quarter of 2016 reflecting the completion of a significant Gulf of Mexico CS Neptune^® completion fluids project that started late in the second quarter of 2017. Additionally, stronger US onshore fracking activity resulted in a 46% sequential increase in water management revenue, which was double compared to the same quarter a year ago.

The following information was filed by Tetra Technologies Inc (TTI) on Thursday, November 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.

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