Exhibit 99.1

FOR IMMEDIATE RELEASE

 

 

 

 

 

TETRA TECHNOLOGIES, INC. ANNOUNCES

FOURTH QUARTER AND FULL YEAR 2018 RESULTS

 

THE WOODLANDS, Texas, February 28, 2019 / PR Newswire / - TETRA Technologies, Inc. (“TETRA” or the “Company”) (NYSE:TTI) today announced consolidated

fourth quarter 2018 earnings per share before discontinued operations attributable to TETRA stockholders of $0.04.  This compares to a consolidated net loss of $0.06 per share before discontinued operations attributable to TETRA stockholders in the third quarter of 2018, and a consolidated net loss per share before discontinued operations attributable to TETRA stockholders of $0.22 in the fourth quarter of 2017.

 

TETRA's adjusted per share results attributable to TETRA stockholders for the fourth quarter of 2018(1), before discontinued operations and excluding special items, was a net loss per share of $0.01.  This compares to an adjusted loss per share of $0.02 in the third quarter of 2018(1) and adjusted loss per share of $0.03 in the fourth quarter of 2017(1), before discontinued operations and excluding special items.

 

Fourth quarter 2018 revenue before discontinued operations was $282 million, an increase of 10% over the third quarter of 2018 and 41% over the fourth quarter of last year.

 

Total year 2018 revenue before discontinued operations was $999 million, an increase of 38% over 2017.

 

 

(1)

Adjusted earnings/loss per share is not a generally accepted accounting principle in the United States (“GAAP”). Please see Schedule F for the reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure.)

 

Fourth Quarter 2018 Results

 

Three Months Ended

 

December 31, 2018

 

September 30, 2018

 

December 31, 2017

 

(In Thousands, Except per Share Amounts)

Revenue before discontinued operations

$

282,471

 

 

$

256,851

 

 

$

200,081

 

Income (Loss) before discontinued operations

3,316

 

 

(12,852

)

 

(31,726

)

Adjusted EBITDA before discontinued operations(2)

46,609

 

 

41,803

 

 

29,635

 

GAAP EPS before discontinued operations attributable to TETRA stockholders

0.04

 

 

(0.06

)

 

(0.22

)

Adjusted EPS attributable to TETRA stockholders(2)

(0.01

)

 

(0.02

)

 

(0.03

)

GAAP net cash provided by operating activities

44,953

 

 

            13,760

 

 

27,761

 

TETRA only adjusted free cash flow from continuing operations(2)

$

15,598

 

 

$

(558

)

 

$

4,361

 

 

 

1

 


The following information was filed by Tetra Technologies Inc (TTI) on Thursday, February 28, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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