TETRA Technologies Inc. (TTI) shares gained 5.14% to trade at $3.48 in after-market on Tuesday, May 11, 2021. Earlier, TTI’s stock gained 0.91% to close Tuesday’s session at $3.31. TTI shares have surged 529.88% over the last 12 months, and they have moved up 12.20% in the past week. Over the past three months, the stock has gained 31.87%, while over the past six months, it has soared 513.08%.
Let’s discuss its recent news.
Recent financial results announcement
On May 4, 2021, TETRA Technologies, Inc released its first-quarter 2021 results.
Q1 2021 financial highlights
- TETRA Technologies earned a revenue of $77 million in Q1 2021 compared to $132.7 million in Q1 2020.
- It suffered a net loss of $11.9 million in Q1 2021 compared to $3.0 million in the first quarter of 2020.
- Net income per share attributable to TETRA stockholders in the first quarter was $0.86, compared to $0.01 in Q1 2020.
- Net loss per share attributable to TETRA stockholders was $0.04 which was the same in Q1 2020.
- Adjusted EBITDA was $9.0 million in Q1 2021 compared to $21.83 in Q1 2020.
- General and administrative expenses were $20 million in Q1 2021, the same as in Q1 2020.
- Cash flow from operating activities was $5.8 million in the first quarter of 2021 and compares to $21.9 million in the first quarter of 2020.
- At the end of the first quarter of 2021 TTI had net debt of $117 million.
TETRA TechnologiesSigned MOU with CarbonFree
OnMay 3, 2021, TETRA Technologies, Inc signed a memorandum of understanding (MOU) with CarbonFreeto jointly advance innovative carbon capture utilization and storage (CCUS) technology.
CarbonFree’sSkyCycle™ technologyusecalcium chloride as a key part of the conversion chemistry. TETRA is a global leader in the production and chemistry for many commercial applications of calcium chloride, so the Companies plan to use each other’s technical expertise, chemistry know-how, production, and supply chain networks to jointly advance the commercialization of SkyCycle™.
New board member appointment
On April 5, 2021, TETRA Technologies, Inc announced the appointment of Shawn D. Williams as a member of the Board of Directors, effective March 31, 2021. Mr Williams will serve as an independent director.
FY 2020 financial results
TETRA Technologies announced its FY 2020 results on February 24, 2021.
- TETRA Technologies revenue was $377.7 million in FY 2020 compared to $561.2 million in FY2019.
- It suffered an operating loss of $25.1 million in FY 2020 compared to $ 128.1 million in FY2019.
- Adjusted EBITDA was $49.1 million in FY 2020 compared to $64.6 million in 2019.
- Cash flow from operations (including discontinued operations) was $76.9 million in FY 2020 compared to $90.2 million in FY 2019.
Well, as of this writing we have no recent news which we could link to its positive performance on Tuesday. Also, it is hard to predict how TTI stock will perform in the coming days.