TETRA Technologies Inc. (TTI) shares fell 1.27% in after-hours on Monday, August 2, 2021, and closed the daily trading at $3.10 per share. Earlier in the regular trading session, TTI’s stock gained 1.62%. TTI shares have risen 366.50% over the last 12 months, and they have moved down 5.14% in the past week. Over the past three months, the stock has gained 26.10%, while over the past six months, it has declined 112.16%.
TTI recent financial results announcement
On Aug. 2, 2021, TETRA Technologies, Inc (TTI) announced its second-quarter 2021 financial results.
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Q2 2021 financial highlights
- For Q2 2021 revenue was $102.3 million compared to $96.1 million in Q2 2020.
- The total cost of revenue was $86 million in Q2 2021 compared to $80.3 million in Q2 2020.
- TTI suffered a net loss of $6.7 million or net loss per share of $0.05 in Q2 2021 compared to a net loss of $13.2 million or net loss per share of $0.11 in Q2 2020.
- Adjusted EBITDA was $13.0 million in Q2 2021 compared to $9 million in Q2 2020.
- Cash flow from operating activities was $1.8 million in the second quarter of 2021 compared to $38.2 million in the second quarter of 2021.
TTI initial Lithium and Bromine reserve assessment
On August 2, 2021, TETRA Technologies, Inc (TTI) completed a preliminary technical assessment by an independent geological consulting firm to assess lithium and bromine exploration targets of the Company’s approximately 31,100 net acres of brine leases in the Smackover Formation in Southwest Arkansas.
The technical assessment has identified a brine exploration target estimated to contain between 2.54 and 8.58 million tons of elemental bromine and for lithium, the exploration target is estimated to contain between 16,000 and 53,000 tons of elemental lithium.
TTI inauguration on Russell 3000 Index
On June 28, 2021, TETRA Technologies, Inc joined the broad-market Russell 3000® Index after the 2021 Russell indexes annual reconstitution according to a preliminary list of additions made public on June 4, 2021.
Participation in the recent conferences
TETRA Technologies, Inc (TTI) recently participated in the 2021 RBC Capital Markets Global Energy, Power & Infrastructure Conference which was held on Wednesday, June 9, 2021. The company was presented by President and Chief Executive Officer, Brady Murphy.
The company also took part in the virtual Cowen Sustainability & Energy Transition Summit which was held on Tuesday, June 8, 2021.
The TTI stock price fluctuated on Monday after the company announced its financial results and preliminary assessment of its Lithium and Bromine reserve. TTI stock can perform well in the coming days based on its recent developments.