TTI - Tetra Technologies sees Q2 net income adjusted EBITDA above guidance

2023-07-05 09:41:14 ET

Tetra Technologies ( NYSE: TTI ) +1.5% in early trading Wednesday after saying it expects Q2 net income and adjusted EBITDA will exceed previous guidance , citing strong performance by its industrial calcium chloride business, strong offshore completion fluids activity and improved margins in its Water and Flowback Services segment.

Tetra ( TTI ) previously guided for Q2 net income before taxes and discontinued operations of $11.5M-$13.5M, and adjusted EBITDA of $27M-$30M.

The company also foresees Q2 revenues at the high end of prior guidance of $165M-$175M, in line with $170M analyst consensus estimate.

Tetra ( TTI ) also expects Q2 cash flow from operating activities and adjusted free cash flow from continuing operations will be "meaningfully above" Q1 levels.

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