NYSE$TTI
TETRA Technologies Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Announced second quarter 2022 financial results and lithium and bromine brine sampling results from exploratory well
TETRA Technologies reported a strong second quarter in 2022 with revenue of $141 million, an 8% increase from the previous quarter and a 38% increase year-over-year. Net income before discontinued operations was $1.8 million, and adjusted EBITDA was $18.7 million. The company also made significant progress on its low carbon energy opportunities, including positive results from lithium and bromine brine sampling.
- Second quarter revenue increased 38% year-over-year, reaching $141 million.
- Net income before discontinued operations was $1.8 million, inclusive of $4.9 million of non-recurring charges and expenses.
- Adjusted EBITDA was $18.7 million for the quarter.
- The company saw positive results from lithium and bromine brine sampling, with higher concentration levels compared to previously reported exploration targets.
Headline financials
Revenue & EPS history
TETRA · Revenue · Quarterly
$141M
Revenue by segment
TETRA · $175M total across 2 segments · Q2 2023
- Completion Fluids & Products$98.2M—56.0%
- Water & Flowback Services$77.2M—44.0%
Forward guidance
Company did not provide specific forward guidance, but expressed optimism about the oil and gas sector, low carbon energy opportunities and broader earnings base.
Tailwinds
- Strong results in the early stages of a longer term up cycle for the oil and gas sector.
- Significant progress on low carbon energy opportunities.
- Gaining market share with broad customer acceptance of our integrated water management business model.
- Strong utilization and higher pricing for the TETRA Sandstorm technology.
- New automated drill out technology is expected to reduce well site personnel by more than 30%, reduce rig up/down time by approximately 40%, and reduce HSE exposure.
Headwinds
- Unprecedented inflation challenges for fuel, labor and equipment in the U.S.
- The Russia/Ukraine war impacting European supply chain.
- U.S. market growth is limited by availability of additional frac fleets.
- Adjusted EBITDA margins were down from the first quarter and down year-on-year due to revenue mix and some inflationary costs on our European industrial chemicals business.
- Force majeure declaration from a key raw materials supplier, resulting in lower production levels and under absorption at our Kokkola, Finland plant.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+1.8%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-1.8%
Avg return
30 days after
52%
35 / 67 earnings
Positive
+37.4%
Q2 2015
Best reaction
-18.7%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | -4.5% | +5.0% | |
| Q4 2025 | -18.7% | -23.9% | -22.6% | |
| Q3 2025 | -7.6% | -7.8% | -0.1% | |
| Q1 2025 | +3.3% | -1.4% | -2.9% | |
| Q4 2024 | -4.1% | -11.5% | -12.0% | |
| Q3 2024 | +14.2% | +3.5% | +21.5% | |
| Q2 2024 | -0.6% | -13.0% | -12.2% | |
| Q1 2024 | -18.0% | -12.4% | -18.2% | |
| Q4 2023 | +5.7% | +2.3% | +14.8% | |
| Q3 2023 | -14.6% | -17.8% | -15.3% | |
| Q2 2023 | +14.4% | +20.5% | +26.7% | |
| Q1 2023 | -1.8% | +2.5% | -8.8% | |
| Q4 2022 | -8.0% | -7.0% | -33.1% | |
| Q3 2022 | -16.0% | -12.1% | -20.8% | |
| Q2 2022 | -10.7% | -15.1% | -9.1% | |
| Q1 2022 | +19.6% | +22.6% | +48.6% | |
| Q4 2021 | +5.4% | +18.4% | +32.0% | |
| Q3 2021 | +12.1% | +19.2% | -22.6% | |
| Q2 2021 | +9.1% | +7.1% | +1.6% | |
| Q1 2021 | +30.1% | +38.6% | +51.0% | |
| Q4 2020 | +9.1% | +3.3% | +14.0% | |
| Q3 2020 | -1.5% | -1.8% | +50.9% | |
| Q2 2020 | -0.8% | -15.5% | -14.1% | |
| Q1 2020 | +14.3% | +12.2% | -2.4% | |
| Q4 2019 | -11.9% | -24.5% | -74.8% | |
| Q3 2019 | -16.3% | -21.2% | -31.0% | |
| Q2 2019 | +23.0% | +33.1% | +18.0% | |
| Q1 2019 | -2.8% | -2.8% | -31.1% | |
| Q3 2018 | -10.8% | -21.3% | -40.8% | |
| Q2 2018 | +13.4% | +18.2% | +1.7% | |
| Q1 2018 | +8.3% | +10.0% | +3.3% | |
| Q4 2017 | -3.7% | +2.4% | +0.3% | |
| Q3 2017 | +17.8% | +13.3% | +26.9% | |
| Q2 2017 | -15.6% | -16.9% | -15.6% | |
| Q1 2017 | +11.7% | +7.1% | -1.9% | |
| Q4 2016 | -0.4% | -3.8% | -9.4% | |
| Q3 2016 | -5.4% | +6.2% | +13.7% | |
| Q2 2016 | -1.7% | -1.9% | -0.3% | |
| Q1 2016 | -11.3% | — | — | |
| Q4 2015 | -6.0% | — | — | |
| Q3 2015 | +13.8% | — | — | |
| Q2 2015 | +37.4% | — | — | |
| Q1 2015 | +7.0% | — | — | |
| Q4 2014 | +10.2% | — | — | |
| Q3 2014 | -7.0% | — | — | |
| Q2 2014 | +1.5% | — | — | |
| Q1 2014 | -5.6% | — | — | |
| Q4 2013 | -1.7% | — | — | |
| Q3 2013 | -3.1% | — | — | |
| Q2 2013 | +14.4% | — | — | |
| Q1 2013 | -3.8% | — | — | |
| Q4 2012 | -0.3% | — | — | |
| Q3 2012 | +8.4% | — | — | |
| Q2 2012 | +0.1% | — | — | |
| Q1 2012 | +3.7% | — | — | |
| Q4 2011 | -6.5% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | +8.9% | — | — | |
| Q1 2010 | +8.9% | — | — | |
| Q1 2011 | +3.8% | — | — | |
| Q4 2010 | +2.1% | — | — | |
| Q4 2008 | +2.1% | — | — | |
| Q3 2009 | +0.8% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2009 | +3.2% | — | — | |
| Q4 2009 | +3.2% | — | — | |
| Q2 2010 | +3.2% | — | — |
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