TETRA Technologies Updates FY Guidance - Quick Facts

(RTTNews) - TETRA Technologies, Inc. (TTI) announced the company expects total year 2018 revenue from continuing operations to be between $965 million and $1.005 billion, up from the prior guidance of $945 million and $985 million. The company now expects consolidated adjusted EBITDA of between $170 million and $190 million, up from the prior guidance of $168 million and $188 million. The company noted that the increased revenue and adjusted EBITDA is reflecting the higher new equipment sales for CSI Compressco. Total year projected loss before taxes is expected to be between $16.9 million and $35.9 million, compared to the prior guidance of $7.5 and $27.5 million, reflecting the second quarter non-cash expenses partially offset by the higher CSI Compressco equipment sales EBITDA.

TETRA's adjusted per share results attributable to TETRA stockholders for the second quarter of 2018, before discontinued operations excluding special items, were earnings per share of $0.03. This is compared to adjusted earnings per share of $0.02 in the second quarter of 2017 before discontinued operations.

Second quarter 2018 revenue before discontinued operations was $260 million, an increase of 45% from the second quarter of last year.