TETRA TECHNOLOGIES INC
For the period ended Sep 30, 2024. Filed Oct 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 29, 2024
TTI$6.00+3.1%Stored close · as of Nov 6, 2026
Contents
Consolidated Statements of Operations
(In Thousands, Except Per Share Amounts)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Product sales | $71,775 | $68,967 | $241,734 | $230,719 |
| Services | 69,925 | 82,497 | 222,873 | 242,417 |
| Total revenues | 141,700 | 151,464 | 464,607 | 473,136 |
| Cost of revenues: | ||||
| Cost of product sales | 38,506 | 41,410 | 144,990 | 139,678 |
| Cost of services | 59,885 | 63,552 | 184,423 | 186,424 |
| Depreciation, amortization, and accretion | 8,837 | 8,578 | 26,367 | 25,705 |
| Impairments and other charges | 109 | — | 109 | 777 |
| Insurance recoveries | — | — | — | (2,850) |
| Total cost of revenues | 107,337 | 113,540 | 355,889 | 349,734 |
| Gross profit | 34,363 | 37,924 | 108,718 | 123,402 |
| Exploration and pre-development costs | — | 3,775 | — | 6,836 |
| General and administrative expense | 22,406 | 23,838 | 66,841 | 73,254 |
| Interest expense, net | 5,096 | 5,636 | 17,233 | 16,672 |
| Loss on debt extinguishment | — | — | 5,535 | — |
| Other income, net | (715) | (2,041) | (2,241) | (8,690) |
| Income before taxes and discontinued operations | 7,576 | 6,716 | 21,350 | 35,330 |
| Provision for income taxes | 4,744 | 1,248 | 9,963 | 5,612 |
| Income before discontinued operations | 2,832 | 5,468 | 11,387 | 29,718 |
| Discontinued operations: | ||||
| Loss from discontinued operations, net of taxes | (5,830) | (48) | (5,830) | (68) |
| Net income (loss) | (2,998) | 5,420 | 5,557 | 29,650 |
| Loss attributable to noncontrolling interests | — | — | 3 | 25 |
| Net income (loss) attributable to TETRA stockholders | $(2,998) | $5,420 | $5,560 | $29,675 |
| Basic net income (loss) per common share: | ||||
| Income from continuing operations | $0.02 | $0.04 | $0.09 | $0.23 |
| Loss from discontinued operations | (0.04) | — | (0.04) | — |
| Net income (loss) attributable to TETRA stockholders | $(0.02) | $0.04 | $0.05 | $0.23 |
| Weighted average basic shares outstanding | 131,579 | 129,777 | 131,100 | 129,395 |
| Diluted net income (loss) per common share: | ||||
| Income from continuing operations | $0.02 | $0.04 | $0.09 | $0.23 |
| Loss from discontinued operations | (0.04) | — | (0.04) | — |
| Net income (loss) attributable to TETRA stockholders | $(0.02) | $0.04 | $0.05 | $0.23 |
| Weighted average diluted shares outstanding | 132,029 | 132,089 | 132,093 | 130,835 |
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