Tetra Technologies: 3Q Earnings Snapshot
THE WOODLANDS, Texas (AP) _ Tetra Technologies Inc. (TTI) on Thursday reported a third-quarter loss of $6.9 million, after reporting a profit in the same period a year earlier.
The The Woodlands, Texas-based company said it had a loss of 6 cents per share. Losses, adjusted for one-time gains and costs, came to 2 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The oil and gas services company posted revenue of $215.5 million in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $260 million.
Tetra Technologies expects full-year revenue in the range of $975 million to $1 billion.
The company’s shares closed at $3.43. A year ago, they were trading at $3.10.