THE WOODLANDS, Texas, July 31, 2023 /PRNewswire/ -- TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:TTI) today announced second quarter 2023 financial results. Brady Murphy, TETRA President and Chief Executive Officer, stated, "Our exceptionally strong second quarter results reflect our employees delivering operational and financial excellence in our core businesses while successfully executing on our strategy. During a time when global E&P spending is still well below the 2014 peak, our second quarter results reflect the highest quarterly revenue in the Company's history, excluding discontinued operations. Net income was $18.2 million, an improvement of 9 times compared to $1.7 million in the same period last year. Adjusted EBITDA of $36.0 million is nearly double the $18.7 million in the second quarter of last year and represents an increase of 75% from the $20.6 million in the first quarter of 2023. These operating results were achieved while simultaneously advancing our efforts regarding evaluation and development planning for bromine and lithium from our Smackover Arkansas brine leases and our produced water for beneficial reuse technology. TETRA's current business and future opportunities are exciting for all of us."
Read more at prnewswire.comhello world
Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.
