Why TETRA Technologies Stock Rallied as Much as 15% Today
Shares of energy-services provider TETRA Technologies (NYSE: TTI) rose as much as 15% in morning trading on May 4. At roughly noon EDT, they were still clinging to a 12% gain. The story here was earnings-driven, but it really wasn't a simple quarter.
TETRA Technologies had revenue of $77 million in the first quarter of 2021, up about 2% sequentially from the fourth quarter of 2020. It was, however, lower by around 42% compared to the same quarter last year.
On the bottom line, the company reported an adjusted loss of $0.04 per share, $0.01 worse than the final quarter of 2020 and $0.08 lower than the same period the previous year. None of this is particularly good news, though the energy-services provider generated positive free cash flow.
Source Fool.com
