Oilfield services company TETRA Technologies (NYSE: TTI) will be announcing earnings results this Monday afternoon. Here’s what to look for.
TETRA Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $185.7 million, up 6.8% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and EPS in line with analysts’ estimates.
Is TETRA Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting TETRA Technologies’s revenue to grow 1.8% year on year, slowing from the 8.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. TETRA Technologies has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at TETRA Technologies’s peers in the oilfield services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. ProPetro delivered year-on-year revenue growth of 20.9%, beating analysts’ expectations by 14.1%, and NOV reported revenues up 2.3%, topping estimates by 1.5%. ProPetro traded up 4.1% following the results while NOV was down 6.2%.
Read our full analysis of ProPetro’s results here and NOV’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 6.2% on average over the last month. TETRA Technologies is down 2.4% during the same time and is heading into earnings with an average analyst price target of $11.13 (compared to the current share price of $5.86).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
