TETRA Q2 revenue $102M (+32% QoQ); net loss narrows; secures deepwater awards and low carbon milestones

TETRA TECHNOLOGIES INC

2021-Q2 EPS reported $0.81 revenue$179,650,000

Revenue $102M, sequential increase of 32%; net loss from continuing ops $6.7M vs $11.9M in Q1; adjusted EPS loss $0.02.
Adjusted EBITDA $13.0M, up 44% QoQ; operating cash flow $1.8M; adjusted free cash flow negative $4.5M.
Term loan reduced to $184.2M from $220.5M in Sep 2020; ABL extended to May 2025, availability increased $9.4M.
Awarded 3-year completion fluids contract with GoM super major and multi-year contract for deepwater Brazil.
Invested $5M in CarbonFree; first commercial PureFlow order; Standard Lithium feasibility study; MOU with Anson Resources.

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