- Tetra Technologies (TTI +26%) accelerates its surge following Q2 earnings that nearly doubled analyst expectations and revenues that jumped a much higher than expected 31% Y/Y; shares have jumped more than 30% in two days.
- TTI even enjoyed Q2 growth in its important completion fluids segment, where revenue increased only slightly more than 5% but net income soared 91% and margins rose to 26.6% from 14.6% in the prior year due to reduced costs; the segment's strength made up for the losses in other areas such as production testing and offshore services, which declined in revenue and operational profits.
- TTI issued upside guidance for Q3, seeing EPS of $0.07-$0.09 vs. $0.02 analyst consensus estimate.