Oilfield services company TETRA Technologies (NYSE: TTI) will be reporting results this Wednesday after the bell. Here’s what to look for.
TETRA Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $146.7 million, up 9.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA 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 decline 3.8% year on year, a reversal from the 4.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Noble Corporation’s revenues decreased 10.2% year on year, beating analysts’ expectations by 6.8%, and World Kinect reported revenues up 2.5%, topping estimates by 10.4%. Noble Corporation traded up 8.2% following the results while World Kinect was also up 10.9%.
Read our full analysis of Noble Corporation’s results here and World Kinect’s results here.
Investors in the oilfield services segment have had steady hands going into earnings, with share prices flat over the last month. TETRA Technologies is up 16.7% during the same time and is heading into earnings with an average analyst price target of $12.50 (compared to the current share price of $9.79).
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