Tetra Technologies, Inc. (TTI)

Shares of Tetra Technologies (TTI) dropped by 15.05% from $5.58 to $4.74 in the trading on Tuesday, October 31, 2023. The reason why TTI down is due to disappointing quarter results.

• Quarterly Earnings Miss: Tetra Technologies reported quarterly earnings of $0.07 per share, falling short of the Zacks Consensus Estimate of $0.08 per share. This contrasts with earnings of $0.02 per share in the same period a year ago. These figures are adjusted for non-recurring items, resulting in an earnings surprise of -12.50%. In the previous quarter, the company exceeded expectations by posting earnings of $0.13 per share, beating estimates by 62.50%.
• Revenue Disappointment: The company posted revenues of $151.46 million for the quarter ending September 2023, missing the Zacks Consensus Estimate by 7.70%. This figure also represents an increase compared to year-ago revenues of $135.01 million. Over the last four quarters, Tetra Technologies has exceeded consensus revenue estimates twice. The immediate trajectory of the stock's price movement, following these quarterly results and future earnings expectations, will largely hinge on the commentary provided by the management during the earnings call.