Why Shares of TETRA Technologies Inc. Plunged Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of TETRA Technologies dropped 8% today after the company reported earnings.
So what: First-quarter revenue was up 2.1% from a year ago to $212.9 million, but was well below the $220.9 million consensus estimate. On the bottom line, adjusted loss was $4.1 million, or $0.04 per share, which was $0.09 short of the consensus.
Now what: Weather delayed some U.S. operations in the first quarter, while project and testing delays in the U.S. and Mexico also affected earnings. A lot of these things are out of management's control, but they're concerning for investors. Management kept its guidance for 2014 flat, but continued delays would have a negative impact on shares over the next few quarters.
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The article Why Shares of TETRA Technologies Inc. Plunged Today originally appeared on Fool.com.Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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