Ultime notizie per Tetra Technologies (NYSE:TTI) Azioni

Tetra Technologies

Tetra Technologies Inc is a diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, and compression services. It has two reporting segments namely Completion Fluids & Products, and Water & Flowback Services. The Completion Fluids & Products Division manufactures and markets clear brine fluids, additives, and associated products and services. The Water & Flowback Services Division provides onshore oil and gas operators with comprehensive water management services. The company derives maximum revenue from United states.

Tetra Technologies Inc

THIOGENESIS THERAPEUTICS by THIOGENESIS THERAPEUTICS CORP.

Thiogenesis Therapeutics Corp

TERTIARY MINERALS PLC ORD by Tertiary Minerals Plc

Tertiary Minerals PLC

TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) today released on its investor relations website an S-K 1300 Bromine Definitive Feasibility Study ("DFS") containing positive results including certain financial information on the development of TETRA's Arkansas bromine assets in the Evergreen Unit based on engineering studies, reservoir analysis, certain cost and revenue assumptions, plus quotes received on major components received or completed to date.&nbsp; The Technical Report Summary ("TRS") was prepared to update the previously reported resources presented by RESPEC Company, LLC ("RESPEC") and incorporates the results of the definitive feasibility study, including bromine reserve determinations.
TETRA currently sources elemental bromine from a combination of long-term supply agreements and open-market purchases.&nbsp; TETRA uses this third-party sourced elemental bromine to manufacture at its West Memphis, Arkansas facility, offshore completion fluids for the oil and gas industry and ultra-high purity zinc bromide (TETRA PureFlow) utilized in battery electrolytes for long-duration energy storage ("LDES").&nbsp; TETRA's facility uses proprietary processes for reacting elemental bromine with various other raw materials and refining the resultant brominated products.&nbsp; Development of its Arkansas bromine assets will allow TETRA to become vertically integrated (referred to herein as the "Vertically Integrated Production Case") for its future elemental bromine requirements and is expected to allow TETRA to phase out third-party purchases of elemental bromine over time.
The highlights of the DFS report are as follows:
<ul>
<li>Vertically Integrated Production Case Net Present Value ("NPV"), at a 10% discount rate, of $710 million and is based on the current bromine business plus the proposed investment in this bromine project allowing TETRA to phase out third-party sourced elemental bromine. This case compares to TETRA's current bromine business with third-party purchases of elemental bromine of NPV $337 million ("Third-Party Bromine Purchase Only Case"), also at a 10% discount rate. This project is projected to create an incremental NPV of $374 million.(1)</li>
<li>Internal Rate of Return ("IRR") of 62% for the Vertically Integrated Production Case. (1)</li>
<li>744 ktons of measured and indicated bromine resources have been upgraded to proven and probable reserves. In addition to proven and probable reserves, the Evergreen Unit is estimated to contain an additional 158 ktons of measured and indicated resources and 541 ktons of inferred resources of bromine.</li>
<li>40-year projected operating life. Proven and probable bromine reserves of 744 ktons plus measured and indicated bromine resources of 158 ktons support at least 40 years of operations based on reservoir studies completed by TETRA's advisors and consultants. (1)</li>
<li>Phase I plant processing is expected to have a capacity of 75 million lbs of bromine per year. The project economics reflect initial production volumes of only 48 million pounds of elemental bromine per year, increasing the volumes currently being sourced by TETRA under long-term contract by over 50%.</li>
<li>Post Final Investment Decision ("FID") capital expenditures of $270 million assumes that 35% of the upstream capital expenditures are absorbed by TETRA's partner in the Evergreen Brine Unit and does not assume a lithium project is constructed at the same time as the bromine project. If the lithium project is constructed, certain upstream, common and shared capital expenditures have the potential to be allocated to the lithium project, materially improving the overall economics of the bromine project. Costs incurred prior to FID are not reflected in these economics as they are viewed as sunk costs.</li>
<li>The increased volumes and enhanced margins from TETRA moving from a Third-Party Bromine Purchase Only Case to a Vertically Integrated Production Case are expected to position TETRA to increase revenue from bromine-related product by between $200 million to $250 million when the bromine plant is in full production. Adjusted EBITDA is expected to increase by between $90 million to $115 million as a result of the higher sales volumes for the offshore oil and gas sector, long-duration energy battery storage, and the lower production costs of those products from being vertically integrated when compared against third-party purchases of elemental bromine.(1) Once a FID is made, plant construction is expected to be approximately 24 months.</li>
<li>Payback of post-FID capital expenditures is expected to be 5.7 years reflecting the higher volumes available to TETRA from insourcing all its elemental bromine requirements at costs lower than what the Company is procuring today.(1)</li>
<li>TETRA's approximately $400 million of United States tax loss carryforward are expected to be utilized for this project and are reflected in the economics.</li>
<li>TETRA is expected to fund this project from borrowing under credit facilities currently available to the Company, which includes a $75 million delayed draw facility, and from cash flow from the existing business. The timing of this project will be aligned to ensure the base business free cash flow is available to the Company. TETRA intends to maintain a net leverage target of less than 2.5 times adjusted EBITDA on a trailing twelve-month basis.</li>
</ul>
Because this investment is expected to enable TETRA to vertically integrate its elemental bromine supply, the following benefits to TETRA are anticipated:
<ul>
<li>Enhanced Margins: TETRA expects to eventually replace the purchase of elemental bromine from third party suppliers with lower cost insourced elemental bromine as a result of the investment in this project. The volatility of open market elemental bromine purchases are also expected to be reduced from the prices TETRA pays third parties, allowing TETRA to bid for long-term contracts with greater certainty of input costs. Increased production volumes manufactured through TETRA's West Memphis plant allows for greater utilization and better plant costs absorption. &nbsp;</li>
<li>Provide Higher Volumes of Cost-Effective Bromine: In recent years, TETRA has had to purchase more elemental bromine at spot-market prices because the volumes available from TETRA's long-term supply agreement have not been sufficient to meet overall demand for a growing offshore oil and gas market. This increase in offshore deepwater demand combined with an expected growth in demand for TETRA PureFlow ultra-high purity zinc bromide-based electrolyte will exceed TETRA's currently available third-party supply volumes. This project is expected to allow TETRA to meet those requirements.</li>
</ul>

News

Tetra Technologies Announces Completion Of Definitive Feasibility Study For The Arkansas Bromine Project And Upgrade Of Previously Announced Bromine Resources To Reserves

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Shares of oil and gas stocks are trading lower despite Middle East tensions. Weak US economic data may be weighing on demand outlook.

Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) reported quarterly earnings of $0.07 per share which missed the analyst consensus estimate of $0.10 by 30 percent. This is a 46.15 percent decrease over earnings of $0.13 per share from the same period last year. The company reported quarterly sales of $171.935 million which missed the analyst consensus estimate of $181.484 million by 5.26 percent. This is a 2.01 percent decrease over sales of $175.463 million the same period last year.

Earnings

Earnings Misses

Tetra Technologies Q2 2024 Adj. EPS $0.07 Misses $0.10 Estimate, Sales $171.935M Miss $181.484M Estimate

Halliburton (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hal#NYSE">HAL</a>) came out with quarterly earnings of $0.80 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this provider of drilling services to oil and gas operators would post earnings of $0.74 per share when it actually produced earnings of $0.76, delivering a surprise of 2.70%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Halliburton, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $5.83 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.98%. This compares to year-ago revenues of $5.8 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Halliburton shares have added about 0.8% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.2%.
What&#39;s Next for Halliburton?
While Halliburton has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Halliburton: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.88 on $6.18 billion in revenues for the coming quarter and $3.36 on $24.22 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Tetra Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tti#NYSE">TTI</a>), another stock in the same industry, has yet to report results for the quarter ended June 2024. The results are expected to be released on July 31.
This oil and gas services company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of -23.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Tetra Technologies&#39; revenues are expected to be $180.66 million, up 3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2305011/halliburton-hal-q2-earnings-match-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2305011">To read this article on Zacks.com click here.</a>

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Trading Ideas

Halliburton Q2 Earnings Match Estimates

<h3>Gainers</h3>
<ul>
<li>Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) stock rose 4.9% to $3.63 during Tuesday's after-market session. The market value of their outstanding shares is at $476.0 million. </li>
<li>TXO Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXO#NYSE">TXO</a>) shares increased by 4.84% to $21.02. The company's market cap stands at $650.3 million. </li>
<li>Comstock (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/LODE#AMEX">LODE</a>) stock rose 4.53% to $0.23. The market value of their outstanding shares is at $32.4 million. </li>
<li>Enservco (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ENSV#AMEX">ENSV</a>) stock moved upwards by 3.94% to $0.26. The company's market cap stands at $7.0 million. </li>
<li>Enviva (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVA#NYSE">EVA</a>) stock rose 3.31% to $0.58. The company's market cap stands at $43.1 million. </li>
<li>FutureFuel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FF#NYSE">FF</a>) shares rose 2.06% to $4.45. The market value of their outstanding shares is at $194.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Atlas Energy Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AESI#NYSE">AESI</a>) shares decreased by 2.7% to $21.4 during Tuesday's after-market session. The company's market cap stands at $2.3 billion. </li>
<li>Tellurian (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/TELL#AMEX">TELL</a>) shares decreased by 1.97% to $0.56. The market value of their outstanding shares is at $471.3 million. </li>
<li>Noble Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) shares fell 0.82% to $42.55. The market value of their outstanding shares is at $6.0 billion. </li>
<li>Houston American Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/HUSA#AMEX">HUSA</a>) stock declined by 0.76% to $1.31. The market value of their outstanding shares is at $14.2 million. </li>
<li>Crescent Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRGY#NYSE">CRGY</a>) shares decreased by 0.75% to $12.37. The company's market cap stands at $1.3 billion. </li>
<li>NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) stock decreased by 0.35% to $17.22. The company's market cap stands at $6.8 billion. 
See Also: <a href="http://www.benzinga.com/money/best-energy-stocks/" title="www.benzinga.com/money/best-energy-stocks/">www.benzinga.com/money/best-energy-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

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LODE

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12 Energy Stocks Moving In Tuesday's After-Market Session

Benchmark analyst Kurt Hallead reiterates Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) with a Buy and maintains $8 price target.

Price Target

Reiteration

Benchmark Reiterates Buy on Tetra Technologies, Maintains $8 Price Target

ENLC

Shares of oil and gas companies are trading lower amid weakness in oil following a build of US crude inventories.

Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) reported quarterly earnings of $0.05 per share which beat the analyst consensus estimate of $0.03 by 66.67 percent. This is a 66.67 percent increase over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $150.972 million which missed the analyst consensus estimate of $153.646 million by 1.74 percent. This is a 3.26 percent increase over sales of $146.209 million the same period last year.

Earnings Beats

Tetra Technologies Q1 2024 Adj EPS $0.05 Beats $0.03 Estimate, Sales $150.972M Miss $153.646M Estimate

EF Hutton analyst Tim Moore reiterates Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) with a Buy and maintains $9 price target.

EF Hutton Reiterates Buy on Tetra Technologies, Maintains $9 Price Target

Tetra Technologies shares are trading higher after the company reported mixed Q4 financial results.

Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.06 by 50 percent. The company reported quarterly sales of $153.13 million which beat the analyst consensus estimate of $150.05 million by 2.05 percent. This is a 3.85 percent increase over sales of $147.45 million the same period last year.

Tetra Technologies Q4 2023 Adj EPS $0.03 Misses $0.06 Estimate, Sales $153.13M Beat $150.05M Estimate

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Earnings Scheduled For February 27, 2024

Northland Capital Markets analyst Greg Gibas initiates coverage on Tetra Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) with a Outperform rating and announces Price Target of $6.

Initiation

Northland Capital Markets Initiates Coverage On Tetra Technologies with Outperform Rating, Announces Price Target of $6

Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)&#8217;s <a href="https://www.benzinga.com/news/earnings/24/02/36909483/exxons-q4-surprise-beats-earnings-expectations-despite-revenue-dip-embarks-on-bold-ev-and-lng-ventu">recent earnings announcement</a> closed up another successful year in which the company delivered $36 billion in earnings. 
Despite operating some of the most lucrative global oil projects, the company understands the inevitability of energy transition, deciding to launch a lithium operation in Arkansas.
Through Mobil Lithium, Exxon <a href="https://corporate.exxonmobil.com/news/news-releases/2023/1113_exxonmobil-drilling-first-lithium-well-in-arkansas">plans</a> to produce lithium for one million electric vehicles per year by 2030. This ambitious plan starts by choosing lithium filtration technology — including one of the unproven direct lithium extraction (DLE) technologies, which the company has been rigorously testing at a pilot plant in Houston.
Patrick Howarth, head of Exxon's lithium business, clarified the situation at the ongoing Arkansas Lithium Innovation Summit in Little Rock.
&#8220;DLE is a small part of a really complicated process that has many different steps. We&#8217;re really focused on how do they interact with one another,&#8221; he said in front of over 600 energy sector executives, policymakers and stakeholders participating in the inaugural conference.
Now read: <a href="https://www.benzinga.com/news/24/02/37156929/south32s-2-16b-mining-investment-in-arizona-supports-bidens-clean-energy-vision">South32&#8217;s $2.16B Mining Investment In Arizona Supports Biden&#8217;s Clean Energy Vision</a>
The direct lithium extraction method, involving the filtration of lithium directly from brine without traditional evaporation ponds, has been a key focus for Exxon. This innovative approach promises more cost-effective and environmentally responsible lithium production than conventional methods.
"This could be a big boom for our state,&#8221; Arkansas Gov. Sarah Huckabee Sanders told Reuters.
Environmental responsibility is the focus of local policymakers who support Exxon's desire to make Arkansas the epicenter of the domestic lithium industry.
&#8220;There are plenty of reasons for us to be bullish on Arkansas lithium. Frankly, we can do it cleaner here than it's produced anywhere else in the world. No strip mining or huge evaporation ponds. Just wells that extract brine straight out of the ground. We can ensure America has a supply of this critical material, almost all of which currently comes from overseas, in large part from our number one adversary," Sanders said.
Exxon is working in <a href="https://www.benzinga.com/news/large-cap/23/06/33054847/exxon-mobils-strategic-shift-enters-second-lithium-venture-in-bid-to-boost-us-ev-supply-chain">partnership with Tetra Technologies</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>), an industry leader with patented technology for bromine production. A successful large-scale application of DLE technology would be a big win for Arkansas and a step forward in Exxon's diversification efforts.
Also Read: <a href="https://www.benzinga.com/news/24/02/37108506/sigma-lithium-secures-funds-for-brazilian-flagship-praises-significantly-lower-interest-rates">Sigma Lithium Secures Funds For Brazilian Flagship, Praises &#8216;Significantly Lower&#8217; Interest Rates</a> 
Photo: Shutterstock

Large Cap

Commodities

Exxon's Lithium Experiment Could Be Winner For Oil Company,  State Of Arkansas

TETRA Technologies, Inc. (&quot;TETRA&quot; or the &quot;Company&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) announced that it has entered into a definitive agreement with Silver Point Finance (&quot;Silver Point&quot; or &quot;SPF&quot;) for a&nbsp;$265 million&nbsp;credit facility with a maturity of&nbsp;January 2030, consisting of a&nbsp;$190 million&nbsp;funded term loan and a&nbsp;$75 million&nbsp;delayed-draw term loan that will refinance TETRA&#39;s existing term loan of&nbsp;$163 million&nbsp;and provide capital to advance TETRA&#39;s&nbsp;Arkansas&nbsp;bromine processing project. Pricing on the new credit facility is&nbsp;SOFR (Secured Overnight Financing Rate) +575 basis points, which is 50 basis points below TETRA&#39;s existing term loan, reflecting TETRA&#39;s strong financial position. The new credit facility closed and funded on&nbsp;January 12, 2024. TETRA used the proceeds to repay in full the&nbsp;$163 million&nbsp;balance of its prior credit facility, that was due&nbsp;September 2025, with approximately&nbsp;$15 million&nbsp;of additional cash added to the balance sheet, net of transaction expenses.&nbsp;
TETRA anticipates that between its existing liquidity, which is estimated at&nbsp;$142 million&nbsp;as of&nbsp;January 12, 2024, and free cash flow that is expected to be generated from its existing base business in 2024 and 2025, plus the&nbsp;$75 million&nbsp;delayed draw term loan, that it has the required capital for the proposed&nbsp;Arkansas&nbsp;bromine processing project.&nbsp;
&quot;We are very pleased to partner with Silver Point to refinance our existing debt. Sourcing debt at more cost-effective rates than our previous term loan and extending the maturity to&nbsp;January 2030&nbsp;reflects TETRA&#39;s strong financial position and highly favorable prospects. Silver Point is providing the remaining capital we require to fund the bromine processing project with the&nbsp;$75 million&nbsp;delayed draw feature that TETRA can draw upon as we construct our bromine processing facility,&quot; said&nbsp;Brady Murphy, President and Chief Executive Officer of TETRA.

Financing

Tetra Technologies Announced $190M 6-year Funded Term Loan To Refinance Maturing Debt And A $75M Delayed Draw Term Loan To Provide Capital For The Planned Bromine Processing Project

Eos Energy Enterprises, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eose#NASDAQ">EOSE</a>) has broadened its collaboration with&nbsp;TETRA Technologies, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tti#NYSE">TTI</a>). The two companies have been working together since 2021 to improve the quality of the electrolyte solution.
This expansion marks TETRA as the primary strategic supplier for Eos&#39;s American-made Eos Z3 energy storage cube. TETRA is set to supply at least 75% of the<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/24/01/g36553365/eos-energy-enterprises-and-tetra-technologies-inc-extend-partnership-expanding-electrolyte-product" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;electrolyte product needs moving forward.</a>
This four-year agreement, extendable beyond its initial term, includes favorable pricing and cost-saving methodologies, incentivizing both companies to pursue further cost reductions.
The high-purity zinc-bromide is central to the Eos Z3 cube&#39;s functionality, a component of Eos&#39;s patented electrolyte system. TETRA&#39;s U.S. patented manufacturing process delivers some of the highest zinc-bromide purity levels globally.
With the demand for Long Duration Energy Storage rising, Eos&#39;s partnership with TETRA is timely. TETRA&#39;s commitment to enhancing bromine production aligns with Eos&#39;s goals of scaling production, reducing costs, and enhancing battery performance and quality over the next few years.
Price Action:&nbsp;EOSE shares are trading lower by 5.32% at $0.9450, and TTI is down by 1.61% at $4.27 on Tuesday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via TETRA Technologies

Equities

Contracts

EOSE

Eos Energy Amps Up Game With TETRA: Strategic Electrolyte Supply Deal Fuels Eos Z3 Cube Expansion

Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) (&quot;Eos&quot;&nbsp;or the &quot;Company&quot;), a leading provider of safe, scalable, efficient, and sustainable zinc-based&nbsp;long duration&nbsp;energy storage systems,&nbsp;today&nbsp;expanded its partnership with TETRA Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTI#NYSE">TTI</a>) a leading global energy services and solutions company, designating TETRA as the preferred strategic supplier of electrolyte products for Eos&#39;s new, American made, Eos Z3&trade; long duration energy storage cube. TETRA is expected to supply a minimum of&nbsp;75%&nbsp;of the total electrolyte product demand going forward.
This four-year agreement is an expansion of an existing partnership between the two companies that began in 2021 and includes provisions that allow for extending the agreement beyond the initial four-year term. Eos and TETRA officials indicate that the agreement includes favorable pricing and cost savings allocation methodologies that motivate both parties to actively pursue further cost reductions.

Eos Energy Enterprises and TETRA Technologies, Extend Partnership, Expanding Electrolyte Production Capacity, Financial Terms Undisclosed

Edible Garden AG Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/edbl#NASDAQ">EDBL</a>) shares fell on Monday following third-quarter results.
Edible Garden posted a quarterly loss of 69 cents per share, compared to a year-ago loss of $7.20 per share, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>. The company&rsquo;s quarterly sales came in at $3.29 million.
Edible Garden shares fell on Monday fell 17.6% to $0.5315 during Monday&rsquo;s session.
<h3>Gainers</h3>
<ul>
<li>Tenax Therapeutics, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tenx#NASDAQ">TENX</a>) shares jumped 130% to $0.3588 after the company announced FDA clearance of IND for TNX-103 for the treatment of pulmonary hypertension with heart failure with preserved ejection fraction.</li>
<li>Tivic Health Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tivc#NASDAQ">TIVC</a>) gained 81.3% to $2.1750. BestGrowthStocks.Com issued comprehensive analysis of Tivic Health Systems.</li>
<li>MSP Recovery, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lifw#NASDAQ">LIFW</a>) jumped 40.6% to $7.47.</li>
<li>ZyVersa Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zvsa#NASDAQ">ZVSA</a>) shares climbed 35.8% to $0.09.</li>
<li>Xos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xos#NASDAQ">XOS</a>) gained 26% to $0.42.</li>
<li>Collective Audience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/caud#NASDAQ">CAUD</a>) shares climbed 23.9% to $3.6801 after jumping around 30% on Friday.</li>
<li>Montauk Renewables, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mntk#NASDAQ">MNTK</a>) gained 23% to $7.91. Scotiabank upgraded Montauk Renewables from Sector Perform to Sector Outperform and announced a $9 price target.</li>
<li>Near Intelligence, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nir#NASDAQ">NIR</a>) shares climbed 21% to $0.23 after dipping 31% on Friday.</li>
<li>Cingulate Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cing#NASDAQ">CING</a>) gained 20.5% to $0.3798.</li>
<li>INVO Bioscience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/invo#NASDAQ">INVO</a>) rose 18% to $1.5400.</li>
<li>Cyngn Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NASDAQ">CYN</a>) climbed 18% to $0.2011.</li>
<li>TETRA Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tti#NYSE">TTI</a>) gained 16.6% to $5.01. Exxon Mobil Corp is reportedly planning to unveil its long-awaited lithium strategy today. The company aims to produce at least 10,000 metric tons of lithium annually in Arkansas by 2026 in partnership with Tetra Technologies, with initial production roughly equivalent to the amount needed to produce 100,000 EV batteries, as per Reuters.</li>
<li>Cheetah Net Supply Chain Service Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctnt#NASDAQ">CTNT</a>) gained 15% to $1.30.</li>
<li>RLX Technology Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rlx#NYSE">RLX</a>) gained 15% to $1.8850.</li>
<li>Cardio Diagnostics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdio#NASDAQ">CDIO</a>) gained 14.7% to $1.17.</li>
<li>Karat Packaging Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krt#NASDAQ">KRT</a>) gained 13.6% to $21.39. Karat Packaging recently reported worse-than-expected third-quarter revenue results.</li>
<li>Penumbra, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pen#NYSE">PEN</a>) surged 13.1% to $205.28.</li>
<li>COMSovereign Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coms#NASDAQ">COMS</a>) jumped 11.8% to $1.0398.</li>
<li>Tenon Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnon#NASDAQ">TNON</a>) climbed 10.4% to $2.66.</li>
<li>monday.com Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndy#NASDAQ">MNDY</a>) surged 9.9% to $154.03 following upbeat earnings.</li>
<li>StoneCo Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stne#NASDAQ">STNE</a>) gained 9.8% to $11.77 after the company reported upbeat results for its third quarter on Friday.</li>
<li>LQR House Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lqr#NASDAQ">LQR</a>) rose 9.4% to $0.23 after gaining around 8% on Friday. The company announced the pricing of a $11 million public offering of 157,142,857 shares at $0.07 per share.</li>
<li>SenesTech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snes#NASDAQ">SNES</a>) shares gained 7.9% to $0.2580. SenesTech shares fell 31% on Friday after the company reported worse-than-expected third-quarter revenue results.</li>
<li>Cazoo Group Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/czoo#NYSE">CZOO</a>) shares gained 7.1% to $0.3749 after falling 11% on Friday.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Aclaris Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acrs#NASDAQ">ACRS</a>) shares dipped 86.8% to $0.6260 after the company announced topline results from 12-week Phase 2b trial of oral zunsemetinib for moderate to severe rheumatoid arthritis.</li>
<li>Mainz Biomed N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mynz#NASDAQ">MYNZ</a>) fell 45% to $1.23 after the company reported pricing of $5 million registered direct offering of 4,166,667 shares at $1.20 per share.</li>
<li>Verve Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verv#NASDAQ">VERV</a>) fell 45% to $8.65 after the company announced first human proof-of-concept data for in vivo base editing from the ongoing heart-1 phase 1b clinical trial of VERVE-101.</li>
<li>B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) dipped 25.1% to $19.17.</li>
<li>Safe and Green Development Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgd#NASDAQ">SGD</a>) shares fell 25% to $0.5252 after jumping 36% on Friday.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crev#NASDAQ">CREV</a>) declined 23.8% to $31.23.</li>
<li>Lifeway Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lway#NASDAQ">LWAY</a>) declined 22.8% to $9.73 following third-quarter results.</li>
<li>TRACON Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) fell 20.1% to $0.1840. TRACON Pharmaceuticals shares jumped 44% on Friday after the company reported third-quarter financial results.</li>
<li>Broadwind, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bwen#NASDAQ">BWEN</a>) fell 19% to $2.30 following weak sales.</li>
<li>Vuzix Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vuzi#NASDAQ">VUZI</a>) fell 19% to $2.08.</li>
<li>WeTrade Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wetg#NASDAQ">WETG</a>) declined 18.1% to $8.57.</li>
<li>NLS Pharmaceutics AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nlsp#NASDAQ">NLSP</a>) dipped 12.7% to $0.5448.</li>
<li>Beam Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beam#NASDAQ">BEAM</a>) fell 12.1% to $19.49.</li>
<li>Intrusion Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intz#NASDAQ">INTZ</a>) fell 12% to $0.4217. The company announced that it entered into a Securities Purchase Agreement through a $2.4 million Private Offering of 4,359,374 shares at $0.60 per share.</li>
<li>Alector, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alec#NASDAQ">ALEC</a>) declined 10.8% to $4.01.</li>
<li>Monopar Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mnpr#NASDAQ">MNPR</a>) dipped 10.5% to $0.3401 after falling over 8% on Friday. Monopar Therapeutics, last week, posted a narrower-than-expected quarterly loss.</li>
<li>GlucoTrack, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gctk#NASDAQ">GCTK</a>) shares fell 10.1% to $ 0.1420.</li>
<li>Applied Digital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apld#NASDAQ">APLD</a>) declined 10.1% to $4.2155.</li>
<li>WW International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ww#NASDAQ">WW</a>) fell 9.3% to $6.34. WW recently reported worse-than-expected third-quarter financial results.</li>
<li>eFFECTOR Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eftr#NASDAQ">EFTR</a>) shares fell 8% to $0.5425.</li>
<li>American Rebel Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/areb#NASDAQ">AREB</a>) fell 8% to $0.3250.</li>
<li>Beyond Meat, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bynd#NASDAQ">BYND</a>) fell 7.4% to $6.40.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/11/35753030/aecom-likely-to-report-higher-q4-earnings-heres-a-look-at-recent-price-target-changes-by-the-most-a"> AECOM Likely To Report Higher Q4 Earnings; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts</a>

Intraday Update

ACRS

APLD

AREB

BEAM

BWEN

CAUD

Cardio Diagnostics Holdings Inc. - Common stock

CDIO

CING

COMS

CREV

CTNT

CZOO

EDBL

EFTR

GCTK

INTZ

INVO

LIFW

LWAY

MNDY

MNPR

MNTK

MYNZ

NLSP

RILY

SNES

STNE

TCON

TENX

TIVC

TNON

VERV

VUZI

WETG

ZVSA

Why Edible Garden Shares Are Trading Lower By Around 18%? Here Are Other Stocks Moving In Monday's Mid-Day Session

U.S. stocks traded lower, with the Dow Jones falling around 40 points on Monday.
Shares of monday.com Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndy#NASDAQ">MNDY</a>) gained on Monday <a href="https://www.benzinga.com/news/earnings/23/11/35746302/project-management-platform-monday-com-reports-robust-q3-topline-growth-stock-climbs">following upbeat earnings.</a>
Monday.com posted adjusted earnings of 64 cents per share, beating market estimates of 20 cents per share. The company&rsquo;s sales came in at $189.19 million versus expectations of $182.36 million.
The company said it sees Q4 revenue of $196 million to $198 million and FY23 revenue of $723 million to $725 million.
monday.com shares climbed 9.9% to $154.03 during Monday&rsquo;s session.
Here are some big stocks recording gains in today&rsquo;s session.
<ul>
<li>Montauk Renewables, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mntk#NASDAQ">MNTK</a>) shares jumped 23% to $7.91. Scotiabank upgraded Montauk Renewables from Sector Perform to Sector Outperform and announced a $9 price target.</li>
<li>TETRA Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tti#NYSE">TTI</a>) shares rose 16.6% to $5.01. Exxon Mobil Corp is reportedly planning to unveil its long-awaited lithium strategy today. The company aims to produce at least 10,000 metric tons of lithium annually in Arkansas by 2026 in partnership with Tetra Technologies, with initial production roughly equivalent to the amount needed to produce 100,000 EV batteries, as per Reuters.</li>
<li>RLX Technology Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rlx#NYSE">RLX</a>) jumped 15% to $1.88.</li>
<li>Karat Packaging Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krt#NASDAQ">KRT</a>) rose 13.6% to $21.39. Karat Packaging recently reported worse-than-expected third-quarter revenue results.</li>
<li>Penumbra, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pen#NYSE">PEN</a>) gained 13.1% to $205.28.</li>
<li>Consensus Cloud Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ccsi#NASDAQ">CCSI</a>) gained 9.9% to $23.08. The company recently posted upbeat quarterly earnings.</li>
<li>StoneCo Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stne#NASDAQ">STNE</a>) rose 9.8% to $11.77 after the company reported upbeat results for its third quarter on Friday.</li>
<li>OneSpan Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ospn#NASDAQ">OSPN</a>) gained 8% to $10.28. OneSpan commenced a modified &quot;Dutch Auction&quot; tender offer to purchase for cash $20 million of its common stock at a price per share not less than $9.50 and not greater than $11.00.</li>
<li>Harmony Gold Mining Company Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmy#NYSE">HMY</a>) rose 7.8% to $4.82.</li>
<li>Fortrea Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftre#NASDAQ">FTRE</a>) gained 6.4% to $30.00 following strong quarterly results.</li>
<li>Henry Schein, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hsic#NASDAQ">HSIC</a>) climbed 6.2% to $68.06 following third-quarter results.</li>
<li>Spirit Airlines, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/save#NYSE">SAVE</a>) jumped 5.7% to $9.28.</li>
<li>UP Fintech Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tigr#NASDAQ">TIGR</a>) gained 5.3% to $4.96.</li>
<li>The Boeing Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) gained 4% to $204.38.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/23/11/35746303/top-4-consumer-stocks-that-may-fall-off-a-cliff-in-q4"> Top 4 Consumer Stocks That May Fall Off A Cliff In Q4</a>

CCSI

FTRE

OSPN

SAVE

TIGR

Monday.Com Reports Q3 Beat, Joins Fortrea Holdings, Henry Schein And Other Big Stocks Moving Higher On Monday

Tetra Technologies Q2 2024 Earnings Preview

Tetra Technologies Non-GAAP EPS of $0.07 misses by $0.03, revenue of $172M misses by $8.08M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Tetra Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/tti-stock-quote/">TTI</a>) just reported results for the second quarter of 2024.<ul><li>Tetra Technologies reported earnings per share of 7 cents. This was below the analyst estimate for EPS of 10 cents.</li><li>The company reported revenue of $171.94 million.</li><li>This was 5.26% worse than the analyst estimate for revenue of $181.48 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/tti-stock-earnings-tetra-technologies-for-q2-of-2024/">TTI Stock Earnings: Tetra Technologies Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

TTI Stock Earnings: Tetra Technologies Misses EPS, Misses Revenue for Q2 2024

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