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TETRA Technologies (TTI) investor relations material
TETRA Technologies Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record financial performance in 2025, with full-year revenue up 5% to $631 million and Adjusted EBITDA up 14% to $113.6 million, despite challenging U.S. oil and gas market and global volatility.
Completion fluids, West Memphis plant, and calcium chloride businesses all set revenue and adjusted EBITDA records, with significant growth in produced water recycling and desalination.
Significant progress on strategic projects, including new bromine plant, expansion into desalination and magnesium production, and patent protection for desalination technology.
Transition in CFO role with a planned, orderly handover to ensure continuity.
Loss from continuing operations in Q4 was $15.3 million due to $18.7 million in unusual charges; adjusted net income per share was $0.02 for Q4 and $0.26 for the year.
Financial highlights
Q4 revenues were $146.7 million, up 9% year-over-year; full-year revenues reached $631 million, the highest in a decade.
Completion fluids and products revenue in Q4 was $83.7 million, up 22% year-over-year; adjusted EBITDA margin at 28.2%.
Free cash flow from base business was $83 million for 2025, exceeding the $50 million target.
Consolidated free cash flow, including Arkansas investments, was $33 million; year-end cash was $72.6 million; net debt reduced to $109 million; net leverage ratio improved to 1.1x.
Q4 Adjusted EBITDA was $20.4 million; full-year Adjusted EBITDA margin was 18.0%.
Outlook and guidance
Expect modest overall growth in 2026, with incremental revenue from electrolyte business and Argentina contracts.
Completion fluids and products adjusted EBITDA margins projected at 25%-30% in 2026 due to higher bromine costs.
Water and flowback services margins expected to improve to mid-teens in 2026, driven by technology and international growth.
Bromine plant on track for Q4 2027 completion, with potential for earlier delivery.
Strategic goal to double revenue and triple Adjusted EBITDA by 2030 remains on track.
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