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TETRA Technologies Shareholders Approve Revised Equity Incentive Plan and Elect Board Members

At its annual meeting, TETRA Technologies, Inc. secured shareholder approval for the Third Amended and Restated 2018 Equity Incentive Plan, increasing available shares under the plan by 4 million and implementing governance enhancements such as a prohibition on paying dividends on unvested awards.

All eight director nominees were re-elected, including Chairman Thomas R. Bates, Jr., and CEO Brady M. Murphy. Mark E. Baldwin, as previously disclosed, concluded his board service.

Additionally, shareholders approved the company's executive compensation in a non-binding advisory vote and ratified the appointment of Grant Thornton LLP as the independent auditor for fiscal 2025.
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M
ME NEWS 06-13-25
TETRA Technologies Reports Record Adjusted EBITDA for Q1 2025, Raises First-Half Outlook

THE WOODLANDS, TEXAS – TETRA Technologies, Inc. (NYSE: TTI) reported strong financial results for the first quarter of 2025, achieving a record adjusted EBITDA of $32.3 million, a 41% sequential increase, driven primarily by the Completion Fluids & Products segment. The company also updated its first-half 2025 guidance, reflecting improved visibility and operational momentum.

Q1 2025 Financial Highlights:
Revenue: $157 million, up 17% sequentially and 4% year-over-year

Adjusted EBITDA: $32.3 million, up from $22.8 million in Q4 2024

GAAP EPS: $0.03 | Adjusted EPS: $0.11

Net cash from operations: $3.9 million

Free cash flow from base business: $15.4 million

Capital expenditures: $18 million, including $11.2 million for Arkansas bromine project

Segment Performance:
???? Completion Fluids & Products

Revenue: $93 million

Adjusted EBITDA: $33.2 million (35.7% margin)

Driven by increased demand for TETRA CS Neptune fluids and European chemical sales

???? Water & Flowback Services

Revenue: $64 million

Adjusted EBITDA: $8.3 million (13.0% margin)

Margins remained stable despite weak U.S. frac activity

Outlook & Guidance:
TETRA raised its first-half 2025 Adjusted EBITDA guidance to $57M–$65M (previously $55M–$65M). Revenue guidance was revised to $315M–$345M, slightly lower on the low end, reflecting timing shifts in project execution. Adjusted net income before taxes is expected between $24M–$35M.

CEO Brady Murphy highlighted a favorable deepwater outlook, the ongoing ramp-up of electrolyte sales to Eos Energy, and commercial interest in the company’s water desalination technology, which targets the treatment of produced water in the Permian Basin.

Strategic and Growth Developments:
Arkansas bromine project remains on track with regulatory approval for the Evergreen Unit expansion and first production wells planned

Lithium upside via royalty rights through a joint venture with Standard Lithium

Commercial pilot launched with EOG Resources for water desalination using TETRA Oasis TDS

TETRA reaffirmed its strategic role as a key supplier to Eos Energy’s Z3™ utility-scale battery platform

Financial Position:
Liquidity: $208 million as of Q1-end, increased to $220 million by late April

Cash: $41 million | Net Debt: $139 million

Net leverage ratio: 1.5x

Return on net capital employed (RONCE): 16.4%
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M
ME NEWS 04-30-25