TETRA TECHNOLOGIES INC SEC 10-Q Report

TETRA TECHNOLOGIES INC, a leading provider of completion fluids and water management solutions for the oil and gas industry, has released its Form 10-Q report for the third quarter. The report highlights significant financial growth and operational achievements, underscoring the company's robust performance and strategic initiatives in key business segments.

Financial Highlights

Total Revenues: $484.3 million, increased by 4.2% compared to the prior year due to strong results from the Completion Fluids & Products Division.

Gross Profit: $127.5 million, increased by 17.3% primarily due to strong margins from the Completion Fluids & Products Division.

Operating Income: $52.9 million, increased by 26.3% reflecting higher revenues and improved operating margins.

Net Income: $19.5 million, increased by 251.0% compared to the prior year, driven by higher operating income and lower interest expenses.

Net Income Attributable to TETRA Stockholders: $19.5 million, reflecting a significant improvement from the prior year.

Basic Net Income Per Common Share: $0.15, compared to $0.05 in the prior year, indicating improved profitability.

Diluted Net Income Per Common Share: $0.15, compared to $0.05 in the prior year, reflecting increased earnings per share.

Business Highlights

Revenue Segments: The Completion Fluids & Products Division saw a significant increase in revenues, driven by strong performance in deepwater Gulf of America projects and a robust industrial chemicals business in Northern Europe. The Water & Flowback Services Division experienced a decline in revenues due to reduced onshore activity in the United States and the sale of early production facilities in Latin America.

Geographical Performance: The Completion Fluids & Products Division benefited from deepwater projects in South America and a strong seasonal impact in Northern Europe. In contrast, the Water & Flowback Services Division faced challenges in the United States due to declining onshore activity.

Sales Units: The Completion Fluids & Products Division completed three CS Neptune wells in the Gulf of America, contributing to the division's strong performance. The division also reported increased sales of TETRA PureFlow ultra-pure zinc bromide electrolyte in North America.

New Production Launches: The company is advancing its bromine processing plant in Arkansas, with site preparation and installation of the bromine tower expected to be completed by the end of 2025. The facility is anticipated to be operational by the end of 2027, with first production in 2028.

Future Outlook: TETRA Technologies is prioritizing strategic initiatives that leverage its completion fluids and chemistry expertise, focusing on projects like TETRA CS Neptune fluids, TETRA PureFlow+ electrolyte, and the TETRA Oasis Total Desalination Solution. The company expects to see increased demand for its deepwater completion fluids and battery storage electrolyte, and is preparing for a significant increase in electrolyte volumes in early 2026.

SEC Filing: TETRA TECHNOLOGIES INC [ TTI ] - 10-Q - Oct. 28, 2025