Loading...
•
Dec 31, 2025
TETRA Q4 2025 Earnings Report
TETRA Technologies, Inc. reported fourth quarter 2025 financial results, highlighting strong cash flow and record annual performance.
Key Takeaways
TETRA Technologies achieved its highest annual revenue and Adjusted EBITDA in 10 years. Despite a GAAP loss in Q4 due to unusual charges, the company generated significant operating cash flow of $31.7 million and maintained a strong balance sheet with a net leverage ratio of 1.1x.
Annual 2025 revenue of $631 million and Adjusted EBITDA of $114 million were the highest in a decade.
Completion Fluids & Products segment achieved record annual results and a 28.2% Adjusted EBITDA margin in Q4.
Generated $31.7 million in net cash from operating activities during the fourth quarter.
Phase 1 of the Arkansas bromine project was completed on time and under budget, with full operations targeted for late 2027.
Revenue by Segment
Forward Guidance
TETRA expects modest revenue growth in 2026 driven by electrolyte business and international contracts, while navigating a transition period for bromine supply costs.
Positive Outlook
- Expected doubling of revenue in Argentina for 2026 over 2025.
- Incremental revenue growth from the electrolyte business for BESS applications.
- Secured third-party bromine supply for 2026 and 2027 to meet growing demand.
- Water & Flowback margins expected to improve to mid-teens in 2026.
- On track for 2030 goals to double revenue and triple Adjusted EBITDA from 2025 levels.
Challenges Ahead
- Gulf of Mexico activity expected to cycle lower in 2026 compared to record 2025 levels.
- Higher costs for third-party bromine supply until the Arkansas plant is operational.
- Difficult U.S. onshore environment persists with lower frac activity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...