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TETRA Technologies, Inc., together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products; and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa. This segment also markets liquid and dry calcium chloride products; and TETRA PureFlow ultra-pure zinc bromide to battery technology companies. Its Water & Flowback Services segment provides water management services for onshore oil and gas operators. This segment also offers frac flowback, early production facilities and services, production well testing, and other associated services in oil and gas producing regions in the United States, as well as in various basins in Latin America, Europe, and the Middle East. The company was incorporated in 1981 and is headquartered in Spring, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $631M | $81M | $3M | $20M | 1.1% | 5.3% | -97.2% |
| 2024 | $599M | $87M | $108M | $-24M | 42.7% | -4.3% | 320.0% |
| 2023 | $626M | $88M | $26M | $32M | 17.5% | 13.2% | 228.9% |
| 2022 | $553M | $60M | $8M | $-21M | 7.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 553.21 | 626.26 | 599.11 | 630.93 |
| Cost Of Revenue | 432.10 | 472.62 | 459.26 | 474.98 |
| Gross Profit | 121.11 | 153.65 | 139.85 | 155.95 |
| Operating Expense | 98.58 | 108.71 | 89.97 | 100.56 |
| Operating Income | 22.53 | 44.94 | 49.88 | 55.39 |
| EBITDA | 59.82 | 88.38 | 86.93 | 80.93 |
| EBIT | 27 | 54.05 | 51.21 | 43.83 |
| Pretax Income | 11.17 | 31.70 | 28.74 | 26.50 |
| Tax Provision | 3.56 | 6.22 | -84.88 | 22.30 |
| Net Income | 7.84 | 25.78 | 108.28 | 3 |
| Net Income Common Stockholders | 7.84 | 25.78 | 108.28 | 3 |
| Total Expenses | 530.68 | 581.33 | 549.23 | 575.54 |
| Interest Expense | 15.83 | 22.35 | 22.46 | 17.33 |
| Selling General And Administration | 91.94 | 96.59 | 89.97 | 100.56 |
| Normalized EBITDA | 59.82 | 88.38 | 92.46 | 80.93 |
| Normalized Income | 7.64 | 25.51 | 118 | 4.21 |
| Basic EPS | 0.06 | 0.20 | 0.83 | 0.02 |
| Diluted EPS | 0.06 | 0.20 | 0.83 | 0.02 |
| Tax Effect Of Unusual Items | 0 | 0 | -1.16 | 0 |
| Tax Rate For Calcs | 0.32 | 0.20 | 0.21 | 0.21 |
| Total Unusual Items | 0 | 0 | -5.54 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -5.54 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 7.64 | 25.51 | 113.62 | 4.21 |
| Reconciled Depreciation | 32.82 | 34.33 | 35.72 | 37.10 |
| Reconciled Cost Of Revenue | 432.10 | 472.62 | 459.26 | 474.98 |
| Net Interest Income | -15.83 | -22.35 | -22.46 | -17.33 |
| Net Income From Continuing And Discontinued Operation | 7.84 | 25.78 | 108.28 | 3 |
| Diluted Average Shares | 129.78 | 131.24 | 132.23 | 135.15 |
| Basic Average Shares | 128.08 | 129.57 | 131.28 | 133.20 |
| Diluted NI Availto Com Stockholders | 7.84 | 25.78 | 108.28 | 3 |
| Minority Interests | 0.04 | 0.03 | 0 | 0.01 |
| Net Income Including Noncontrolling Interests | 7.80 | 25.76 | 108.28 | 3 |
| Net Income Discontinuous Operations | 0.20 | 0.28 | -5.34 | -1.21 |
| Net Income Continuous Operations | 7.60 | 25.48 | 113.62 | 4.21 |
| Other Income Expense | 4.46 | 9.11 | 1.32 | -11.56 |
| Other Non Operating Income Expenses | 4.46 | 9.11 | 6.86 | -11.56 |
| Special Income Charges | 0 | 0 | -5.54 | 0 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0 |
| Other Special Charges | 0 | 0 | 5.54 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -15.83 | -22.35 | -22.46 | -17.33 |
| Interest Expense Non Operating | 15.83 | 22.35 | 22.46 | 17.33 |
| Other Operating Expenses | 6.63 | 12.12 | 0 | 0 |
| General And Administrative Expense | 91.94 | 96.59 | 89.97 | 100.56 |
| Other Gand A | 91.94 | 96.59 | 89.97 | 100.56 |
| Operating Revenue | 553.21 | 626.26 | 599.11 | 630.93 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| TETRA Technologies, Inc.this co. | TTI | $1.3B | 323.33↑ premium | 4.58 | 1.1% | 15.08 |
| Ryerson Holding Corporation | RYZ | $1.4B | - | 1.14 | -7.4% | 39.93 |
| T1 Energy Inc. | TE | $1.4B | - | 5.20 | -114.3% | -20.85 |
| Deluxe Corporation | DLX | $1.4B | 16.88 | 2.04 | 12.1% | 7.47 |
| PureCycle Technologies, Inc. | PCT | $1.3B |
| - |
| 29.14 |
| -397.9% |
| -14.03 |
| Eastman Kodak Company | KODK | $1.3B | - | 2.13 | -18.0% | 6.74 |
| Evolv Technologies Holdings, Inc. | EVLV | $1.3B | - | 10.32 | -27.7% | -140.63 |
| PROG Holdings, Inc. | PRG | $1.3B | 8.58 | 1.69 | 19.7% | 0.85 |
| Global Industrial Company | GIC | $1.2B | 17.62 | 3.97 | 23.0% | 12.16 |
| Peer Median | - | 16.88 | 3.05 | -12.7% | 3.79 | |