Tetra Technologies targets revenue of $1.2B-$1.3B by 2030

TETRA Technologies (TTI) outlined a path towards reshaping the Company by capitalizing on several key emerging growth initiatives that are positioned to evolve the Company’s business profile and create long-term shareholder value. By 2030, TETRA is targeting Revenue to be between $1.2B and $1.3B, compared to $607M, representing a 15% compounded annual growth rate; Adjusted EBITDA in the $300M to $350M range, compared to $114M TTM Q2-2025 and adjusted EBITDA margins in the 25% to 28% range, compared to 18.9% TTM Q2-2025; EPS between $1.20-$1.30, and Annualized adjusted free cash flow above $100M from 2028 onwards. To achieve these targets TETRA is expecting that subject to attainment of certain milestones, in 2027 it will begin reporting three business segments to allow investors to better assess the performance of the current oil and gas services and products business and the two new growth initiatives. Specialty Chemicals & Minerals is targeting 2030 revenue between $430M and $460M with adjusted EBITDA margins in the 30% range as it is expected to leverage its strong calcium chloride market position in the United States and Europe, bring online in late 2027 its bromine processing facility to provide incremental bromine volumes at a lower cost than it is sourcing today, and ship electrolytes volumes of 8 Gwhs by 2030, or sooner, to keep up with battery storage requirements supporting AI data centers. Water Treatment & Desalination is targeting 2030 revenue between $340M and $360M with adjusted EBITDA margins also in the 30% range as TETRA capitalizes on its recently deployed TDS Oasis desalination technology. TETRA expects that by 2030 it will have built 10 water desalination plants processing over 500,000 barrels of produced water per day. The plants will be a combination of business models with a license model where operators or midstream companies fund the project, or TETRA funds the desalination equipment and technology with non-dilutive project level capital. At the Investor Day session Thursday morning, the Commissioner of the Texas Railroad Commission via video summarized the challenges the oil and gas industry is facing and encouraged the industry to embrace technology such as water treatment and desalination to address the challenge. Energy Services is targeting 2030 revenue between $440M and $460M with EBITDA margins in the mid 20% range as TETRA focuses on the offshore deepwater market capitalizing on lower tertiary activity that requires TETRA’s high-end completion fluids, which will also benefit from additional volumes at a lower cost from the bromine plant. As part of the Investor Day presentation, TETRA outlined several key milestones that it expects to achieve between now and 2027 that are expected to lead toward the 2030 targets. TETRA management further indicated that by 2028 upon completion of the bromine project it intends to shift capital allocation strategy from an investment to expand into the growth initiatives to returning capital to shareholders with debt reduction and dividends and/or share repurchases.