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Tetra Technologies (TTI)
NYSE:TTI
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.04Last Year’s EPS
0.11Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive picture: multiple record performances (completion fluids, calcium chloride, West Memphis production), strong free cash flow ($83M base business FCF), improved balance sheet metrics (net debt down to $109M; net leverage 1.1x), strategic project milestones (bromine tower erected, patent on OASIS desalination) and clear growth catalysts (Argentina expansion, 75M lb bromine plant capacity, desalination for data centers). Near-term risks include higher short-term bromine costs due to third-party purchases, a shift toward drilling (less completions) in 2026 that may reduce segment pace vs. 2025, timing and scale execution risk for large desalination projects, and some partner execution delays (e.g., Eos). Overall, the strengths and validated strategic progress materially outweigh the near-term operational and timing headwinds.Company Guidance
Record Completion Fluids Performance & Market Recognition
Gulf of America Completion Fluids team ranked #1 supplier for product quality and overall performance for the 5th consecutive year (Kimberlite). Gulf of America revenue rose well over 50% in 2025 vs. 2024, driven by deepwater participation (including three CS Neptune wells). Completion fluids & products adjusted EBITDA margin improved 420 basis points from 28.9% (2024) to 33.0% (2025).
West Memphis Production Expansion
West Memphis had a record production year, producing 40% more bromine end products than covered by the long-term bromine supply agreement, and expanded distribution capacity (shipping PureFlow electrolyte in tanker trucks rather than totes). Phase 1 of Evergreen bromine plant completed on time and materially below budget, including erection of a 120-foot titanium bromine tower.
Calcium Chloride Business Records & Tech-Grade Growth
Global calcium chloride business set revenue and adjusted EBITDA records in 2025 and outperformed GDP. Tech-grade calcium chloride for chip manufacturing grew 144% in 2025 vs. 2024 (though it remains a small percentage of U.S. calcium chloride revenue), supporting domestic chip manufacturing re-shoring demand.
Completion Fluids Segment Record Results
Combination of Gulf of America, West Memphis production, and calcium chloride produced record-level revenue and adjusted EBITDA for the completion fluids segment in 2025 despite overall deepwater rig counts being ~55% below the 2014 peak.
Strategic Project Upsize: 75M lb Bromine Plant Capacity
Detailed engineering advanced and long-lead orders placed for Evergreen plant phases 2 and 3. Plant designed around a 75 million pound annual bromine tower capacity — 56% higher than the previously published 48 million pound estimate — and company expects total bromine demand to reach that capacity by 2029, improving project economics from prior feasibility study.
Desalination Technology & Market Opportunity
TETRA issued a patent for TETRA OASIS TDS end-to-end desalination solution. EOG commercial plant grassland study ran >95% uptime for four months. Customer demand shifted from planned 25,000 bpd plants to >100,000 bpd designs (one data center may require up to ~200,000 bpd), representing meaningful addressable market expansion.
Argentina Growth and Contracts
Secured major contract awards in Argentina, expanding production testing (SandStorm technology) and three early production facility contracts. Management expects Argentina to double revenue in 2026 vs. 2025, with Argentina being cash self-sufficient and margins accretive to the water management and flowback segment.
Strong Cash Flow & Improved Leverage
Base business free cash flow was $83.0 million for 2025 (exceeded objective of >$50 million). Q4 base business cash flow was $21.8 million. Consolidated free cash flow including Arkansas investments was $33.0 million. Cash on hand ended 2025 at $73.0 million (about 2x start of year). Net debt reduced to $109.0 million from $143.0 million; net leverage improved from 1.8x to 1.1x.
Working Capital and Collections Improvement
Working capital reduced ~20% (down $21 million) to $88 million at year-end 2025. Days sales outstanding improved 13%, from 71 to 62 days, demonstrating improved collections and customer quality.
Operational & Corporate Efficiency Actions
Corporate office relocation expected to reduce corporate G&A by approximately $2.0 million per year. Base business capital expenditures were $30.5 million and Arkansas investments were $45.0 million, with $4.5 million of interest capitalized — demonstrating disciplined investment alongside free cash flow generation.
Margin Guidance Backed by Technology and Vertical Integration
Management expects completion fluids & products adjusted EBITDA margins in 2026 of 25%–30% (consistent with a seven-year average) and significant EBITDA upside beginning in 2028 when the bromine plant is operational. Water & flowback services margins expected to improve from 12% in 2025 to mid-teens in 2026 due to technology (SandStorm) adoption and profitable international growth.
TTI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TTI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $11.14 | $9.06 | -18.67% |
Oct 28, 2025 | $7.78 | $7.21 | -7.33% |
Jul 29, 2025 | $3.82 | $3.91 | +2.36% |
Apr 29, 2025 | $2.76 | $2.85 | +3.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Tetra Technologies (TTI) report earnings?
Tetra Technologies (TTI) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is Tetra Technologies (TTI) earnings time?
Tetra Technologies (TTI) earnings time is at May 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TTI EPS forecast?
TTI EPS forecast for the fiscal quarter 2026 (Q1) is 0.04.