Major Estimate Revision • May 06
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from US$0.22 to US$0.265. Revenue forecast steady at US$655.4m. Net income forecast to grow 382% next year vs 28% growth forecast for Energy Services industry in the US. Consensus price target of US$12.50 unchanged from last update. Share price was steady at US$9.72 over the past week. 공시 • May 02
TETRA Technologies, Inc. Maintains Earnings Guidance for 2026 TETRA Technologies, Inc. maintained earnings guidance for 2026. For 2026, revenue outlook remains unchanged with potential for upside if deepwater projects get accelerated or elevated oil and gas prices drive activity increases in the U.S. The company expects to have a better view of the full year as The company go through the second quarter. Total company revenue is expected to increase modestly driven by higher electrolyte sales and the execution of long-term contracts for early production facilities ("EPFs") in Argentina. New Risk • Apr 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 51% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (51% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Reported Earnings • Apr 30
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$0.062 (up from US$0.031 in 1Q 2025). Revenue: US$156.3m (flat on 1Q 2025). Net income: US$8.32m (up 106% from 1Q 2025). Profit margin: 5.3% (up from 2.6% in 1Q 2025). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). 공시 • Apr 10
TETRA Technologies, Inc., Annual General Meeting, May 22, 2026 TETRA Technologies, Inc., Annual General Meeting, May 22, 2026. Location: corporate headquarters, 10000 energy drive, texas 77389, spring United States 공시 • Apr 08
TETRA Technologies, Inc. to Report Q1, 2026 Results on Apr 29, 2026 TETRA Technologies, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 29, 2026 Recent Insider Transactions Derivative • Mar 19
President exercised options and sold US$1.3m worth of stock On the 14th of March, Brady Murphy exercised options to acquire 157k shares at no cost and sold these for an average price of US$8.22 per share. This trade did not impact their existing holding. For the year to December 2019, Brady's total compensation was 15% salary and 85% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2025, Brady's direct individual holding has increased from 2.60m shares to 3.02m. Company insiders have collectively sold US$4.5m more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Mar 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to US$7.68. The fair value is estimated to be US$9.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 65%. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings are also forecast to grow by 60% per annum over the same time period. Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$0.263 to US$0.22 per share. Revenue forecast steady at US$648.4m. Net income forecast to grow 587% next year vs 23% growth forecast for Energy Services industry in the US. Consensus price target of US$12.75 unchanged from last update. Share price fell 23% to US$8.60 over the past week. Recent Insider Transactions Derivative • Mar 01
President exercised options and sold US$560k worth of stock On the 25th of February, Brady Murphy exercised options to acquire 50k shares at no cost and sold these for an average price of US$11.14 per share. This trade did not impact their existing holding. For the year to December 2019, Brady's total compensation was 15% salary and 85% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Brady's direct individual holding has increased from 2.60m shares to 2.73m. Company insiders have collectively sold US$1.9m more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Feb 26
Now 32% undervalued Over the last 90 days, the stock has risen 17% to US$9.06. The fair value is estimated to be US$13.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 65%. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings are also forecast to grow by 59% per annum over the same time period. 공시 • Feb 02
TETRA Technologies, Inc. to Report Q4, 2025 Results on Feb 25, 2026 TETRA Technologies, Inc. announced that they will report Q4, 2025 results After-Market on Feb 25, 2026 Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$11.19, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 15x in the Energy Services industry in the US. Total returns to shareholders of 205% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$4.86 per share. Price Target Changed • Dec 03
Price target increased by 15% to US$9.17 Up from US$8.00, the current price target is an average from 3 analysts. New target price is 17% above last closing price of US$7.83. Stock is up 101% over the past year. The company is forecast to post earnings per share of US$0.18 for next year compared to US$0.87 last year. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$8.21, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 14x in the Energy Services industry in the US. Total returns to shareholders of 111% over the past three years. Reported Earnings • Oct 29
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: US$0.031 (up from US$0.022 in 3Q 2024). Revenue: US$153.2m (up 8.1% from 3Q 2024). Net income: US$4.15m (up 47% from 3Q 2024). Profit margin: 2.7% (up from 2.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$7.04, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 14x in the Energy Services industry in the US. Total returns to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$12.07 per share. 공시 • Oct 14
TETRA Technologies, Inc. to Report Q3, 2025 Results on Oct 28, 2025 TETRA Technologies, Inc. announced that they will report Q3, 2025 results After-Market on Oct 28, 2025 공시 • Sep 23
TETRA Technologies, Inc. Announces Resource Upgraded for Arkansas Brine Project and Additional Critical Minerals TETRA Technologies, Inc. announced an updated resources report prepared in accordance with Regulation S-K 1300: Definitive Feasibility Study ("DFS"). RESPEC loop Company, LLC ("RESPEC") prepared the Technical Report Summary dated September 22, 2025 (the " Resource Report") as an update to its August 2024 resources and reserves report and incorporates the results of the DFS, including bromine reserve determinations, as of August 1, 2025. Highlights from the updated Resource Report include: TETRA's expanded Evergreen Unit Bromine Resources (Measured and Indicated) increased by 173% and total 431 k tons from the previously reported 158 k tons. Proven and probable bromine reserves remain consistent with the prior report of 744 k tons. See cautionary note concerning estimates of Mineral Resources and Reserves. The upgraded lithium resources in Evergreen Unit, as well as the positive announcement from Smackover Lithium (discussed below), are also very encouraging. TETRA currently owns mineral rights to approximately 40,000 acres of brine leases in Southwest Arkansas, which contain bromine, lithium, magnesium, manganese, and other key minerals. Although bromine is the initial target for TETRA's commercial project as outlined in the DFS report, lithium, magnesium, and manganese have been designated as critical minerals by the U.S. government and will be present in TETRA's future brine production along with the bromine. The various acres and units where TETRA holds brine interests and mineral rights are summarized below. Please visit the Investors section at view it. Company Overview: TETRA Technologies, Inc. is an energy services and solutions company focused on developing environmentally conscious services and solutions that help make people's lives better. With operations on six continents, the Company's portfolio consists of Energy Services, Industrial Chemicals, and Critical Minerals. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources, and therefore it cannot be assumed that all or any part of inferred resources will ever be upgraded to a higher category. Further, it is uncertain if all such measured, indicated and inferred mineral resources will ever be economically developed. Investors are cautioned that mineral resources do not have demonstrated economic value and further exploration may not result in the estimation of a mineral reserve. In addition, resource and reserve estimation is a process of estimating underground accumulations of minerals that cannot be measured in an exact way. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes in general economic conditions; opportunity risks, such as mineral extraction, demand therefor, or realizing industrial and other benefits expected from bromine processing; ability to develop a bromine processing facility and risks inherent in the construction such facility; the accuracy of resources report, feasibility study and economic assessment regarding lithium and bromine acreage; equipment supply, equipment defects and/or ability to timely obtain equipment components; competition from existing or new competitors; risks associated with the potential of bromine and lithium resources are associated with the bromine reserves and reserves. Recent Insider Transactions Derivative • Aug 28
President exercised options and sold US$224k worth of stock On the 25th of August, Brady Murphy exercised options to acquire 50k shares at no cost and sold these for an average price of US$4.49 per share. This trade did not impact their existing holding. For the year to December 2018, Brady's total compensation was 15% salary and 85% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Brady has owned 2.60m shares directly. Company insiders have collectively sold US$1.7m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Aug 01
Price target increased by 9.1% to US$6.00 Up from US$5.50, the current price target is an average from 4 analysts. New target price is 55% above last closing price of US$3.86. Stock is up 16% over the past year. The company is forecast to post earnings per share of US$0.15 for next year compared to US$0.87 last year. Reported Earnings • Jul 30
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: US$0.085 (up from US$0.058 in 2Q 2024). Revenue: US$173.9m (up 1.1% from 2Q 2024). Net income: US$11.3m (up 48% from 2Q 2024). Profit margin: 6.5% (up from 4.4% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.0%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. 공시 • Jul 30
TETRA Technologies, Inc. Provides Earnings Guidance for the Full Year 2025 TETRA Technologies, Inc. provided earnings guidance for the full year 2025. For the full year 2025, TETRA expects GAAP net income before taxes to be between $21 million and $34 million, and revenue to be between $610 million and $630 million. These guidance ranges are subject to risks associated with schedule delays for completion fluid projects, hurricane disruptions in the Gulf of America, changes to oil and gas company spending plans, lower than expected U.S. land-based drilling and frac activity levels, and macro impacts from U.S. tariffs. Major Estimate Revision • Jul 16
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$609.0m to US$602.7m. EPS estimate also fell from US$0.217 per share to US$0.167 per share. Net income forecast to shrink 77% next year vs 0.2% growth forecast for Energy Services industry in the US . Consensus price target down from US$5.63 to US$5.50. Share price fell 8.8% to US$3.23 over the past week. New Risk • Jul 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 59% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings are forecast to decline by an average of 59% per year for the foreseeable future. High level of non-cash earnings (36% accrual ratio). 공시 • Jul 08
TETRA Technologies, Inc. to Report Q2, 2025 Results on Jul 29, 2025 TETRA Technologies, Inc. announced that they will report Q2, 2025 results After-Market on Jul 29, 2025 New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (36% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Recent Insider Transactions • Jun 15
Treasurer & VP of Investor Relations recently bought US$246k worth of stock On the 11th of June, Kurt Hallead bought around 73k shares on-market at roughly US$3.39 per share. This transaction amounted to 95% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$504k more in shares than they have sold in the last 12 months. 공시 • Jun 13
Tetra Technologies, Inc. Announces the Appointment of Julia A Sloat as Director and Reconstitution of Committees Tetra Technologies, Inc. at its AGM held on June 12, 2025, approved the appointment of Julia A Sloat as director and Mark E. Baldwin’s service as a director concluded upon the expiration of his term at the Annual Meeting. The constitution of Audit Committee: Christian A. Garcia as Chair, Angela D. John, Julia A. Sloat, Shawn D. Williams. Human Capital Management and Compensation Committee: Thomas R. Bates, Jr.as Chair,Sharon B. McGee,Shawn D. Williams, Nominating, Governance and Sustainability Committee: Sharon B. McGee, Chair, Angela D. John, Julia A. Sloat. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to US$3.77, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Energy Services industry in the US. Total loss to shareholders of 18% over the past three years. Recent Insider Transactions • May 09
Treasurer & VP of Investor Relations recently bought US$209k worth of stock On the 5th of May, Kurt Hallead bought around 76k shares on-market at roughly US$2.74 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$258k more in shares than they have sold in the last 12 months. Major Estimate Revision • May 06
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$631.9m to US$609.0m. EPS estimate also fell from US$0.313 per share to US$0.217 per share. Net income forecast to shrink 71% next year vs 2.1% decline forecast for Energy Services industry in the US. Consensus price target down from US$6.13 to US$5.63. Share price was steady at US$2.72 over the past week. Price Target Changed • May 01
Price target decreased by 8.0% to US$5.75 Down from US$6.25, the current price target is an average from 4 analysts. New target price is 117% above last closing price of US$2.65. Stock is down 30% over the past year. The company is forecast to post earnings per share of US$0.26 for next year compared to US$0.87 last year. Reported Earnings • Apr 30
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.031 (up from US$0.007 in 1Q 2024). Revenue: US$157.1m (up 4.1% from 1Q 2024). Net income: US$4.05m (up 343% from 1Q 2024). Profit margin: 2.6% (up from 0.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 57%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. 공시 • Apr 30
TETRA Technologies, Inc. Revises Earnings Guidance for the First Half Ending June 30, 2025 TETRA Technologies, Inc. revised earnings guidance for the first half ending June 30, 2025. For the period, the company revised revenue guidance to be between $315 million and $345 million (previously $325 million to $355 million). Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$2.71, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Energy Services industry in the US. Total loss to shareholders of 27% over the past three years. 공시 • Apr 28
TETRA Technologies, Inc., Annual General Meeting, Jun 12, 2025 TETRA Technologies, Inc., Annual General Meeting, Jun 12, 2025. Location: 24955 interstate 45 north, the woodlands, texas, United States 공시 • Apr 24
TETRA Technologies, Inc. Completes the Drilling and Sampling Operations of an Additional Test Well in the Evergreen Unit TETRA Technologies, Inc. recently completed the drilling and sampling operations of an additional test well in the Evergreen Unit with very encouraging results. With the Evergreen Unit expansion approved and the additional test well results, the reservoir engineering model will be updated to reflect new resource volumes for bromine and lithium in the coming weeks. In addition to the rich volumes of bromine and lithium in The expanded Evergreen Unit, recent test well results have shown encouraging levels of magnesium and manganese, which are on the U.S. list of critical minerals and which are largely supplied from countries outside the U.S. Given TETRA's progress with mineral extraction from produced water, the Company is evaluating extraction technologies and development of these additional minerals, including engineering studies. It is encouraging that all these minerals, three of which are on the U. S. critical minerals list, may be produced from the same brine that will be developed first for TETRA's bromine project requirements. TETRA is expected to publish an updated resource study prepared by the Company's qualified person identifying the incremental volumes of bromine and Lithium in the expanded Evergreen Unit. Standard Lithium recently announced a joint venture agreement with Equinor to develop the TETRA option acreage to produce brine for lithium extraction. Major Estimate Revision • Apr 16
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$644.1m to US$631.9m. EPS estimate also fell from US$0.35 per share to US$0.313 per share. Net income forecast to shrink 63% next year vs 1.4% growth forecast for Energy Services industry in the US . Consensus price target down from US$6.25 to US$6.13. Share price rose 2.6% to US$2.40 over the past week. 공시 • Apr 11
TETRA Technologies, Inc. to Report Q1, 2025 Results on Apr 29, 2025 TETRA Technologies, Inc. announced that they will report Q1, 2025 results After-Market on Apr 29, 2025 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$3.02, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Energy Services industry in the US. Total loss to shareholders of 22% over the past three years. 공시 • Mar 25
TETRA Technologies, Inc. Announces Not Stand for Re-Election of Mark E. Baldwin as Independent Director TETRA Technologies, Inc. is disclosing that independent director Mark E. Baldwin has decided to not stand for re-election and retire at the Annual Meeting. Mr. Baldwin has served as an independent director and Chair of the Audit Committee since 2014, during which time he has brought valuable experience in areas such as finance, operations and transactions. 공시 • Mar 24
Bradley L. Radoff Issues an Open Letter to TETRA Technologies Board On March 24, 2025, Bradley L. Radoff and Michael Torok announced that they have issued an open letter to TETRA Technologies, Inc board, announced that they have nominated 4 director candidates Simon Bates, Evan Behrens, Bradley L. Radoff and Andrew K. Ruben for election to the Company's Board of Directors in in connection with the 2025 Annual Meeting of Stockholders. Bradley L. Radoff and Michael Torok criticized the current board for underperformance, lack of strategy, poor governance, and failed succession planning, believe the board is more focused on preserving the seats of certain directors rather than addressing the company's strategic and governance issues. In addition, Bradley L. Radoff and Michael Torok suggested forming a Strategy Committee, divesting underperforming parts of the business, and addressing capital allocation and succession planning to unlock value for stockholders. Recent Insider Transactions Derivative • Mar 19
President exercised options and sold US$316k worth of stock On the 15th of March, Brady Murphy exercised options to acquire 94k shares at no cost and sold these for an average price of US$3.35 per share. This trade did not impact their existing holding. For the year to December 2018, Brady's total compensation was 13% salary and 87% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Brady's direct individual holding has increased from 2.19m shares to 2.47m. Company insiders have collectively sold US$2.1m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 12
President exercised options and sold US$154k worth of stock On the 8th of March, Brady Murphy exercised options to acquire 46k shares at no cost and sold these for an average price of US$3.32 per share. This trade did not impact their existing holding. For the year to December 2018, Brady's total compensation was 13% salary and 87% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Brady's direct individual holding has increased from 2.19m shares to 2.41m. Company insiders have collectively sold US$1.6m more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$3.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Energy Services industry in the US. Total loss to shareholders of 10% over the past three years. Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$675.4m to US$644.1m. EPS estimate also fell from US$0.413 per share to US$0.35 per share. Net income forecast to shrink 59% next year vs 20% growth forecast for Energy Services industry in the US . Consensus price target broadly unchanged at US$6.40. Share price fell 12% to US$3.63 over the past week. 공시 • Feb 26
TETRA Technologies, Inc. Provides Earnings Guidance for the First Half Ending June 30, 2025 TETRA Technologies, Inc. provided earnings guidance for the first half ending June 30, 2025. For the period, the company expects Revenue of $325,000,000 - $355,000,000. New Risk • Feb 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 43% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). High level of non-cash earnings (43% accrual ratio). Reported Earnings • Feb 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.87 (up from US$0.20 in FY 2023). Revenue: US$599.1m (down 4.3% from FY 2023). Net income: US$113.6m (up 346% from FY 2023). Profit margin: 19% (up from 4.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates significantly. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Feb 23
President exercised options and sold US$231k worth of stock On the 19th of February, Brady Murphy exercised options to acquire 52k shares at no cost and sold these for an average price of US$4.44 per share. This trade did not impact their existing holding. For the year to December 2018, Brady's total compensation was 13% salary and 87% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Brady's direct individual holding has increased from 2.19m shares to 2.26m. Company insiders have collectively sold US$2.4m more than they bought, via options and on-market transactions in the last 12 months. 공시 • Feb 01
TETRA Technologies, Inc. to Report Q4, 2024 Results on Feb 25, 2025 TETRA Technologies, Inc. announced that they will report Q4, 2024 results After-Market on Feb 25, 2025 공시 • Dec 17
TETRA Technologies, Inc. Introduces TETRA Oasis Total Designation Solution (Tetra Oasis TDS) and Results from Permi Basin Financial Re-Use Pilot TETRA Technologies, Inc. announced the commercial launch of TETRA Oasis TDS, an end-to-end water treatment and desalination technology for beneficial re-use and mineral extraction applications for oil and gas well produced water. TETRA also recently completed a commercial pilot project for the desalination of Delaware Basin produced water for a major North America oil and gas operator. The desalinated water was tested against published Texas Railroad Commission (‘TRRC’) standards for beneficial re-use water at both TETRA's laboratory and an independent third-party laboratory. Subsequently, the treated water was sent to a third party for Whole Effluent Toxicity (‘WET’) testing where it successfully passed all test parameters. WET testing is a method used to measure the combined toxic effects of all pollutants on aquatic organisms and involves exposing aquatic organisms to treated wastewater samples and observing how the organisms respond. The tests can be acute or chronic and measure different aspects of the organisms' health. WET testing is a vital component to implementing water quality standards under the National Pollutant Discharge Elimination System (‘NPDES’) permits program. TETRA Oasis TDS is a proprietary end-to-end offering that involves a variety of processing stages starting with operator's oil and gas well produced water as feed brine for a pre-treatment step. TETRA has developed extensive experience and expertise over the past six years in the treatment and recycling of produced water for frac re-use, as demonstrated by having treated in the fourth quarter, 2024 a record peak volume of over 800,000 bbl/day. This experience has advanced TETRA's chemistry know-how in addressing a wide variability of produced water constituents, including dealing with organic compounds that would otherwise be destructive to membranes used in other industries to desalinate water. The critical pre-treatment first step is followed by the desalination stage through two technologies licensed exclusively to TETRA for oil and gas produced water applications, KMX Technologies Inc., ("KMX") Vacuum Membrane Distillation ("VMD") or Hyrec Holdings Company W.L.L. ("Hyrec") Osmotically Assisted Reverse Osmosis ("OARO"), or a combination of both. The selection of which technology or combination thereof depends, in part, on the total dissolved solids of the feed water, the end use application, and optimizing both the capital and operating costs of the process. The final stage is a post-treatment process designed to meet customer water specifications and may involve extraction of minerals, which TETRA's chemical business has been doing for many years, and potentially significantly improving the economic benefits. TETRA Oasis TDS was successfully proven in the field to deliver a water quality that achieves or exceeds regulatory requirements in a cost-effective manner for multiple beneficial re-use applications, including potential surface irrigation and industrial uses. Major Estimate Revision • Nov 05
Consensus EPS estimates fall by 66% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$626.4m to US$613.2m. EPS estimate also fell from US$0.175 per share to US$0.06 per share. Net income forecast to grow 510% next year vs 26% growth forecast for Energy Services industry in the US. Consensus price target up from US$6.75 to US$7.08. Share price rose 19% to US$3.50 over the past week. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$3.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Energy Services industry in the US. Total loss to shareholders of 2.8% over the past three years. Reported Earnings • Oct 30
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$0.022 (down from US$0.042 in 3Q 2023). Revenue: US$141.7m (down 6.4% from 3Q 2023). Net income: US$2.83m (down 48% from 3Q 2023). Profit margin: 2.0% (down from 3.6% in 3Q 2023). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 153%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Major Estimate Revision • Oct 23
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$0.197 to US$0.175 per share. Revenue forecast steady at US$626.4m. Net income forecast to grow 292% next year vs 21% growth forecast for Energy Services industry in the US. Consensus price target down from US$7.42 to US$6.75. Share price fell 6.5% to US$3.02 over the past week. Price Target Changed • Oct 21
Price target decreased by 9.0% to US$6.75 Down from US$7.42, the current price target is an average from 6 analysts. New target price is 106% above last closing price of US$3.28. Stock is down 46% over the past year. The company is forecast to post earnings per share of US$0.17 for next year compared to US$0.20 last year. 공시 • Oct 10
TETRA Technologies, Inc. to Report Q3, 2024 Results on Oct 29, 2024 TETRA Technologies, Inc. announced that they will report Q3, 2024 results After-Market on Oct 29, 2024 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$3.31, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Energy Services industry in the US. Total returns to shareholders of 4.1% over the past three years. 
