TETRA Technologies, Inc. (TTI) Earnings
TETRA Technologies, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $0.08. TTI has beaten EPS estimates in 3 of its last 11 reported quarters (average surprise -102.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.03 | $0.06 | +100.0% | $156M | +3.3% |
| Feb 26, 2026 | $0.03 | $-0.11 | -480.9% | $147M | +4.0% |
| Jul 29, 2025 | $0.09 | $0.09 | +0.0% | $174M | +0.8% |
| Jul 31, 2024 | $0.10 | $0.07 | -30.0% | $172M | -5.3% |
| Apr 30, 2024 | $0.03 | $0.05 | +62.3% | $151M | -1.7% |
| Feb 27, 2024 | $0.06 | $0.03 | -48.9% | $153M | +0.0% |
| May 1, 2023 | $0.05 | $0.03 | -34.4% | $146M | -12.8% |
| Feb 27, 2023 | $0.03 | $0.02 | -37.5% | $147M | +8.8% |
| Oct 31, 2022 | $0.04 | $0.02 | -53.5% | $135M | -0.1% |
| Aug 1, 2022 | $0.05 | $0.05 | +0.0% | $141M | +4.8% |
| May 2, 2022 | $0.01 | $0.06 | +1100.0% | $130M | +12.3% |
| Feb 28, 2022 | — | $-0.01 | — | $113M | +4.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Strong first quarter performance: Excluding Neptune project benefit, revenue $156 million and adjusted EBITDA $26 million were 10-year highs, with Brazil and Gulf of America first quarter results also 10-year highs. Industrial chemicals and production testing subsegments had 10-year high revenues. • Strategic progress: Progress towards One-Touch Tetra 2030 objectives, including bromine plant project in southwest Arkansas on track, electrolyte revenue growth in 2025, OASIS TDS and produced water desalination gaining momentum, joint venture for magnesium production, and evaluating options to accelerate lithium development. • Geopolitical impact: Middle East conflict not expected to have overall negative impact on financial results as core business regions' activity offsets Middle East reductions. Offshore projects could be pulled forward and unconventional activity in US may respond to current oil prices.
Guidance
• Maintaining prior 2026 guidance of single digit revenue growth over 2025 with completion fluid margins between 25 and 30% and water flow back in the mid teens. • Expecting to generate positive base business free cash flow in 2026 with cash reinvested in Arkansas bromine plant.
Segment performance
Completion fluids and products: Q1 revenue $92 million, adjusted EBITDA $26 million, increased 10% and 12% sequentially; year over year, revenue decreased 1% and adjusted EBITDA decreased 23%. Water and flow-back services: Revenue $65 million, increased 3% sequentially and 1% year-over-year; adjusted EBITDA $9 million, increased 20% sequentially and 9% from prior year. Production testing subsegment: Reached 10-year high in Q1 revenue, international production testing revenue over 50% of total PT subsegment revenue.
Risks & headwinds
• Geopolitical unrest in Europe and Middle East leading to rapid shifts in global market dynamics, such as offshore activity in Middle East slowing and logistics into region facing higher costs and shipping delays. • Uncertainty in oil and gas prices for the rest of 2026.
Analyst Q&A
Q: It seems like the OASIS commercial discussions are progressing well. Could you pull back the curtain a little bit more about what that looks like and add some comparison to what that looked like, say, at the start of the year or six months ago?
A: We are very encouraged with the ongoing dialogues. We had mentioned engaging in a 100,000 barrel per day plant and now have several parallel engineering studies going on for a smaller size plant as well as 100,000 barrel per day plant. Engineering studies take time and we're on progress, feeling we'll have what we need for commercial discussions by end of second quarter.
Q: On the deep water side and any indications on conversations with customers for deep water completion fluids and Neptune potential projects second half this year or next year?
A: We've felt good about deep water outlook. Recent events strengthened it. Seeing churn in projects, work outside Middle East offsetting potential loss from Middle East business. Pipeline of deep water and high pressure, high temperature completion opportunities continues to grow, probabilities for Neptune project next year increasing significantly.
Q: About evaluating options to accelerate lithium and magnesium development. Would that be in conjunction with accelerating the bromine project or separate?
A: Accelerating bromine project is priority, set to complete by end of 2027 and start in 2028. Benefits of upstream infrastructure for additional plants. Doing engineering studies for magnesium demonstration plant and lithium plant on same site, with synergies related to bromine project. Not ready to publish financial info yet.
Q: On battery energy storage and supply side. Do you get a rolling update on EOS supply manufacturing hiccups?
A: We're plugged into forecast to plan for bromine and electrolyte production. Have good visibility, secured additional third-party bromine supply, and will be in good position to supply EOS and deep water growth once our plant operates in 2028.
Q: On Arkansas bromine project, next construction milestones and CapEx?
A: Project on schedule, phase one completed. There will be more construction activity in 2027 and 2028. Funding from cash flow, with good options available if additional capital needed.
Q: On magnesium production opportunity, sense of demand and joint venture?
A: Ongoing discussions on joint venture, finalized joint venture. US doesn't produce magnesium, world dependent on China. Premature to say size of first commercial plant, having discussions, demonstration plant small scale to prove technology, no final determinations on commercial scale yet.
Q: On international production testing, where it's going and impact of recent events?
A: Seeing strong performance in Argentina business, expect to more than double revenue in 2026. Deploying technology and automation in other markets, pleased with geographical diversification. Increased spot sale inquiries for completion fluids due to Middle East bromine supply challenges.
Q: On domestic onshore completion fluids market, customers' back half of this year activity outlook?
A: Completion fluids largely offshore for us, but seeing trends in high pressure Western Haynesville, South Texas gas wells and West Texas work over activity requiring heavier brine fluids, with land applications starting to grow meaningfully.
Q: On Argentina, services provided and demand for early production facilities?
A: All of the above. Continued interest in early production facility projects, and deploying differentiated technology like Sandstorm automation into Argentina, seeing combination of early production facilities and technology deployment bringing value.