TETRA TECHNOLOGIES INC (TTI) FY2025 10-K Annual Report
TETRA TECHNOLOGIES INC (TTI) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
TETRA TECHNOLOGIES INC FY2025 10-K Analysis
Business Overview
- • Core business: Oil and natural gas sector services supporting exploration, development, and production activities worldwide
- • Emphasis this year: Heightened focus on regulatory, litigation, financial risks from climate change and ESG, with uncertain impacts on demand and operations
- • Strategic shift: Increased scrutiny on ESG disclosures and greenwashing risks with new SEC climate disclosure rule litigation and evolving anti-ESG political sentiment
- • Quantitative metric: Foreign operations expanded in Argentina, Brazil, Finland, Ghana, Norway, Saudi Arabia, Sweden, UK reflecting geopolitical and regulatory complexity
- • Noteworthy fact: SEC ended defense of 2024 climate risk disclosure rule; litigation paused awaiting SEC renewal, creating uncertainty around compliance and capital access
Management Discussion & Analysis
- • Revenue $631M, up 5.3% YoY, driven by Completion Fluids & Products segment increase of $65.2M, offset by Water & Flowback Services decline of $33.3M
- • Operating margin 8.8% (Operating income $55.4M on $631M revenue) vs 8.3% (Operating income $49.9M on $599M revenue)
- • Best performing segment: Completion Fluids & Products—revenues $376.5M (+20.9%), operating income $111.0M (+32.9%)
- • Worst performing segment: Water & Flowback Services—revenues $254.5M (-11.6%), operating income loss $0.03M vs income $11.9M prior year
- • Operating cash flow $100.4M (+$63.9M); Capex $80.8M; Financing uses $5.4M; Liquidity $220.8M ($72.6M cash, $148.2M credit availability)
- • 2026 outlook: Expect growth in base completion fluids and industrial chloride; ramp-up of TETRA PureFlow Plus battery electrolyte revenue; Argentina contract diversification to offset U.S. onshore slowdown
Risk Factors
- • Regulatory/legal risk: US economic sanctions due to Russia-Ukraine conflict disrupting elemental bromine supply from LANXESS impacting raw material costs
- • Geopolitical threat: Oil and natural gas prices volatility with WTI averaging $65.45 per barrel in 2025 directly affecting demand and capital spending
- • Supply chain vulnerability: Sole-source long-term supply agreement for elemental bromine with LANXESS critical for Completion Fluids & Products Segment operations
- • Market disruption risk: Competitors with newer, cost-effective equipment threatening market share during low oil and gas pricing periods
- • Financial risk: $7.2 million impairments recorded 2023-2025 on long-lived assets due to depressed commodity prices and economic environment changes
TETRA TECHNOLOGIES INC FY2025 Key Financial MetricsXBRL
Revenue
$631M
▲ +5.3% YoY
Net Income
$3M
▼ -97.2% YoY
Gross Margin
24.7%
▲ +137bp YoY
Operating Margin
8.8%
▲ +45bp YoY
Net Margin
0.5%
▼ -1760bp YoY
ROE
1.1%
▼ -4148bp YoY
Total Assets
$676M
▲ +11.7% YoY
EPS (Diluted)
$0.02
▼ -97.6% YoY
Operating Cash Flow
$100M
▲ +174.8% YoY
Source: XBRL data from TETRA TECHNOLOGIES INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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