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Tetra Technologies reports higher Q2 revenue and EBITDA
The company said international and offshore strength offset delayed Middle East fluid shipments, while adjusted EBITDA margin rose to 17.2%.
Tetra Technologies, Inc. reported second-quarter revenue of $185.7 million, up 19% sequentially and 7% year over year, with management attributing the gain to strength in international and offshore operations that offset delayed Middle East fluid shipments tied to regional conflict, according to Yahoo Finance.
Adjusted EBITDA increased 24% sequentially to $31.9 million, and adjusted EBITDA margin improved to 17.2% from 16.4% in the prior quarter. Income from continuing operations was $10.2 million, compared with $8.3 million in the first quarter and $11.3 million a year earlier.
The company noted that the year-over-year decline in adjusted EBITDA was due to a three-well TETRA Neptune project completed in the second quarter of 2025 that was not expected to recur in 2026. President and CEO Brady Murphy said the quarter was among the strongest second quarters the company has delivered in the past decade, citing deepwater market share and expanding international operations.
Tetra also highlighted several growth developments, including board authorization of final investment in an Arkansas bromine project supported partly by about $108 million from a recent equity offering, with completion targeted for late 2027 and startup expected in early 2028. In addition, the company secured a three-well, 20,000-psi Gulf of America contract for its TETRA Neptune Z-Lite and advanced its Oasis TDS produced-water desalination technology, with management expecting deepwater completions and related demand to strengthen into 2027.