Tetra Technologies reports Q4 adjusted EPS 3c, consensus 3c

Reports Q4 revenue $134.5M, consensus $138.96M. Brady Murphy, TETRA’s President and Chief Executive Officer, stated, “Our fourth quarter results were in-line with our expectations as strong offshore activity led by deepwater Gulf of America as well as continued strength in our industrial chemicals business did not quite offset weaker than normal year-end U.S. onshore activity. Adjusted EBITDA margins of 17.0% improved from 16.6% in the third quarter and from 15.8% in the fourth quarter of 2023 despite lower revenue quarter over quarter and year over year. Our strategic focus on produced water has resulted in record high treatment and recycling volumes in the fourth quarter and the commercial announcement of TETRA Oasis Total Desalination Solution (TDS), an end-to-end desalination for beneficial re-use solution has been very well received. In early January we monetized our entire equity investment in Kodiak Gas Services Inc., generating approximately $19 million in cash proceeds. We enter 2025 with a strong and growing base business, a robust backlog of deep-water projects, momentum with our produced water desalination solution, stronger demand for our TETRA PureFlow battery electrolyte, a solid balance sheet and the necessary liquidity to continue to fund our growth initiatives.”