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Tetra Technologies
(NYSE:TTI)
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Rating:59Neutral
Price Target:
$8.00
▼(-3.73% Downside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by mixed financial performance: improved balance-sheet strength and strong revenue momentum are offset by thin/volatile profitability and negative TTM free cash flow. Technicals are a notable drag with the stock trading below major moving averages and negative MACD. Earnings-call commentary and recent project/funding milestones are supportive, but valuation is pressured by a very high P/E and no dividend support.
Positive Factors
Stronger Balance Sheet
Material deleveraging and lower total debt have meaningfully strengthened the capital structure, reducing refinancing and liquidity risk. A below‑1.0 debt-to-equity ratio gives management durable financial flexibility to fund projects, absorb shocks, and pursue strategic investments over the medium term.
Negative Factors
Weak Free Cash Flow & Thin Net Margins
Despite solid operating cash inflows, negative TTM free cash flow and a very low net margin indicate weak cash conversion and limited surplus for discretionary investment. This constrains organic funding for growth, heightens sensitivity to capex timing, and limits resilience to cyclical revenue dips over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger Balance Sheet
Material deleveraging and lower total debt have meaningfully strengthened the capital structure, reducing refinancing and liquidity risk. A below‑1.0 debt-to-equity ratio gives management durable financial flexibility to fund projects, absorb shocks, and pursue strategic investments over the medium term.
Read all positive factors
Tetra Technologies (TTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.13B
Dividend YieldN/A
Average Volume (3M)1.63M
Price to Earnings (P/E)113.4
Beta (1Y)1.27
Revenue Growth4.09%
EPS Growth-93.54%
CountryUS
Employees1,400
SectorIndustrials
Sector Strength72
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.06
Shares Outstanding146,200,790
10 Day Avg. Volume1,340,132
30 Day Avg. Volume1,625,814
Financial Highlights & Ratios
PEG Ratio-4.26
Price to Book (P/B)4.40
Price to Sales (P/S)1.98
P/FCF Ratio63.88
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$13.50Price Target Upside62.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.27
Revenue Forecast (FY)$654.40M
Tetra Technologies Business Overview & Revenue Model
Company Description
TETRA Technologies, Inc. (TTI) is a diversified enterprise that delivers a range of services to the oil and gas industry. The company organizes its operations into two primary divisions: Completion Fluids & Products, and Water & Flowback Services....
How the Company Makes Money
TTI makes money by selling a mix of services and consumable products to upstream oil and gas operators and other energy-industry customers. A major revenue stream is its water management business, where it generates fees for managing produced wate...
Tetra Technologies Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call emphasized multiple tangible commercial and strategic achievements — strong sequential revenue and EBITDA improvement, record international/offshore results, product launches (Neptune Z‑Lite), FID and funding for an Arkansas bromine plant, progress on Oasis desalination and growing electrolyte demand — while also acknowledging headwinds: YoY EBITDA and margin comparisons affected by lumpy Neptune project timing, Middle East conflict delaying shipments, higher third‑party bromine costs and permitting risks for Oasis. On balance, the company reported solid operational execution, healthy cash generation, improved leverage and a clear path to long‑term growth, albeit with near‑term timing and geopolitical uncertainties.Positive Updates
Sequential and Year-over-Year Revenue Growth
Consolidated Q2 revenue of $185.7M, up 19% sequentially and up 7% year‑over‑year.
Negative Updates
Year‑over‑Year Margin and EBITDA Decline
Adjusted EBITDA of $31.9M was down from $36.2M in Q2 2025 (approximately a 12% YoY decline); consolidated adjusted EBITDA margin fell from 20.8% in Q2 2025 to 17.2% in Q2 2026, driven in part by absence of a large Neptune project that boosted prior‑year results.
Read all updates
Q2-2026 Updates
Positive
Negative
Sequential and Year-over-Year Revenue Growth
Consolidated Q2 revenue of $185.7M, up 19% sequentially and up 7% year‑over‑year.
Read all positive updates
Company Guidance
Management guided that the “base business” (completion fluids, Water & Flowback and electrolyte sales) is expected to perform in line with market expectations for the remainder of 2026, while timing of planned Neptune jobs could materially affect H2‑2026; they expect the first of three TETRA Neptune Z‑Lite wells to be executed in 2026, reiterated an ~8% CAGR Deepwater growth assumption from their Investor Day through 2030, and confirmed the Arkansas bromine FID (funded in part by ~ $108 million of net equity proceeds) with completion targeted Q4‑2027 and start‑up in early‑2028 to materially lower bromine cost and expand supply; Eos is on track for 4 GWh capacity by year‑end into 2027 (with a stated 8 GWh objective before 2030); segment margin guidance for Completion Fluids remains ~25–30%; and balance‑sheet/near‑term metrics supporting the plan include Q2 revenue $185.7M (+19% sequential, +7% YoY), adjusted EBITDA $31.9M (17.2% margin, +24% sequential), cash $154.6M, total debt $183.3M, net debt $28.7M and net leverage 0.4x, with management noting the Middle East conflict adds some market unpredictability.Tetra Technologies Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
51
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 641.83M | 630.93M | 599.11M | 626.26M | 553.21M | 388.27M |
| Gross Profit | 152.29M | 160.11M | 139.96M | 141.64M | 113.53M | 59.82M |
| EBITDA | 81.87M | 80.93M | 86.93M | 88.38M | 59.82M | 35.16M |
| Net Income | 6.21M | 3.00M | 108.28M | 25.78M | 7.84M | -16.80M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 785.19M | 718.58M | 499.52M | 457.59M | 398.27M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 44.99M | 37.21M | 52.48M | 13.59M | 31.55M |
| Total Debt | 48.65M | 263.12M | 221.39M | 196.80M | 194.15M | 191.47M |
| Total Liabilities | 226.31M | 502.70M | 465.28M | 352.19M | 351.19M | 299.70M |
| Stockholders Equity | 407.80M | 283.75M | 254.57M | 148.59M | 107.63M | 99.70M |
Cash Flow | ||||||
| Free Cash Flow | -15.09M | 19.54M | -24.16M | 32.05M | -21.10M | -15.88M |
| Operating Cash Flow | 70.62M | 100.36M | 36.52M | 70.21M | 18.96M | 4.66M |
| Investing Cash Flow | -85.27M | -61.37M | -59.06M | -27.03M | -36.50M | -5.17M |
| Financing Cash Flow | 100.96M | -5.37M | 8.87M | -4.66M | 40.00K | -50.05M |
Tetra Technologies Technical Analysis
Positive
8.31
Price Trends
9.58
Negative
9.33
Negative
9.29
Negative
Market Momentum
-0.53
Positive
48.78
Neutral
51.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTI, the sentiment is Positive. The current price of 8.31 is below the 20-day moving average (MA) of 8.62, below the 50-day MA of 9.58, and below the 200-day MA of 9.29, indicating a neutral trend. The MACD of -0.53 indicates Positive momentum. The RSI at 48.78 is Neutral, neither overbought nor oversold. The STOCH value of 51.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TTI.
Tetra Technologies Risk Analysis
Tetra Technologies disclosed 31 risk factors in its most recent earnings report. Tetra Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tetra Technologies Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $1.40B | 92.78 | 0.91% | ― | -2.91% | -82.51% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $488.21M | 19.00 | 8.98% | 0.34% | 0.35% | ― | |
59 Neutral | $1.13B | 113.40 | 2.51% | ― | 4.09% | -93.54% | |
56 Neutral | $1.36B | -98.23 | -1.49% | ― | -15.14% | 92.26% | |
55 Neutral | $1.24B | 56.38 | 1.91% | 2.93% | 25.36% | -59.73% | |
46 Neutral | $730.92M | -1.52 | -55.10% | ― | -18.94% | -69.29% |
* Industrials Sector Average
TTI
Tetra Technologies
8.67
4.67
116.75%
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ACDC
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Tetra Technologies Corporate Events
Business Operations and Strategy
TETRA Technologies Advances Evergreen Bromine Project Construction Agreement
Positive
Jun 15, 2026
On June 12, 2026, TETRA Bromine Project LLC entered into a Master Services Agreement with Diversified Construction Design to provide construction, commissioning, and related services for Phases 2 and 3 of the Evergreen bromine production project ...
Business Operations and StrategyPrivate Placements and Financing
TETRA Technologies Announces Public Equity Offering for Expansion
Positive
Jun 4, 2026
On June 2, 2026, TETRA Technologies, Inc. priced an underwritten public offering of 10,810,811 common shares at $9.25 per share, under an effective shelf registration with the U.S. SEC. The company and a syndicate led by J.P. Morgan Securities LLC...
Business Operations and StrategyPrivate Placements and Financing
TETRA Technologies Launches $100 Million Equity Offering
Neutral
Jun 2, 2026
On June 2, 2026, TETRA Technologies announced an underwritten public offering of $100 million in common stock, with an additional $15 million over-allotment option, to support general corporate purposes including its Arkansas bromine project. The ...
Executive/Board ChangesShareholder Meetings
Tetra Technologies Shareholders Back Board, Leadership and Governance
Positive
May 26, 2026
TETRA Technologies held its Annual Meeting on May 22, 2026, where shareholders elected eight directors to the board, including the reappointment of John F. Glick, and approved on an advisory basis the compensation of the company’s named exec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.