TETRA Technologies Q1 revenue $151M (+3% YoY); adj EBITDA $22.8M (+11%); net income $0.9M; refinances term loan to 2030

TETRA TECHNOLOGIES INC

2024-Q1 EPS reported $0.01 revenue$150,972,000

Revenue $151M (+3% YoY); net income $915k ($0.01 EPS); adj EPS $0.05; adj EBITDA $22.8M (+11%).
Completion Fluids & Products rev $77M (+12% YoY), adj EBITDA margin 28.1%; Water & Flowback rev $74M (-4.5% YoY), margin 9.6%.
Refinanced term loan with delayed draw for bromine project, extended maturity to 2030.
Net cash used in ops $13.8M; adj free cash flow -$29.6M including $4M capex for bromine/lithium projects.
Expects Water & Flowback margins to rebound to mid-teens in Q2; strategic initiatives advancing (bromine DFS, Li JV with ExxonMobil, EOS electrolyte).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TETRA TECHNOLOGIES INC reported first quarter 2024 results: revenue $151 million, net income $915,000.

Period: first quarter 2024
Revenue: $151 million
Net income: $915,000
Result: reported results

Exact text from the filing

ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS • First quarter revenue of $151 million increased 3% year-over-year. • First quarter net income was $915,000 and net income per share attributable to TETRA stockholders was $0.01.

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Source: SEC EDGAR

accession 0000844965-24-000051

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