secwatch.observer — SEC 8-K summary
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Issuer:     TETRA TECHNOLOGIES INC (TTI)
CIK:        0000844965
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000844965-24-000051
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/844965/000084496524000051/0000844965-24-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/844965/000084496524000051/tti-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000844965-24-000051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer