TETRA Technologies, Inc. (NYSE: TTI) Reports Fourth Quarter and Full Year 2025 Financial Results

Key Highlights from the Report

• Q4 2025 Revenue: \$146.7 million, a 9% increase from Q4 2024
• Full Year 2025 Revenue: \$599.1 million
• Q4 2025 Loss from Continuing Operations: \$15.3 million, including \$18.7 million of unusual charges
• Q4 2025 Adjusted EBITDA: \$20.4 million
• Q4 2025 Net Cash Provided by Operating Activities: \$31.7 million
• Q4 2025 Loss Per Share from Continuing Operations: \$(0.11)
• Q4 2025 Adjusted Net Income Per Share: \$0.02 (excluding unusual charges)
• Full Year 2025 Net Income Attributable to TETRA Stockholders: \$108.3 million
• Full Year 2025 Adjusted EBITDA: \$99.4 million
• Unusual Charges for 2025: \$31.6 million, including major legal expenses, foreign exchange losses, and restructuring costs

Detailed Financial and Operational Review

Fourth-Quarter 2025 Performance

TETRA Technologies delivered a robust performance in the fourth quarter of 2025, posting revenues of \$146.7 million, representing a 9% increase over the prior year’s fourth quarter.
However, the company reported a loss from continuing operations of \$15.3 million. This loss included \$18.7 million in unusual charges, which significantly impacted the bottom line.

On an adjusted basis, net income per share was \$0.02, while the reported loss per share from continuing operations stood at \$(0.11). Adjusted EBITDA for the quarter was \$20.4 million.
Cash generation remained strong, with net cash provided by operating activities totaling \$31.7 million, materially above the quarterly net income as a result of effective working capital management.

Full Year 2025 Performance

For the full year 2025, TETRA Technologies reported total revenues of \$599.1 million. Net income attributable to TETRA stockholders was \$108.3 million, a substantial improvement over prior years.
Full-year Adjusted EBITDA was \$99.4 million.

The company also reported EPS from continuing operations of \$0.03 and Adjusted net income per share of \$0.26 (up from \$0.19 in 2024), demonstrating underlying earnings power when excluding non-recurring items.

Unusual Charges and Potential Price-Sensitive Items

• Total Unusual Charges for 2025: The company booked \$31.6 million in unusual charges for the year. These included:
  • \$5.5 million in legal fees related to a former subsidiary, as well as restructuring and severance linked to the downsizing of Water & Flowback Services operations.
  • \$9.5 million non-cash cumulative foreign exchange losses associated with the previous closure of the Canadian subsidiary.
  • \$0.4 million in non-cash stock appreciation right expense related to the former CEO.
  • \$6.0 million non-cash unusual tax expense, including a \$7.2 million tax hit from the reclassification of the Brazilian subsidiary for U.S. tax purposes, partially offset by a \$1.2 million correction to the 2024 tax provision.
• Cash Flow: The company’s ability to generate \$31.7 million in net cash from operating activities in Q4 and \$36.5 million for the year demonstrates a strong cash position, especially when compared to net income.
• Balance Sheet Health: As of December 31, 2025, TETRA Technologies had total assets of \$715.7 million and stockholders’ equity of \$283.8 million, indicating a solid capital foundation.
• Potential Impact on Share Price: The significant improvement in adjusted earnings and cash flow, combined with the transparency around one-time charges, could be viewed positively by investors. However, the magnitude of unusual charges and net loss from continuing operations in Q4 may raise concerns regarding operational challenges, ongoing restructuring, or legal exposures.

Other Noteworthy Items

• Non-GAAP Financial Measures: The company continues to emphasize non-GAAP metrics such as Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow, with detailed reconciliations provided. Investors are advised to scrutinize these adjustments and compare them to GAAP results for a complete picture.
• Stock Information: TETRA’s common stock trades on the New York Stock Exchange under the ticker symbol TTI.
• Emerging Growth Company Status: TETRA is not classified as an emerging growth company under SEC rules.

Conclusion and Shareholder Takeaways

TETRA Technologies delivered a year of revenue growth and strong operating cash flow, despite notable one-off charges that affected reported net income. The company’s ability to generate significant adjusted profits and cash flows, as well as its efforts to address legacy legal and restructuring matters, are important for shareholders to note.

The balance between improving operational results and the impact of substantial non-recurring charges will be a key factor for investors assessing the company’s future value. The market’s reaction may depend on management’s ability to control such one-time costs going forward and sustain underlying earnings improvements.

Disclaimer: This article is based on information extracted from TETRA Technologies, Inc.’s official SEC filings and press releases. It is intended for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence and consult with financial advisors before making investment decisions.

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