TETRA Technologies(TTI)
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TETRA Technologies(TTI) - 2024 Q4 - Annual Results
2025-02-25 22:03
Exhibit 99.1 TETRA TECHNOLOGIES, INC. ANNOUNCES FOURTH QUARTER AND TOTAL YEAR 2024 RESULTS AND PROVIDES FIRST-HALF 2025 GUIDANCE Fourth Quarter Financial Highlights THE WOODLANDS, Texas, February 25, 2025 / PR Newswire / - TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:TTI) today announced fourth quarter and total year 2024 results. 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 ...
TETRA TECHNOLOGIES, INC. ANNOUNCES FOURTH QUARTER AND TOTAL YEAR 2024 RESULTS AND PROVIDES FIRST-HALF 2025 GUIDANCE
Prnewswire· 2025-02-25 22:00
Core Insights - TETRA Technologies, Inc. reported fourth quarter and total year 2024 results, highlighting a mixed performance with strong offshore activity but weaker U.S. onshore activity [1][2] - The company achieved an adjusted EBITDA margin of 17.0%, an improvement from previous quarters, despite a decrease in revenue [2][5] - TETRA's strategic focus on produced water led to record high treatment and recycling volumes, alongside the successful commercial launch of the TETRA Oasis Total Desalination Solution [2][8] Financial Performance - Fourth quarter 2024 revenue was $135 million, a decrease of 5% from the third quarter [5][16] - Net income from continuing operations was $102 million, significantly higher than $2.8 million in the previous quarter, largely due to non-recurring tax credits [5][10] - Adjusted EBITDA for the fourth quarter was $22.8 million, down 3% from the third quarter, with margins impacted by lower production volumes [6][9] Cash Flow and Investments - Cash flow from operating activities was $5.6 million, a decline from $19.9 million in the third quarter [7][10] - The company reported an adjusted free cash flow use of $9.3 million in the fourth quarter, compared to a positive $6.3 million in the third quarter [7][10] - TETRA monetized its equity investment in Kodiak Gas Services, generating approximately $19 million in cash proceeds [2][6] Strategic Initiatives - TETRA invested $22 million in strategic initiatives in Arkansas, focusing on engineering and reservoir studies for a bromine project [10][11] - The company anticipates a strong first half of 2025, with expected net income before taxes between $19 million and $34 million [3][12] - TETRA is prioritizing projects that can impact near-term results, including TETRA CS Neptune fluids and water desalination technologies [12][11] Tax and Deferred Assets - A favorable adjustment of $97.5 million to deferred tax assets was recognized, reflecting TETRA's profitable position and expectations of stronger future profits [4][15] - The company estimates that its U.S. federal tax loss carryforward can offset approximately $345 million of taxable pretax income in 2025 and beyond [4][15] Yearly Overview - Total year revenue for 2024 was $599 million, a decrease of $27 million from 2023, with international operations contributing to the decline [16][17] - Income from continuing operations improved to $113.6 million in 2024, compared to $25.5 million in 2023 [16][17] - Adjusted EBITDA for the full year was $99 million, down from $107 million in 2023, with margins decreasing slightly [16][17]
Thiogenesis Announces European Consulting and Investor Relations Agreement
Newsfile· 2025-02-20 14:00
Core Viewpoint - Thiogenesis Therapeutics, Corp. has entered into a consulting and investor relations agreement with Bull Markets Media GmbH to enhance its shareholder base and expand its network in Europe [1][2]. Group 1: Agreement Details - The consulting fee for the agreement is C$60,000, with 50% payable upon signing and the remainder due on June 1, 2025 [3]. - The agreement includes the grant of 100,000 stock options to the consultant, allowing the acquisition of shares at $0.64 each for a term of 3 years, with options vesting in tranches [3]. - The agreement has a duration of twelve months and can be renewed annually for up to two additional years [3]. Group 2: Company Overview - Thiogenesis Therapeutics is a clinical-stage biopharmaceutical company focused on developing sulfur-containing prodrugs aimed at treating serious pediatric diseases with unmet medical needs [5]. - The company utilizes a streamlined 505 (b)(2) regulatory pathway in the US and a hybrid system in Europe for regulatory submissions, which allows for the use of existing safety data [5]. - Initial target indications for the company's products include Mitochondrial Encephalopathy Lactic Acidosis and Stroke (MELAS), Leigh syndrome, Rett syndrome, and pediatric MASH [5]. Group 3: Regulatory and Compliance - The agreement with the consultant is subject to acceptance by the TSX Venture Exchange [4]. - The company has received final acceptance from the TSXV for its investor relations contract with Triomphe Holdings Ltd. [4].
Thiogenesis Announces Commencement of OTCQX Trading in the U.S.
Newsfile· 2025-02-12 14:00
Company Overview - Thiogenesis Therapeutics, Corp. is a clinical-stage biotechnology company focused on developing disulfides that enhance the production of intracellular antioxidants and therapeutic compounds [1][5] - The company operates through its wholly owned subsidiary based in San Diego, California, and is listed on both the TSX Venture Exchange under the symbol TTI and the OTCQX Best Market under the symbol TTIPF [1][5] Market Activity - Thiogenesis' common shares are now trading on the OTCQX Best Market, which is the highest-level market of OTC Markets, enhancing visibility and accessibility to U.S. investors [1] - The company has achieved Depository Trust Company (DTC) eligibility status, allowing for electronic settlement of its common shares, which facilitates trading for U.S. investors [2] Clinical Development - On January 27, 2025, Thiogenesis announced it received final regulatory clearance to initiate a Phase 2 clinical trial in Europe for the treatment of Mitochondrial Encephalomyopathy with Lactic Acidosis and Stroke-like episodes (MELAS) [3] - The company is targeting serious pediatric diseases with unmet medical needs, including MELAS, Leigh's syndrome, Rett syndrome, and pediatric MASH [5] Disease Background - MELAS is a rare inherited mitochondrial disorder often caused by a mutation in the MT-TL1 gene, with initial symptoms including seizures, vomiting, and muscle weakness [4] - The disease typically presents before the age of 20 and has no approved drugs, making it a viable target for Thiogenesis' therapeutic development [4]
TETRA TECHNOLOGIES, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2024 EARNINGS RELEASE CONFERENCE CALL AND WEBCAST
Prnewswire· 2025-02-01 00:30
Core Viewpoint - TETRA Technologies, Inc. will release its fourth quarter and full year 2024 results on February 25, 2025, followed by a conference call on February 26, 2025, to discuss these results [1] Company Overview - TETRA Technologies, Inc. is an energy services and solutions company focused on environmentally conscious services and solutions [3] - The company operates on six continents and has a portfolio that includes Energy Services, Industrial Chemicals, and Critical Minerals [3] - TETRA provides products and services to the oil and gas industry and calcium chloride for various applications, while also expanding into the low-carbon energy market [3] - The company aims to meet the demand for sustainable energy in the twenty-first century through its chemistry expertise, key mineral acreage, and global infrastructure [3]
TETRA TECHNOLOGIES, INC. TO PARTICIPATE IN THE 27TH ANNUAL NEEDHAM GROWTH CONFERENCE
Prnewswire· 2025-01-08 21:00
Company Overview - TETRA Technologies, Inc. is an energy services and solutions company focused on developing environmentally conscious services and solutions that enhance quality of life [3] - The company operates on six continents and has a portfolio that includes Energy Services, Industrial Chemicals, and Critical Minerals [3] - TETRA provides products and services to the oil and gas industry and calcium chloride for various applications, while also expanding into the low-carbon energy market [3] - The company leverages its chemistry expertise, key mineral acreage, and global infrastructure to meet the demand for sustainable energy in the 21st century [3] Upcoming Events - TETRA's senior management will participate in the 27th Annual Needham Growth Conference in New York on January 14th and 15th, 2025 [1] - CEO Brady Murphy and CFO Elijio Serrano will host one-on-one meetings and present on January 14 from 8:45 A.M. to 9:25 A.M. (ET) [2] - The presentation will be webcast, and interested parties can register for one-on-one meetings at the Lotte New York Palace Hotel [2]
Growth Trends in the Power Tools Industry, 2024-2029 - Stanley Black & Decker, Bosch Power Tools, and TTI Dominate the Competitive Landscape
GlobeNewswire News Room· 2024-12-19 09:53
Market Overview - The global power tools market is projected to grow at a CAGR of 6.36% from 2023 to 2029 [2] - The estimated market value in 2023 is $40 billion, with a forecasted value of $57.9 billion by 2029 [22] Regional Insights - APAC held the largest share of the global power tools market, accounting for over 36% in 2023 [16] - China and India are significant drivers of growth in the construction industry due to rapid urbanization and industrialization [3][4] Adoption Trends - The adoption of power tools is increasing across various industries due to their productivity, precision, and efficiency benefits [5] - The rise in DIY projects and home improvement activities is boosting the power tools market, particularly in developed and developing economies [6][9] Market Segmentation - By operation type, the cutting segment is expected to be the largest revenue segment [10] - The drilling and fastening tools segment held the largest share of the global power tools market in 2023 [12] - The electric-powered segment dominates the market, with significant growth projected due to innovations in battery technology [13] Competitive Landscape - The market is moderately fragmented, with key players including Stanley Black & Decker, Bosch Power Tools, and TTI [19] - Bosch Power Tools leads through technological advancements, while local vendors compete in this dynamic landscape [19] Key Questions Addressed - The report addresses key questions regarding market dominance, size, growth rate, trends, and key players in the global power tools market [21]
TETRA TECHNOLOGIES, INC. INTRODUCES TETRA OASIS TOTAL DESALINATION SOLUTION (TETRA OASIS TDS) AND RESULTS FROM PERMIAN BASIN BENEFICIAL RE-USE PILOT
Prnewswire· 2024-12-16 21:30
Core Viewpoint - TETRA Technologies, Inc. has launched TETRA Oasis TDS, a comprehensive water treatment and desalination technology aimed at beneficial re-use and mineral extraction from oil and gas produced water [1][3]. Company Developments - TETRA has successfully completed a commercial pilot project for desalinating produced water from the Delaware Basin, meeting Texas Railroad Commission standards and passing third-party Whole Effluent Toxicity testing [2][4]. - The company achieved a 92% recovery rate of desalinated water in its first field pilot program, with total dissolved solids levels between 40 ppm and 200 ppm, surpassing municipal drinking water standards [4]. - TETRA has engaged with high-quality customers to address water challenges and has seven non-disclosure agreements in place, indicating strong interest in its proprietary technology [5]. Market Opportunity - Rystad Energy estimates that produced water volumes in the Permian Basin will reach 8.3 billion barrels in 2024, a 5% increase from 2023, highlighting a growing market for water treatment solutions [5]. - The handling and treatment of produced water is identified as a $4 billion annual market opportunity in the Permian Basin, making it one of the fastest-growing sectors in the oil and gas industry [5]. Technology and Process - TETRA Oasis TDS involves multiple processing stages, starting with pre-treatment of produced water, followed by desalination using exclusive technologies from KMX and Hyrec [6][7]. - The final stage includes post-treatment to meet customer specifications and may involve mineral extraction, enhancing economic benefits [8]. Company Overview - TETRA Technologies, Inc. operates globally, focusing on environmentally conscious services and solutions across energy services, industrial chemicals, and critical minerals [11].
TETRA TECHNOLOGIES, INC. TO PARTICIPATE IN THE 2024 WELLS FARGO 23RD ANNUAL MIDSTREAM, ENERGY AND UTILITIES SYMPOSIUM
Prnewswire· 2024-12-03 14:00
Company Overview - TETRA Technologies, Inc. is an energy services and solutions company focused on environmentally conscious services and solutions [3] - The company operates on six continents and has a portfolio that includes Energy Services, Industrial Chemicals, and Critical Minerals [3] - TETRA provides products and services to the oil and gas industry and calcium chloride for diverse applications, while also expanding into the low-carbon energy market [3] Upcoming Event - TETRA's senior management will participate in the 2024 Wells Fargo 23rd Annual Midstream, Energy and Utilities Symposium in New York on December 10, 2024 [1] - CEO Brady Murphy and CFO Elijio Serrano will host one-on-one meetings from 8:00 A.M. to 5:00 P.M. (ET) on the same day [1]
Smart Outdoor Power Equipment Markets 2024-2029 with Stanley Black & Decker, Bosch, and TTI Dominating
GlobeNewswire News Room· 2024-11-26 09:14
Market Overview - The Smart Outdoor Power Equipment Market was valued at USD 8.45 Billion in 2023 and is projected to reach USD 11.56 Billion by 2029, with a CAGR of 5.36% [1] - The market is moderately fragmented, dominated by key players such as Stanley Black & Decker, Bosch, and TTI [1] Market Trends & Drivers - The growth of DIY culture and demand for user-friendly equipment is leading vendors to customize products for home improvement, making them more compact, lightweight, and affordable [2] - Industry 4.0 and smart precision manufacturing are transforming the market, with advancements in IoT, AI, and robotics enhancing the production of cordless and connected smart outdoor power equipment [5] - The expansion of rental services is driving demand, allowing consumers and businesses to access the latest equipment without significant financial commitment [6] Regional Insights - North America accounted for over 36% of the global market share in 2023, driven by consumer demand for advanced products and substantial R&D investments [3] - The region's growth is supported by advances in Li-ion battery technology, leading to increased demand for cordless smart outdoor power equipment [4] Adoption & Consumer Behavior - The adoption of smart outdoor power equipment is increasing due to their productivity, precision, and efficiency advantages over traditional tools [7] - The rise in residential improvement and DIY projects is notable, with consumers in developed and developing economies engaging in home maintenance activities [8]