TETRA TECHNOLOGIES, INC. ANNOUNCES FIRST QUARTER 2025 RESULTS AND UPDATES FIRST-HALF 2025 GUIDANCE

Financial Performance - TETRA Technologies reported a record first-quarter Adjusted EBITDA of $32.3 million, a 41$157 million, reflecting a 17% sequential increase and a 4% increase compared to the previous year [2][8] - Net income before taxes and discontinued operations was $5.1 million, down from$7.4 million in the prior quarter due to unrealized mark-to-market gains [8] Segment Performance - Completion Fluids & Products generated revenue of $93 million, with adjusted EBITDA margins increasing to 35.7$57 million and $65 million, with revenue guidance adjusted to between$315 million and $345 million [4] Cash Flow and Capital Expenditures - TETRA generated$3.9 million in cash from operating activities and $4.2 million in free cash flow during the first quarter, after investing$11.2 million in the Arkansas bromine project [5][18] - Total capital expenditures for the quarter were $18 million, with significant investments directed towards the Arkansas bromine facility [18][20] Balance Sheet and Liquidity - As of March 31, 2025, the company had cash and cash equivalents of$41 million and long-term debt of $180 million, resulting in a net leverage ratio of 1.5X [20][19] - Liquidity improved to$220 million as of April 28, 2025, including an unused $75 million delayed draw feature under the Term Credit Agreement [19] Emerging Growth Initiatives - TETRA is advancing its desalination project, TETRA Oasis TDS, in collaboration with EOG Resources, targeting the recycling of produced water for beneficial reuse [13] - The company is positioned to benefit from increased sales of battery electrolytes to Eos Energy Enterprises as they ramp up production [14]