Key Takeaways CWCO uses Reverse Osmosis at all plants, supporting global desalination and potable water expansion. CWCO operates 10 plants with 26.2M GPD capacity and seeks growth via alliances, JVs and acquisitions. CWCO faces liquidity risks from delayed receivables in the Bahamas and fluctuating water service demand.Consolidated Water Co. Ltd. (CWCO) continues to benefit from the use of the most advanced technology to convert seawater to potable water to meet customer needs. The expansion of operations ...

Key Takeaways CWCO raised its quarterly dividend by 47.4% year over year to 14 cents per share. The stable performance of its retail, bulk and manufacturing segments has resulted in a dividend hike. A $204 million Hawaii project and favorable outlook for its services segment to fuel future dividend growth.Consolidated Water Co. Ltd. (CWCO) announced that its board of directors has approved a year-over-year increase in the quarterly dividend rate by 47.4% from 9.5 cents in third-quarter 2024. The revised q ...

Financial Data and Key Metrics Changes - TETRA reported a record first quarter adjusted EBITDA of $32.3 million, with adjusted EBITDA margins of 20.5% [5][11] - Total revenue reached $157 million, reflecting a 17% sequential increase and a 4% year-over-year increase [5][11] - Adjusted EBITDA increased by 41% sequentially and year-over-year [5] Business Line Data and Key Metrics Changes - Completion Fluids and Products segment revenue was $93 million, up 35% sequentially, with adjusted EBITDA of $33.2 million, a 77% sequential increase [21] - Water and Flowback Services segment revenue declined by 2% sequentially to $64 million but increased by 13% year-over-year, with adjusted EBITDA of $8.3 million [21][22] Market Data and Key Metrics Changes - Offshore deepwater operations saw a 60% year-over-year increase, with 24 deepwater projects worked on in the quarter compared to 15 in the same period last year [6] - The U.S. Frac activity declined approximately 10%, but TETRA's Water and Flowback Services outperformed this decline [7] Company Strategy and Development Direction - TETRA is focusing on emerging growth initiatives, including desalination of produced water and energy storage solutions [12][14] - The company plans to self-fund its bromine project without issuing equity or increasing debt, balancing investments with demand projections [18][19] - TETRA is prioritizing automation in its Water and Flowback segment to improve margins and operational efficiency [9][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong second quarter outlook despite macroeconomic uncertainties, adjusting the lower end of adjusted EBITDA guidance for the first half of 2025 to $57 million [11][28] - The company anticipates continued growth in 2025, driven by strong free cash flow from its base business [28] Other Important Information - TETRA's liquidity at the end of the first quarter was approximately $219 million, with a net leverage ratio improved to 1.5 times [24] - The company is actively engaging with regulatory bodies to support beneficial reuse of produced water, indicating a positive trend in regulatory support [36][37] Q&A Session Summary Question: What are the biggest holdups for customers on commercial pilots for Oasis? - Management indicated that customers need to be comfortable with the technology and evolving environmental regulations, with expectations for multiple pilot projects in 2026 [34] Question: Can you provide specifics on regulatory support for beneficial reuse? - Management highlighted engagement with the Texas Railroad Commission and legislative movements supporting surface discharge and beneficial reuse of produced water [36] Question: Will the first production well for Evergreen be left uncompleted until the processing facility is ready? - Yes, the first well will be drilled and put on standby until the bromine processing facility is operational [40] Question: What is the outlook for the deepwater market compared to previous quarters? - Management noted that there have been no changes to scheduled deepwater projects, indicating resilience despite commodity price fluctuations [98][101]