Core Viewpoint - TETRA Technologies, Inc. has appointed Kurt Hallead as Treasurer and Vice President of Investor Relations, bringing extensive experience in the energy sector [1][2]. Company Overview - TETRA Technologies, Inc. is an energy services and solutions company focused on environmentally conscious services and solutions, operating on six continents [3]. - The company's portfolio includes Energy Services, Industrial Chemicals, and Critical Minerals, with a commitment to expanding into the low-carbon energy market [3]. - TETRA provides products and services to the oil and gas industry and calcium chloride for various applications, aiming to meet the demand for sustainable energy in the 21st century [3].

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $53.2 million, a 33% sequential increase from $40 million in Q3 2024 [21] - Full year 2024 total revenue was $187.9 million, down from $309.5 million in 2023, primarily due to decreased utilization in well completion services [21][22] - Net loss for Q4 2024 was $15.5 million, or a loss of $0.32 per diluted share, while the full year net loss was $207.3 million, or a loss of $4.31 per diluted share [27] - Adjusted EBITDA for Q4 2024 was a negative $4.8 million, improving from a negative $6.4 million in Q3 2024 [28] Business Line Data and Key Metrics Changes - Infrastructure services revenue for Q4 2024 was $27.9 million, slightly up from $26 million in Q3 2024, with full year revenue flat at $110.4 million compared to $110.5 million in 2023 [23] - Well completion services generated $15.8 million in Q4 2024, with an average of 1.1 fleets utilized [25] - Sand division sold 129,000 tons of sand in Q4 2024 at an average price of $22.54 per ton, down from 163,000 tons at $22.89 in Q3 2024 [26] Market Data and Key Metrics Changes - The company noted improved pressure pumping utilization and strong demand across various businesses, including engineering, fiber, and T&D services [10] - There are significant bidding opportunities in the market related to engineering fiber transmission and distribution [14] Company Strategy and Development Direction - The company aims to unlock value for shareholders while maintaining a strong balance sheet and evaluating strategic opportunities for accretive assets [11][12] - Strategic investments are being made to add equipment and crews in response to growing utility demand [15] - The focus for 2025 includes organic growth, particularly in infrastructure services, with potential for acquisitions if beneficial [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about demand implications for natural gas driven by LNG export capacity and electricity demand [22] - The company expects steady completions activity in 2025 with potential upside from natural gas demand [17] - Management emphasized disciplined capital stewardship and alignment of spending with customer demand [26] Other Important Information - The company had unrestricted cash of $61 million as of December 31, 2024, with total liquidity remaining strong and debt-free [32] - CapEx for Q4 2024 was approximately $6.1 million, with a budget of $12 million for 2025 focused on growth and maintenance [29] Q&A Session Summary Question: Where is the best growth potential for the infrastructure business? - Management indicated that most growth is currently organic, with increased demand from larger IOUs and potential for co-op involvement [38] Question: Can you provide details on the rental business and its growth drivers? - The rental business primarily serves E&P companies, with opportunities in the construction market and a broad portfolio of assets including helicopters [42] Question: What is the outlook for the sand business in 2025? - Management noted stabilized demand and the ability to expand capacity as key drivers for growth in the sand business [44] Question: Can you break down the CapEx outlook for 2025? - Approximately half of the $12 million CapEx budget is allocated to growing the rental business, with about $5 million for pressure pumping upgrades [46] Question: What are the primary focuses for the company moving forward? - The focus includes rightsizing the company, evaluating existing businesses, and exploring potential acquisitions now that the company has cash available [48]

Core Insights - Cordia has completed the acquisition of Duquesne University's plant distribution system assets for $50 million, enhancing their long-term partnership [1][2] - The acquisition includes a 35-year energy service agreement, allowing Cordia to provide energy services to the University [1][2] - This transaction builds on a previous acquisition in 2019, where Cordia acquired Duquesne's district energy cogeneration utility plant for $102 million [2] Company and Industry Developments - The interconnection of Duquesne's district energy system with Cordia's Uptown district energy system has improved operational efficiency and redundancy, ensuring uninterrupted service [3] - The partnership has enabled the monetization of excess steam capacity from Duquesne's campus plant, generating additional economic value for the University [3] - In 2022, Cordia and Duquesne expanded their partnership through a steam line interconnection agreement, facilitating steam delivery to multiple buildings in downtown Pittsburgh [4] Commitment to Sustainability - Cordia emphasizes its commitment to providing reliable, sustainable, and efficient energy solutions, supporting Pittsburgh's energy infrastructure and community sustainability goals [5] - Cordia serves over 700 customers across the U.S. with heating, cooling, and electricity, aiming for a more resilient and sustainable energy future [5]

Financial Data and Key Metrics Changes - Expro reported Q4 2024 revenue of $437 million, with adjusted EBITDA of $100 million, representing 23% of revenue [6][30] - Q4 adjusted cash flow from operations was $115 million, and free cash flow was $75 million, marking the best financial performance since the Expro Freix merger [6][7] - For the full year 2024, revenue reached $1.7 billion, up 13% year over year, with adjusted EBITDA of $347 million, a 40% increase from 2023 [9][30] Business Line Data and Key Metrics Changes - The Subsea Well Access business saw increased activity, contributing to revenue growth in Q4, particularly in Angola [7] - The Well Intervention and Integrity business is expected to generate over $300 million in 2025, with improved margins due to technology investments [21] - The Well Flow Management segment partnered with Petrobras to develop new flow meter technology, enhancing efficiency [22] Market Data and Key Metrics Changes - North and Latin America (NLA) revenue was $139 million in Q4, flat quarter over quarter, with expectations for mid-single-digit revenue growth in 2025 [31][32] - Europe and Sub-Saharan Africa (EESA) revenue increased to $143 million in Q4, driven by higher subsea activity in Angola [34] - The Middle East and North Africa (MENA) revenue was $93 million in Q4, with expectations for mid to high single-digit growth in 2025 [37] Company Strategy and Development Direction - The company aims for stable to modest revenue growth in 2025, focusing on operational efficiency and strategic acquisitions [18][25] - Expro is prioritizing investments in high-return projects and technology-enabled services to enhance margins and capture growth opportunities [18][19] - The Drive 25 initiative targets a 7% to 8% reduction in support costs over the next 12 to 18 months, aiming for improved operating leverage [24][40] Management's Comments on Operating Environment and Future Outlook - Management anticipates a transition year for the energy services industry in 2025, with stable revenue and improved margins expected [25][46] - The outlook for oil and gas investment remains positive, driven by economic growth and security of supply considerations [46] - Concerns about oil supply are expected to ease, potentially leading to increased activity in international and offshore markets [46] Other Important Information - The company achieved nearly 1.9 million man hours without a health, safety, and environmental-related lost time incident during the Congo project [8] - Total available liquidity at year-end was approximately $320 million, with cash and cash equivalents of about $185 million [41] Q&A Session Summary Question: Clarification on 2025 revenue guidance - Management indicated that the stable to modestly up revenue guidance for 2025 is due to market exposure and strategic M&A efforts, particularly in unconventional gas markets [48][54] Question: Insights on Q1 revenue decline - The steeper sequential decline in Q1 revenue is attributed to a strong Q4 performance and typical winter season impacts, with expectations for a rebound in Q2 [55][57] Question: Free cash flow progression - Management highlighted that free cash flow margin is expected to improve through cost discipline and operational efficiency initiatives, with a target of 10% over time [63][66] Question: Capital allocation priorities - The company maintains an appetite for M&A while focusing on creating long-term shareholder value, balancing between CapEx and share buybacks [69][71] Question: Resolution of the Congo project - Management confirmed successful resolution of outstanding variation orders related to the Congo project, with expectations for improved margins in the O&M phase [74][76]

As filed with the Securities and Exchange Commission on September 24, 2024 Registration No. 333-275956 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1/A Amendment No. 10 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ENERGYS GROUP LIMITED (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 1731 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standa ...

Amendment No. 8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ENERGYS GROUP LIMITED As filed with the Securities and Exchange Commission on September 6, 2024 Registration No. 333-275956 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1/A (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 1731 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard ...

As filed with the Securities and Exchange Commission on June 3, 2024 Registration No. 333-275956 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1/A Amendment No. 6 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ENERGYS GROUP LIMITED (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 1731 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Indu ...

As filed with the Securities and Exchange Commission on May 10, 2024 Registration No. 333-275956 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1/A Amendment No. 5 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ENERGYS GROUP LIMITED (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 1731 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Indu ...

As filed with the Securities and Exchange Commission on March 22, 2024 Registration No. 333-275956 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1/A Amendment No. 4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ENERGYS GROUP LIMITED (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 1731 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard In ...

As filed with the Securities and Exchange Commission on March 5, 2024 Registration No. 333-275956 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1/A Amendment No. 3 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ENERGYS GROUP LIMITED (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 1731 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Ind ...