TETRA Technologies
Supplies completion fluids, calcium chloride, water services, and future-facing bromine chemistry.
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Profile
Runs Completion Fluids & Products and Water & Flowback Services across oil and gas basins, selling clear brine fluids, calcium chloride products, zinc-bromide electrolyte, water management, flowback, and production testing. Execution is tied to energy activity, chemical supply, and a pending Arkansas bromine project.
Manufactures and sells completion-fluid chemistry through Completion Fluids & Products, including clear brine fluids, additives, calcium chloride products, and zinc-bromide electrolyte. Water & Flowback Services provides water management, frac flowback, production testing, produced-water recycling and treatment, and desalination services.
Operations serve oil and gas customers in U.S. and selected international basins, with deepwater fluids and industrial chemicals anchoring the chemistry side. The water business is more exposed to U.S. onshore activity and Permian reuse demand.
The Evergreen bromine project in Arkansas is a future supply-chain move, not current production. Financing, energy activity, and brine-resource development shape the business.
Company facts
Key statistics
Year to date −30.4% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | H.C. Wainwright | Reiterate | Buy | $9 | ||
| Jul 8, 2026 | Raymond James | Upgrade | Outperform | $10 | ||
| Jun 30, 2026 | Northland Securities | Target | $11.50 | $14 | ||
| Jan 21, 2026 | Clear Street | Downgrade | Buy | Hold | ||
| Jan 12, 2026 | Stifel Nicolaus | Target | $9 | $13 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.08 | $0.08 | 0.0% | $176.2M | $185.7M | +5.4% | +11.15% |
| Apr 29, 2026Q1 FY26 | $0.03 | $0.06 | +100.0% | $151.2M | $156.3M | +3.3% | −1.86% |
| Feb 25, 2026Q4 FY25 | $0.03 | $0.02 | −33.3% | $141.1M | $146.7M | +4.0% | −18.67% |
| Oct 28, 2025Q3 FY25 | $0.04 | $0.04 | 0.0% | $144.4M | $153.2M | +6.1% | −7.33% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $157.1M | $173.9M | $153.2M | $146.7M | $156.3M | $185.7M | |
| Gross profit | $42.9M | $48.2M | $36.4M | $32.0M | $38.2M | $45.7M | |
| Operating income | $18.8M | $23.0M | $11.1M | $6.1M | $12.8M | $20.1M | |
| Net income | $4.0M | $11.3M | $4.2M | −$16.5M | $8.3M | $10.2M | |
| Diluted EPS | $0.03 | $0.08 | $0.03 | −$0.11 | $0.06 | $0.07 | |
| Gross margin | 27.3% | 27.7% | 23.7% | 21.8% | 24.5% | 24.6% | |
| Operating margin | 11.9% | 13.2% | 7.3% | 4.1% | 8.2% | 10.8% |
Fiscal years (4-quarter sums)FY21 $388.3M · FY22 $553.2M · FY23 $626.3M · FY24 $599.1M · FY25 $630.9M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $154.6M · Total debt $223.8M · Total assets $800.1M · Shareholders' equity $407.8M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 146.20M · Float 137.21M · 93.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Pictet Asset Management SA | 14.46M | 5.30% | 13D | Apr 15, 2025 |
| BlackRock, Inc. | 12.22M | 8.36% | 13F | Aug 7, 2026 |
| Neuberger Berman Group LLC | 8.67M | 5.93% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 6.12M | 4.18% | 13F | Aug 13, 2026 |
| Ameriprise Financial Inc | 6.07M | 4.15% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 2, 2026 | Brady M. Murphy | officer: President & CEO | −61 | $10.01 |
| Jul 1, 2026 | Brady M. Murphy | officer: President & CEO | −50,000 | $10.72 |
| Jun 9, 2026 | Kurt Hallead | officer: VP-Treasurer & IR | +22,000 | $9.86 |
| Nov 10, 2025 | Shoemake Alicia R. Boston | officer: Sr. VP and General Counsel | −19,257 | $7.94 |
Peers
- Select Water Solutions
Water services, recycling, disposal, and completion chemistry
- Halliburton
Global fluids and production-testing overlap through Baroid
- SLB
Completion fluids, flowback testing, and production chemistry
- Baker Hughes
Drilling/completion fluids and oilfield chemistry overlap
- WaterBridge Infrastructure
Pure-play produced-water infrastructure in core US basins
- NGL Energy Partners
Large produced-water disposal and recycling network
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TETRA Technologies | $6.77 | −0.64% | $995.6M | 132.5 | 22.2 | 1.6 | +6.8% |
| Select Water Solutions | $19.28 | +0.05% | $2.11B | 71.7 | 28.1 | 1.5 | +8.7% |
| Halliburton | $36.73 | +1.53% | $30.22B | 18.9 | 14.3 | 1.4 | +3.7% |
| SLB | $57.61 | +0.50% | $85.09B | 28.0 | 20.2 | 2.3 | +5.0% |
| Baker Hughes | $62.78 | +0.60% | $61.95B | 20.1 | 23.4 | 2.2 | −2.4% |
| WaterBridge Infrastructure | $31.44 | 0.00% | $1.48B | 70.3 | 52.4 | 2.0 | — |
| NGL Energy Partners | $18.15 | +0.72% | $2.25B | — | 14.3 | 0.6 | +59.1% |
| Median | 28.0 | 21.8 | 1.7 | +5.0% |