TETRA Technologies, Inc. announced record first-quarter 2025 Adjusted EBITDA of $32.3 million, marking a 41% sequential increase and a year-over-year improvement. Total revenue for the quarter reached $157 million, up 17% sequentially and 4% from the previous year.
The strong performance was primarily driven by the Completion Fluids & Products segment, which saw its adjusted EBITDA margins increase to 35.7% from 27.3% in the fourth quarter. This was attributed to robust deepwater completion fluids activity, including the successful completion of the first of three TETRA CS Neptune wells, and a strong seasonal industrial chemicals business in Northern Europe.
TETRA updated its first-half 2025 Adjusted EBITDA guidance, increasing the lower end to a range of $57 million to $65 million, up from the previous $55 million to $65 million. The company also generated $4.2 million of free cash flow after investing $11.2 million in its Arkansas bromine project, and realized $19 million in cash proceeds from the sale of its Kodiak shares during the quarter. Liquidity improved to $220 million as of April 28, 2025.
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