TETRA Technologies reports higher Q2 revenue as Arkansas bromine project advances

TETRA Technologies said second-quarter revenue, adjusted EBITDA and operating cash flow rose while it moved ahead with the Arkansas Bromine Project and other initiatives.

TETRA Technologies reported second-quarter 2026 results on Aug. 3, saying revenue, operating cash flow and adjusted EBITDA increased from the prior quarter. The Spring, Texas-based company said consolidated revenue was about $186 million for the three months ended June 30.

The company said it ended the quarter with $154.6 million in cash and cash equivalents, $183.3 million in total debt and net debt of $28.7 million.

Adjusted EBITDA was $31.9 million, up 24% sequentially, while income from continuing operations was $10.2 million, according to the company. TETRA said cash provided by operating activities was $34.4 million. It also reported total adjusted free cash flow of $9.9 million and base business adjusted free cash flow of $22.8 million.

Revenue rose 19% sequentially and 7% year over year. TETRA said Completion Fluids & Products revenue increased 23% sequentially and 3% from a year earlier, while Water & Flowback Services revenue rose 12% sequentially and 13% year over year.

President and CEO Brady Murphy described the quarter and first half as one of the company’s strongest performances in a decade, according to TETRA.

The board approved the final investment decision for the Arkansas Bromine Project on May 28. TETRA said the project is expected to be completed in the fourth quarter of 2027, with startup anticipated in early 2028 and operations by the end of 2027.

TETRA said the project will be funded partly by proceeds from a June equity offering and partly by operations, borrowings or other capital sources. The company said it issued about 12.4 million shares of common stock in June at $9.25 per share, raising net proceeds of $108.2 million.

The company said the Arkansas project is intended to support growth in deepwater and electrolyte markets beyond 2030. It also cited development work on TETRA Neptune Z-Lite, a deepwater completion fluid, and said Beacon Offshore Energy awarded a contract to deploy it in a three-well, 20,000 psi Gulf of America program expected to start in 2026.

TETRA said its Oasis Total Desalination Solution remains under development, with a target to desalinate 500,000 barrels of produced water per day by 2030. The company said it completed engineering work on a 100,000-barrel-per-day plant design and estimated capital spending savings of up to 23% and operating expense savings of up to 24% versus a 25,000-barrel-per-day plant.

The release also said TETRA received Notices of Allowance that expand the Oasis patent portfolio and that Eos is ramping manufacturing capacity toward a year-end 2026 goal of 4 GWh. TETRA cited Wood Mackenzie data saying deepwater project investment is expected to reach $111 billion in 2026, the highest since 2022.

TETRA said the Arkansas Bromine Project remains on a path toward completion in late 2027, while Z-Lite, Oasis and Eos continue moving through development and capacity expansion milestones.

Sources

• PR Newswire release: TETRA Technologies reports strong second-quarter 2026 results

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.