- Outlines road map to double revenues and more than triple adjusted EBITDA and increase free cash flow by the end of the decade through expansion into the water desalination and energy storage sectors.
- Management expects improved financial performance to support over $100 million of targeted annualized adjusted free cash flow by 2028 and beyond to transition to a return of capital allocation strategy.
THE WOODLANDS, Texas, Sept. 25, 2025 /PRNewswire/ — TETRA Technologies, Inc. (“TETRA” or the “Company”) (NYSE: TTI) this morning outlined a path towards reshaping the Company by capitalizing on several key emerging growth initiatives that are positioned to evolve the Company’s business profile and create long-term shareholder value.
Brady Murphy, President & Chief Executive Officer comments, “Our ONE TETRA 2030 strategy to focus on our core expertise around fluid chemistry will enable a new era of growth for TETRA. Our strategy leverages decades of fluids chemistry expertise to expand into new high-growth end markets that include battery electrolytes for long-duration energy storage and produced water desalination for beneficial reuse. We are targeting to more than double revenue and triple adjusted EBITDA by 2030 and targeting to generate over $100 million in annual adjusted free cash flow by 2028 and beyond, positioning TETRA to deliver meaningful returns to shareholders. By 2030, we expect that approximately two-thirds of our business will come from our Specialty Chemicals & Minerals and Water Treatment & Desalination segments. It is our intention to create new business segments to provide better visibility of our financial performance and allow those new revenue and earnings streams to be benchmarked against relevant industry peers.”
Investor Day Highlights
By 2030, TETRA is targeting
- Revenue to be between $1.2 billion and $1.3 billion, compared to $607 million (second quarter 2025 trailing twelve-month “Q2-2025 TTM”), representing a 15% compounded annual growth rate (“CAGR”)
- Adjusted EBITDA in the $300 million to $350 million range, compared to $114 million TTM Q2-2025 and adjusted EBITDA margins in the 25% to 28% range, compared to 18.9% TTM Q2-2025
- EPS between $1.20–$1.30, and
- Annualized adjusted free cash flow above $100 million from 2028 onwards.
To achieve these targets TETRA is expecting that subject to attainment of certain milestones, in 2027 it will begin reporting three business segments to allow investors to better assess the performance of the current oil and gas services and products business and the two new growth initiatives, which are outlined below.
- Specialty Chemicals & Minerals is targeting 2030 revenue between $430 million and $460 million (five year CAGR >25%) with adjusted EBITDA margins in the 30% range as it is expected to (a) leverage its strong calcium chloride market position in the United States and Europe, (b) bring online in late 2027 its bromine processing facility to provide incremental bromine volumes at a lower cost than it is sourcing today, and (c) ship electrolytes volumes of 8 Gwhs by 2030, or sooner, to keep up with battery storage requirements supporting AI data centers.
- Water Treatment & Desalination is targeting 2030 revenue between $340 million and $360 million (five year CAGR in excess of 55%) with adjusted EBITDA margins also in the 30% range …