TTI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Completion Fluids & Products Segment revenues for the second quarter of 2026 increased 23.3% compared to the first quarter of 2026 driven by strong specialty chemicals and deepwater Brazil projects. Completion Fluids & Products Segment revenues increased slightly compared to the first six months of …

• Consolidated gross profit increased primarily due to higher activity levels from both the Completion Fluids & Products and Water & Flowback Services Segments. See Segment Comparisons section below for additional discussion.

• Consolidated other (income) expense, net, decreased compared to the prior quarter primarily due to a $1.1 million decrease in unrealized gains from the change in fair value of our investments issued by a privately-held company and by a $2.2 million decrease in foreign exchange gains, primarily in Br…

• Consolidated income tax expense increased $2.3 million. The increase in our tax expense was related to an increase in earnings as well as an increase in the company’s effective tax rate. The Company's effective tax rate increased to 35.4% for the three months ending June 30, 2026, from 28.2% in the …

• Revenues for our Completion Fluids & Products Segment increased sequentially primarily due to higher sales volumes in our Northern Europe specialty chemicals business as well as ongoing deepwater Brazil projects.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Completion Fluids & Products Segment revenues for the first three months of 2026 increased 9.5% compared to the fourth quarter of 2025 driven by strong specialty chemicals and deepwater Brazil projects. Completion Fluids & Products Segment revenues decreased slightly compared to the first three mont…

• Consolidated gross profit increased primarily due to higher activity levels from both the Completion Fluids & Products and Water & Flowback Services Segments. See Segment Comparisons section below for additional discussion. Consolidated gross profit also improved due to the absence of the $3.6 milli…

• Consolidated interest expense, net, decreased $0.7 million due to an increase in the interest expense capitalized for our Arkansas development.

• Consolidated other income, net, changed compared to the prior quarter primarily due to a $5.8 million decrease for the non-cash accrual related to our former corporate office lease in the prior quarter and by a $1.6 million increase in foreign exchange gains, primarily in Brazil and Argentina.

• Consolidated income tax expense decreased $5.9 million. The decrease in our tax expense was primarily attributed to our election during the prior quarter to change the United States tax classification of our Brazilian subsidiary from a partnership to a corporation, which resulted in approximately $6…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• hedge contracts or qualify for hedge accounting treatment. Accordingly, any change in the fair value of these derivative instruments during a period will be included in the determination of earnings for that period. As of June 30, 2026, we did not have any foreign currency exchange contracts outstan…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• We may not be able to fund or complete the Arkansas Bromine Project on the timeline or at the cost we currently anticipate, which could have a material adverse effect on our business and the market price of our common stock.

• The Arkansas Bromine Project represents a significant ongoing capital project for TETRA. Phase 1 of the Arkansas Bromine Project, which included site preparation, power infrastructure, and installation of the bromine tower, was completed in December 2025. Phase 2, which encompasses the major infrast…

• There is no assurance that we will be able to extend or renew customer contracts after the end of the initial contractual term. Any such nonrenewal, or renewals at reduced rates or the loss of contracts with any significant customer, could adversely impact our financial results.

• From time to time, we enter into long-term contracts with customers, which are subject to renegotiation in the normal course of business as they near the end of their initial terms. There is no assurance that any of our contracts with our customers will be extended or renewed by our customers or tha…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• During the three months ended June 30, 2026, none of the Company’s directors or officers of TETRA adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• During the three months ended March 31, 2026, Brady Murphy, President and Chief Executive Officer, adopted a Rule 10b5‑1 trading arrangement intended to comply with Rule 10b5‑1(c). The plan, adopted on March 30, 2026, provides for transactions over a period beginning July 1, 2026 and ending April 1,…