Tetra Technologies Posts 50% Completion Fluids Revenue Growth, Completes Bromine Plant Phase 1 Under Budget
Tetra reported record 2025 results, with Gulf of America completion fluids revenue rising 50% and global calcium chloride segment posting new EBITDA highs. It finished phase 1 of its bromine plant under budget, eyeing a 56% capacity boost, yet cautioned on 2026 drilling-driven revenue shifts and higher bromine costs.
1. Record 2025 Financial Performance
Tetra achieved its strongest year to date in 2025, driving a 50% increase in completion fluids revenue in the Gulf of America and setting new adjusted EBITDA highs in its global calcium chloride business, particularly in tech-grade products for chip manufacturing.
2. Bromine Plant Expansion
The company completed phase 1 of its new bromine processing facility on time and below budget, and its West Memphis plant produced 40% more bromine end products than required by its long-term supply agreement. Phase 1 sets the stage for a targeted 56% increase in overall bromine capacity by 2028.
3. 2026 Outlook and Risks
Management expects a market shift toward drilling over completions next year, which could curb revenue growth compared to 2025, and warns that higher spot prices for third-party bromine supply may compress margins until its new plant reaches full operation. Competitive pressures in US land services and extended timelines for large desalination projects also pose headwinds.