TETRA TECHNOLOGIES INC Files 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>TETRA TECHNOLOGIES INC filed its 2023 10-K report detailing financial performance and company information.</b>

AI Summary

TETRA TECHNOLOGIES INC (TTI) filed a Annual Report (10-K) with the SEC on February 27, 2024. TETRA TECHNOLOGIES INC reported total assets of $419,135,507 for the fiscal year ended December 31, 2023. The company's revenue from Products was $130,414,694 in 2023. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. TETRA TECHNOLOGIES INC is incorporated in Delaware. The company's principal business address is 24955 Interstate 45 North, The Woodlands, TX 77380.

Why It Matters

For investors and stakeholders tracking TETRA TECHNOLOGIES INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of TETRA TECHNOLOGIES INC's financial health, operational performance, and strategic positioning for the fiscal year 2023, crucial for investors and stakeholders to assess the company's current standing and future prospects. The detailed financial data, including asset values and revenue breakdowns, allows for a direct comparison with previous fiscal years and industry benchmarks, aiding in investment decisions and competitive analysis.

Risk Assessment

Risk Level: medium — TETRA TECHNOLOGIES INC shows moderate risk based on this filing. The filing is a standard 10-K, which provides a broad overview of the company's financial health and operations, but lacks specific forward-looking statements or immediate catalysts that would indicate a high-risk or low-risk profile based solely on this document.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand TETRA TECHNOLOGIES INC's performance and potential challenges in the upcoming fiscal year.

Revenue Breakdown

Key Numbers

• 419,135,507 — Total Assets (As of December 31, 2023)
• 130,414,694 — Product Revenue (For the fiscal year ended December 31, 2023)
• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-27 — Filing Date (Date of submission)

Key Players & Entities

• TETRA TECHNOLOGIES INC (company) — Filer name
• 2023-12-31 (date) — Period of report
• 2024-02-27 (date) — Filed as of date
• 0000844965 (company) — Central Index Key
• 1311 (industry_code) — Standard Industrial Classification
• DE (state) — State of Incorporation
• 2813671983 (phone) — Business phone
• TTI (ticker) — Ticker symbol

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-27: Filing Date — Date the 10-K report was officially submitted to the SEC.

Key Financial Figures

• $5.0 million — nologies. In December 2021, we invested $5.0 million in a convertible note issued by CarbonF

Filing Documents

• tti-20231231.htm (10-K) — 2043KB
• a20231231ex103.htm (EX-10.3) — 139KB
• a20231231ex1033.htm (EX-10.33) — 61KB
• a20231231ex1034.htm (EX-10.34) — 73KB
• a20231231ex1035.htm (EX-10.35) — 57KB
• a20231231ex21.htm (EX-21) — 21KB
• a20231231ex231.htm (EX-23.1) — 3KB
• a20231231ex311.htm (EX-31.1) — 11KB
• a20231231ex312.htm (EX-31.2) — 12KB
• a20231231ex321.htm (EX-32.1) — 7KB
• a20231231ex322.htm (EX-32.2) — 7KB
• a20231231ex971.htm (EX-97.1) — 30KB
• tti-20231231_g1.jpg (GRAPHIC) — 186KB
• 0000844965-24-000020.txt (&nbsp;) — 12516KB
• tti-20231231.xsd (EX-101.SCH) — 65KB
• tti-20231231_cal.xml (EX-101.CAL) — 117KB
• tti-20231231_def.xml (EX-101.DEF) — 400KB
• tti-20231231_lab.xml (EX-101.LAB) — 992KB
• tti-20231231_pre.xml (EX-101.PRE) — 702KB
• tti-20231231_htm.xml (XML) — 1894KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 25 I tem 1C. C ybersecurity 25 Item 2.

Properties

Properties 26 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 29 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 31 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 41 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 41 Item 9A.

Controls and Procedures

Controls and Procedures 41 Item 9B. Other Information 42 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 42 Part III Item 10. Directors, Executive Officers, and Corporate Governance 42 Item 11.

Executive Compensation

Executive Compensation 43 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 43 Item 13. Certain Relationships and Related Transactions, and Director Independence 43 Item 14. Principal Accounting Fees and Services 43 Part IV Item 15. Exhibits, Financial Statement Schedules 43 Item 16. Form 10-K Summary 47

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K (this "Annual Report") contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). Forward-looking statements in this Annual Report are identifiable by the use of the following words, the negative of such words, and other similar words: "anticipates", "assumes", "believes", "budgets", "could", "estimates", "expects", "forecasts", "goal", "intends", "may", "might", "plans", "predicts", "projects", "schedules", "seeks", "should", "targets", "will", and "would". Such forward-looking statements reflect our current views with respect to future events and financial performance and are based on assumptions that we believe to be reasonable, but such forward-looking statements are subject to numerous risks, and uncertainties, including, but not limited to: economic and operating conditions that are outside of our control, including the trading price of our common stock, and the supply, demand, and prices of oil and natural gas; the availability of adequate sources of capital to us; the effect of inflation on the cost of goods and services; the levels of competition we encounter; the activity levels of our customers; our operational performance; actions taken by our customers, suppliers, competitors and third-party operators; the availability of raw materials and labor at reasonable prices; risks related to the inferred mineral resources of lithium and bromine, the potential extraction of lithium and bromine from the leased acreage, the development of the assets including construction of lithium and bromine extraction plants, the economic viability thereof, the demand for such resources, and the timing and cost of such activities; the ability to obtain an initial economic assessment and/or pre-feasibility or feasibility studies regarding

Business

Item 1. Business. The financial statements presented in this Annual Report are the consolidated financial statements of TETRA Technologies, Inc., a Delaware corporation and its subsidiaries. When the terms "TETRA," "the Company," "we," "us," or "our" are used in this document, those terms refer to TETRA Technologies, Inc. and its consolidated subsidiaries. TETRA is a Delaware corporation incorporated in 1981. Our corporate headquarters are located at 24955 Interstate 45 North, The Woodlands, Texas, 77380. Our phone number is 281-367-1983 and our website is www.tetratec.com. Our common stock is traded on the New York Stock Exchange (the "NYSE") under the symbol "TTI." Our Corporate Governance Guidelines, Code of Business Conduct, Code of Ethics for Senior Financial Officers, Policy on Trading in Company Securities, Audit Committee Charter, Human Capital Management and Compensation Committee Charter, and Nominating, Governance and Sustainability Committee Charter, as well as our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, and all amendments to those reports are all available, free of charge, on our website at www.tetratec.com as soon as practicable after we file the reports with the SEC. Information contained on or connected to our website is not, and shall not be deemed to be, a part of this Annual Report on Form 10-K or incorporated into any other filings with the SEC. The documents referenced above are available in print at no cost to any stockholder who requests them from our Corporate Secretary. About TETRA TETRA Technologies, Inc., together with its consolidated subsidiaries, is an energy services and solutions company with operations on six continents focused on developing environmentally conscious services and solutions that help make people's lives better. In addition to providing products and services to the oil and gas industry and calcium chloride for diverse applications, TETRA is expanding into

View Full Filing

View this 10-K filing on SEC EDGAR