TTI - TETRA Technologies Inc. (TTI) Q1 2024 Earnings Call Transcript

2024-05-01 16:11:04 ET

TETRA Technologies, Inc. (TTI)

Q1 2024 Earnings Conference Call

May 01, 2024 10:30 AM ET

Company Participants

Brady Murphy - Chief Executive Officer

Elijio Serrano - Chief Financial Officer

Conference Call Participants

Martin Malloy - Johnson Rice

Kurt Hallead - Benchmark

Josh Jayne - Daniel Energy Partners

Patrick Ouellette - Stifel

Bobby Brooks - Northland Capital Markets

Tim Moore - EF Hutton

Stephen Gengaro - Stifel

Presentation

Operator

Good morning, and welcome to TETRA Technologies' First Quarter 2024 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note that this event is being recorded.

I will now turn the conference over to Julian Higuera [ph]. Please go ahead.

Unidentified Company Representative

Thank you, Constantini. Good morning and thank you for joining TETRA's first quarter 2024 results call. The speakers for today's call are Brady Murphy, Chief Executive Officer; and Elijio Serrano, Chief Financial Officer.

I would like to remind you that this conference call may contain statements that are or may be deemed to be forward looking, including projections, financial guidance, profitability and estimated earnings. These statements are based on certain assumptions and analysis made by TETRA and are based on several factors. These statements are subject to several risks and uncertainties, many of which are beyond the control of the company. You are cautioned that such statements are not guarantees of future performance and that actual results may differ materially from those projected in the forward-looking statements.

In addition, in the course of the call, we may refer to EBITDA, adjusted EBITDA, adjusted EBITDA gross margins, free cash flow, net debt, net leverage ratio, liquidity, returns on net capital employed or other non-GAAP financial measures. Please refer to yesterday's press release or to our public website for reconciliations of non-GAAP financial measures to the nearest GAAP measures. These reconciliations are not a substitute for financial information prepared in accordance with GAAP and should be considered within the context of a complete financial results for the period.

In addition to our press release announcement, we encourage you to refer to our 10-K that we also filed yesterday. I will now turn it over to Brady.

Brady Murphy

Thanks, Julian. Good morning, everyone and welcome to TETRA's first quarter 2024 earnings call. I'll summarize some highlights for the first quarter and provide an update on our strategic initiatives before turning the call over to Elijio to discuss first quarter financials and provide an update on our balance sheet and second quarter outlook....

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