TETRA Technologies, Inc. (NYSE:TTI) Q2 2023 Earnings Conference Call August 1, 2023 10:30 AM ET

Company Participants

Rigo Gonzalez - Corporate Finance & IR Manager

Brady Murphy - President, CEO & Director

Elijio Serrano - SVP & CFO

Conference Call Participants

Martin Malloy - Johnson Rice & Company

Stephen Gengaro - Stifel, Nicolaus & Company

Operator

Good morning, and welcome to TETRA Technologies Second Quarter 2023 Results Conference Call. [Operator Instructions]

I would now like to turn the conference over to Rigo Gonzalez, Manager of Corporate Finance and Investor Relations. Please go ahead.

Rigo Gonzalez

Thank you, Chris. Good morning, and thank you for joining TETRA's second quarter 2023 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 our complete financial results for the period. In addition to our press release announcements that went yesterday, we encourage you to also refer to our 10-Q that we also filed yesterday.

I will now turn it over to Brady.

Brady Murphy

Thanks, Rigo. Good morning, everyone, and welcome to TETRA's Second Quarter 2023 Earnings Call. Our historically strong second quarter results demonstrate the strength of our management team and our broader employees' ability to execute on our base business, while also making meaningful progress on our longer-term strategic growth initiatives. I'll provide an overview of our second quarter highlights before turning the call over to Elijio to provide an overview of our financials, and then we'll open the call for questions.