TETRA Technologies, Inc. (NYSE:TTI) Q3 2022 Results Conference Call November 1, 2022 10:30 AM ET

Company Participants

Brady Murphy - CEO

Elijio Serrano - CFO

Conference Call Participants

Stephen Gengaro - Stifel

Tim Moore - EF Hutton

Martin Malloy - Johnson Rice

Operator

Good morning, and welcome to TETRA Technologies Third Quarter 2022 Results Conference Call. The speakers for today's call are Brady Murphy, Chief Executive Officer; and Elijio Serrano, Chief Financial Officer. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Mr. Serrano. Please go ahead.

Elijio Serrano

Thank you, Marlise. Good morning, and thank you for joining TETRA's Third Quarter 2022 Results Call.

I would like to remind you that this conference call may contain statements that are or may be deemed to be forward-looking. 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 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 as should be considered within the context of our complete financial results for the period. In addition to our press release announcement that went out yesterday, we encourage you to refer to our 10-Q that will be filed later today.

I will now turn it over to Brady.

Brady Murphy

Thanks, Elijio, and good morning, everyone. Welcome to TETRA's third quarter 2022 earnings call. I'll summarize some highlights for the third quarter a current outlook as well as provide an update on our low carbon initiatives before turning it back to Elijio to discuss cash flow, the balance sheet, income taxes and liquidity.

In the third quarter, we achieved some strong financial results but also some very key milestones with regards to the strategic direction of the company, which we communicated 21 months ago following the sale of our controlling interest in CSI Compressco. And when we introduced our strategy to leverage our core strengths around [indiscernible] to the evolving, rapidly growing low carbon energy technologies.