TETRA Technologies, Inc. (NYSE:TTI) Q4 2023 Results Conference Call February 28, 2024 10:30 AM ET

Company Participants

Rigo Gonzalez - Manager of Corporate Finance and Investor Relations

Brady Murphy - President and Chief Executive Officer

Elijio Serrano - Senior Vice President and CFO

Conference Call Participants

Martin Malloy - Johnson Rice

Bobby Brooks - Northland Capital Markets

Kurt Hallead - Benchmark

Patrick Ouellette - Stifel

Tim Moore - EF Hutton

Operator

Good morning, and welcome to TETRA Technologies Fourth Quarter 2023 Results Conference Call. [Operator Instructions] Please note this event is being recorded.

I will now turn the conference over to Rigo Gonzalez. Go ahead.

Rigo Gonzalez

Thank you, Joel. Good morning, and thank you for joining TETRA's Fourth 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 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

Thank you, Rigo. Good morning, everyone, and welcome to TETRA's fourth quarter earnings call. 2023 was a historical year for the company. And despite higher-than-usual year-ending activity slowdowns in a few of our segments, we are seeing good activity recovery in the first half of 2024, and expect another year of growth.