Newpark Resources Inc. (NYSE:NR) Q2 2017 Earnings Conference Call - Preliminary Transcript

Jul 28, 2017 • 10:00 am ET


Newpark Resources Inc. (NYSE:NR) Q2 2017 Earnings Conference Call - Preliminary Transcript


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Greetings and welcome to Newpark Resources Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Mr. Ken Dennard. Thank you. You may begin.

Ken Dennard

Thank you, operator, and good morning, everyone. We appreciate you joining us for the Newpark Resources conference call and webcast to review second quarter 2017 results.

With me today are Paul Howes, Newpark's President and Chief Executive Officer; and Gregg Piontek, Newpark's Chief Financial Officer. Following my remarks, Paul will provide a high-level commentary on the second quarter, and Gregg will discuss the financial details and outlook. Paul will then conclude the discussion before opening the call for Q&A.

Before I turn the call over to management, I have a few normal housekeeping details to run through. There will be a replay of today's call. It'll be available by webcast on our website at There'll also be a telephonic replay available until August 11th, and instructions on how to access those replay features were included in yesterday's press release. Please note that the information reported on this call speaks only as of today, July 28th, 2017, and therefore, you are advised that time-sensitive information may no longer be accurate to time of any replay or transcript reading.

In addition, the comments made by management during this conference call may contain forward-looking statements within the meaning of the United States federal security laws. These forward-looking statements reflect the current views of Newpark's management. However, various risks, uncertainties and contingencies could cause actual results, performance or achievements to differ materially from those expressed in the statements made by management. The listener is encouraged to read the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K to understand certain of those risks, uncertainties and contingencies.

Also, comments today made by management may include certain non-GAAP financial measures. Additional details and reconciliation to the most directly comparable GAAP financial measures are included in the quarterly press release, which can be found on the company's website.

And now with that said, I'd like to turn the call over to Newpark's President and CEO, Mr. Paul Howes.

Paul L. Howes

Thank you, Ken, and good morning to everyone. Before I comment on the specifics of the quarter, I'd like to take a moment to address the recent leadership changes in our fluids business. As we announced previously, effective July 1st, Phil Vollands has been promoted to President of our Fluids Business succeeding Bruce Smith. As Bruce transitions into his new role as Chief Technology Officer for Fluids, I would like to personally thank him for his outstanding leadership and significant contribution over the past 19 years.

For the change in the organization, we are also taking this opportunity to modify the structure of our quarterly earnings calls. Specifically, Gregg Piontek and I will provide the quarterly updates, including progress on our strategy, overview the operating performance, financial results and outlook. For the Q&A portion