Newpark Resources Inc. (NYSE:NR) Q4 2018 Earnings Conference Call Transcript

Feb 08, 2019 • 10:00 am ET


Newpark Resources Inc. (NYSE:NR) Q4 2018 Earnings Conference Call Transcript


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Greetings and welcome to the Newpark Resources Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Ken Dennard, Dennard-Lascar Investor Relations. 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 fourth quarter and full year 2018 results. With me today are Paul Howes, Newpark's President and Chief Executive Officer; Gregg Piontek, Chief Financial Officer; and Matthew Lanigan, President of Mats business. Following my remarks, management will provide a high-level commentary on the financial details of the fourth quarter and outlook before opening the call for Q&A.

Before I turn the call over to management, I have a few housekeeping details to run through. There will be a replay of today's call and it will be available by webcast on the Company's website at There will also be a recorded replay available until February 22, 2019 and that information is included in yesterday's release. Please note that information reported on this call speaks only as of February 8, 2019, and therefore you are advised that time-sensitive information may no longer be accurate as of the time of any replay listening 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 securities laws. These forward-looking statements reflect the current views of Newpark's management. However, various risks, uncertainties and contingencies could cause Newpark's 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.

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

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

Paul L. Howes

Thank you, Ken, and good morning, everyone. Before I cover the specifics of the fourth quarter, I'd like to begin by reflecting on the achievements in the recently completed year starting first with the review of our safety performance. Here at Newpark, employee safety is of critical importance to our leadership team and the companies that we serve. 2018 provided a unique challenge to us as we expanded our North American workforce and integrated the largest acquisition in our Company's history. Although, we saw a modest increase in our total recordable incident rate, which came in at 0.62 for the year, I would, nevertheless, like to thank all of our employees for their unwavering commitment to