Q3 2024 Newpark Resources Inc Earnings Call Transcript

Nov 08, 2024 / 02:30PM GMT
Operator

Please note that the information disclosed on today's call is current as of November 8, 2024. At the conclusion of our prepared remarks, we will open the line for questions.

And with that, I'd like to turn the call over to our President and CEO, Matthew Lanigan.

Matthew Lanigan - Newpark Resources Inc - President, Chief Executive Officer, Director

Thanks, Greg, and welcome to everyone joining us on today's call. I'll begin with an overview of our third quarter performance, followed by an outlook for our fourth quarter and an update on our strategic priorities entering 2025.

The third quarter came in below our expectations as 2 notable factors combined to impact our results after a very strong second quarter. While third quarter generally tends to be a seasonally slower period of the year for our business, this year was more pronounced as a few key customers shifted their priorities during the quarter from scheduled transmission projects to renewable generation-related projects.

This, combined with unusually dry weather conditions in

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