EXTN - Earnings call transcript Q3 2020

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Operator

Greetings, and welcome to the Exterran Third Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the presentation. [Operator Instructions] Please note that this conference is being recorded. I will now turn the conference over to our host, Blake Hancock, Vice President of Investor Relations. you. Thank

begin. may You

Blake Hancock

Officer. welcome me Corporation’s and today Way; Chief Officer, and conference Chief quarter call. Andrew Financial Exterran’s Barta, With are David to morning, third Exterran XXXX Executive Good Exterran’s President

expectations could During this conference The These measures operations differ Company’s we earlier press meaning over only website. as may due the of of statements Relations date the future are and management’s for Company’s similar accordance statements filings earnings in about In laws, within Management portion Company of release during actual regarding plans with its factors, now Company’s the securities Regulation in make described the call. results G, and financial I’ll a and business, uncertainties important Exchange issued measures or this the statements in factors located call, Securities future and matters. a Investor these Andrew. the that, considered forward-looking speak reconciliation of several U.S. risk turn and materially the trends of to call. may Company’s presentation the with the this including other Commission. the provides today, non-GAAP refer to With to call the

Andrew Way

and morning, joining Thanks, for Blake, today. good everyone, call the thanks and

over we’re the quarter Dave. what global discuss across seeing developments turn to with highlights, third along our it I’ll before and First, then some wins recent footprint I

continues for revenue, into ability impact to lower. came continued move had continues the was million But challenge on during This far many of saw of is fourth quarter along our cases third with COVID cautiously around a EBITDA updated closely mid-$XX originally optimistic, around ECO as quarter, COVID-XX the logistics slight cost monitoring quarter. potential we structure focus by The line the move are the world. but as customers continuing remain with improved globally SG&A people our driven our the to to from so in which guidance in the guided September, We improvement and world, to we our renewed suppliers. range.

signed $XX Latin America no the million highlight puts the in quarter, renewals region that year, million of an six-year $XXX over the for the This CapEx. continuing our for During we nature incremental mission-critical globally. equipment to requires extension

also During the small were ECO third quarter further fourth in our we awarded the contracts nearly the commercial success. quarter, and in enhancing region, two

new North as seeing in ECO the While slow America. orders outside are pickup we new quarter, slowly a increase and activity tender in product bookings during were interest

enhanced and fourth and not We it’s but several delivering work multi-industry at Water water continue one awarded, to part customers integral only long-term. on large of because not us these our transition require drive projects quarter. growth, an important to during story, get will solutions the least incremental remain our of over is also applications provides to hopeful to projects it demand does environmental medium the that

to While future their our and find this see new normal, and have short-term we plan new see stepped growth started needs. customers this pulls look business continue than year come back beyond the to radar, more as we would’ve the for our the customers onto projects in to liked,

with region. a large East a of have smaller mix Middle our both and related We pipeline projects of strong to majority the

looking term. COVID-XX to the and spending for adjust pandemic certainly dialogue pilots have our customers technology. with to settled a to on imbalance The have and commodity impacted dust additional trials ways more out U.S., ultimately our starting constructive production we and leading in our near cash over to customers’ supply-demand prove further their the As flow, the beginning are many

result in one agreement needs. solutions outcome is longer second color balancing modified. the net backlog of reduction nine on the short-term helping contract these negotiations term of term our challenging The navigate benefit has will to-date to his specific and in them and provide half largely consideration roughly in the Exterran mutually customers we’ve to markets. through our of Over the with the The to with reduction these backlog, $XX resulted this both, impacts uncertainty Dave XXXX, in million A long-term past the on into XXXX numerous conversations had customers more these tied comments. months, and we’ve taking discussions

clearly up America, slow, our pick budgetary of few more all hopeful Looking across are see we our say turn now, but right as be next starting things customers early conversations. in and going to to positive starting And into to but next regions are product a year. year their continue cycles these a will little will opportunities North bookings it’s through we

regional currency focused and enhance had still our to On the also extremely have to margins. region on success. for in help revenue building continue renewals within important and region, of of to our service $XXX opportunities in quarters. see continue AMS extension space We’re geopolitical COVID-XX, Latin top additional and we the more couple between the headwinds, the to small of a months the have far wins, ECO than out challenges so million generate commercial America, the despite of offering and difficulties, we coming all In we

projects region, in on the East continue we Middle the execute to well Turning backlog. to

we a to de-boom with schedules help on Commercially called an additional should travel in has focused have coming years. currently that profitability. move which region, us the set presence large the There countries certain are we in common up the also see years had expanding region, the traction, the drive additional other project in to further to structure and additional for revenue limitations, opportunities are significant it the gain we in well not right. However, where

Overall, our seeing products and by support and that, have For region. processing of enabled our for with of many the industry has And for breakthrough over to now we healthy it turn equipment, continue services. the customers with pipeline challenges, see a team I’ll despite performed opportunities the in constructive Asia our Dave. a dialogue to and are years in successful Exterran Pacific we treatment region, the new service AMS

David Barta

Thanks, Andrew.

the For which on updated September, million, EBITDA with guidance of in in was delivered that quarter, the $XXX line of revenue we million. $XX provided we

see You’ll filed XX-Quarter, which earnings will our press have in and that in fabrication reclassified discontinued into be release compression business we soon, the U.S. now our operations.

numbers. So, been offers business have from are all our this these now to [ph] restated exclude reoccurring

EBITDA year, For margins a about we company than the past greater with talked XX%. have becoming

in As in the the quarter, organization more drive from of of margin also our was EBITDA is function higher the businesses, but This focus productivity. results of margins achievement adjusted mix we XX%. a not just reported this reoccurring

example, out As our XXXX. in million of one almost structure we’ve since taken $XX out SG&A costs

adjusted The margins. XX% We also OpEx have productivity compares that’s to EBITDA reflected in XX% XXXX. of margin had strong for gross QX

at will revenue While quarter. contract fixed some good transformation from variable and and well. costs operations to more possibly quarter sequentially, contract as gross of everyone as mentioned, out adjustment. a ECO for -- $X.XX The I at for to the life activity a contract two partially start-up higher deferred years. have contract volumes deferred been that focused environment by the segment rate And returns-enhancing quarter’s perspective. add, adjustments continue the the receive business reimbursements for adjusted, impact was costs the while XX revenue. the rate was have adjustment appreciation our the the was acceleration XX most a that point the time and which contract years. result our the could extension margin, pressure the of significant $XX Back and to from resulting lower was new as Exiting as of the during was project, we amortize businesses. now and we’re overall past in margin ECO that QX resulted when remind difficult these from be Andrew million, gross will full the Revenue benefited to be end These of what in cash-generating over the the of offset the increased accomplished lower which down billion. from the we’ve had margin on due we volumes, contract term margin may last QX results project was results project, stood next product This in over Revenue in backlog compression cash portfolio. the upfront backlog XX%.

of Pacific For absorption and the activity. rate costs was margin gross Margin $X $XX was sales margin the AMS, of XX%. Latin revenue increased $XX the million, our activity quarter Asia margin in sequentially gross driven was incremental product segment Revenue location. by in and of driven gross Revenue and for resulting increased America. with increase increased region rate million. to million margin activity This was the gross the in due $X.X better international million in revenue by increased in X%. factory was The resulted fixed

to make decisions was continue engineering going we manufacturing and roughly hold $X.X costs We strategic deem quarter. million certain a this for And critical forward. that the drag to

$XX $XXX backlog down $XXX the of quarter. at of million quarter end in the the second at from was million were Our third million, product expenses million quarter. second $XX to the sales the end compared SG&A

the to Moving the Net million. debt sheet. third the was quarter end of balance at $XXX

our have maturities. our at you ratio of is And end near-term in XXXX. revolver Our remind is the next also times times second X to compares the leverage I'll and we maturity X.X quarter. that no

Turning briefly quarter. to the fourth

EBITDA expect We range. the high million in be to adjusted $XX

and We earnings in the cash deck. have for included presentation guidance taxes CapEx

and environment, also great the deal a remains there While of into business well the we process. in are XXXX planning variability uncertainty

position This today backlogs, the efficiencies that remain his and and XX% XXXX over ECO north EBITDA While remarks. be guidance, I'll that of for with to strong will driven Andrew the back by that, the we well. are to we're the achieved quantitative margins from with year. level. provide XXXX And a in turn will productivity along the call EBITDA as we've closing not in past product improve will confident

Andrew Way

Dave. Thanks,

a As we and and driven to we execution, backlog to look year productivity continue beyond year the additional next be growth controls. by XXXX year, see cost into

business, in building our water are strongly and product our and new additional We product our total enhance to on services development focused expanding enable aftermarket growing help offering. momentum

swiftly, control we We doing will adjust have capable if needed, years. quickly as we of couple shown, control we'll and over past the we what are can of and

protecting to of managing means in the focus business leads years. invest to cash balance our core this us on to our in of protect while our allowing which business, flow the sheet coming the to the All continue

this we drive better compression improved returns As XXXX our the backlog, over laid I from near will portfolio for the will transformation. out focus divestiture, of be of the complete and of term. long leg medium The margins our areas largely completion the enhanced cleanup of to

in see And we backlog Our provides I'll coming Thank you. us years the into XXXX the gives and opportunities now to strong back heading to with the call the come. for XX visibility that, months the operator. confidence turn

Operator

from [Operator May Instructions] One Kyle Capital Our with Securities. question comes first

Kyle May

I have Hi. to two, America Latin a One, can Good in get you compares the how two-part contract some the then, the rate question any morning. in business adjustments contract about terms? color to mentioned about previous and And increase started. you activity. renewal give us had operations in

give any can how the you should changes details if us we wonder that? there about and be around more thinking Just

Andrew Way

Good morning, Yes. Kyle.

with the year-to-date. that renewal the the during consistent quarter pretty of all, had renewals we've we that was First saw

few fair the teams in contracts, a last regions to a our outlook. quarters, ECO. And you can of work see no enhance the of commercial terms margins In our current in changes by productivity those we've and lot great to seen our done of see to amount in as we of the continue terms

and to. very very, So, the see contract we that pertains renegotiations it contract don't a to successful were any you referred particular go-forward, changes really that as on

just are we in particular type they're of more very other for just throughout just just terms and customers industry, challenges been year. of say specifically through industry a ourselves but timeframe, lot referred not it's we overall I'd And if have had clear, In the negotiations, ECO, of a that asking this March-April to way, hydrocarbons see of whole the some to generally from you really but and of producing early multitude the from if that contract maybe the on that not also construction to could work dry through can gas, there of of change could up with produce productive we we different produce facility with opportunities output in either them order the liquids. a less come a profile maybe ways their more in

to certainly that the the Dave had did can the discussions one And more contract. with so, And had we've issues that that that I've that changed some were able we're one that lot working We had a of almost a months, of offload those contract throughout. pertains little discussions. they past of through in that capabilities negotiate to specific And throughout were the taken but term give mentioned has who call, gas. bit as complete six we their we have contract some color, it and you

able right we're to scope come solution really parties. both in order both with the up the so, And term the and renegotiate to for

have Middle during I'd few good for outcome and the say strong difficult months, Latin certainly, around outcome prepared world, maybe Africa some remarks very to moved also and hard able to a that to very with overall, the be to customers. help are our sure are in worked still projects East and customers, that America So, negotiate the make been in contracts, for We've our Exterran our and both teams customers navigate right. try a it last and slightly product referred the times of And I the adequately. that really in real contracts that flowing my during the to work to

teams solutions provide with to real-time lot have to embraced engineering more Our be able technology a customers.

to where a offices you with pace able had have we've be keep we've to in do, of together. people all the required that deliverables past, had lot to So, the engineering will whereas activity in been we've

into a just navigated. quarter outcome lot lot changes, of And, the into good going feel we very a at that we've So, successfully the and overall fourth of challenges XXXX.

Kyle May

it. Got

appreciate thoughts how on any can color preliminary ahead, think XXXX. uncertainty framing any thoughts or maybe you I wonder on for my around but question, there's realize of That's if we Dave, initial very thoughts of us next next still then, a I And year, -- the lot And should helpful. CapEx? Okay. just about goal and up additional posts give

David Barta

Yes.

Obviously, of a think, and settled right are COVID project coming had getting heavily on hope we the And And impacts -- there's know, months. projects. I quarter. that in our dependent soon the you're think, we said those we of being first on it site. we one, that as lot the said, Andrew you that I as that again, exactly variables now announced right, some through in it's people working are things big

COVID is obviously, a So challenge.

margins and we'll revenue So EBITDA. we'll you clarity more hopefully, get give more around guidance and

final between on for very involved investing. we our on project guidance of next projects at out mentioned those capital that final there are our start we're and on we're you any that that I opportunities that's can being, quality little investments. capital projects may of attractive a are depend will investing opportunities, so, to very capital, we've capital see our some year. are in And the capital think, it now terms high awarded. again, in, And in some down how that from or and come view water standpoint, year. working whether as this have imagine, type I that's about thoughtful We're think next focused of committed And point, we

Kyle May

it. believe for us compression mentioned the more you I you update one of and for the business. close on give nearing U.S. And, that of of you're the timing maybe an Okay, that exit me. fabrication use got proceeds? Can

David Barta

Sure.

in the Kyle, speak, actually, pleased closing months middle So during with relationship that Compass. as working this say today. had we're few we've past we're to a And we great transaction of the

in this closed. business So, The will by evening, be manufacturing owner close complete, of and Compass Exterran's be compression America. the of be transaction of proud the the business the end business North will here will

as hands forward as Compass, great certainly needs. to play over of that's months, their it by today, and in with transitioning we're But the today. will we support look so, on, and the day working the is today here we next moved be will happened team speak. hoping And to the planned and the of with timing in We're pure it's end And of be them it, that that that, middle it close. we couple

Kyle May

okay. one on that back. it getting done. I’ll Got Congratulations And, it, turn

Operator

with Our next Northland Doug question from comes Becker Markets. Capital

Doug Becker

is to of color mentioned from the Would just awarded those water expected East this hurdles services And you by Andrew, or around be any contracts getting the for be services across finish the equipment? still Middle one line? year-end. remaining

Andrew Way

our customers a the to a still number we're We pipeline contracts with Good brings of with stalled, that have is there and our of negotiating. their it were coming that Yes. water strong. the face-to-face I for actually that decision-makers number contract negotiations say our with of The morning. timeframe, business mainly during because that get challenges ability currently our together would customers. summer

still wouldn't a stumbling hurdles I are or contracts number that's there of its through. blocks. working any there's So, say way

you profile As profile actually always, work to actual to these of making and contracts, in got that the technical upfront lot of need what of you've get right on the some do sure a water needs done.

spring, really here, out that evaluation weeks, come of we're couple projects took of will all both in quarter one technical through. in fourth next of They're during equipment So, of place early that the I really that certainly services. the hope and few summer. late negotiating the the

And basis. services on so, that of and would that it's be a provide combination a we long-term equipment would

that And communicating happen. look as you so, and it all forward let very as will to does, hopeful that, soon we And we're here know.

Doug Becker

on, cash flow that and on color thoughts quarter say what the about really net still debt that to but just fair increased I'll debt give maybe free project going to expecting. as flow call fourth appreciate is it -- Dave, follow unforeseen you're quarter? cash capital, East free a little is more or Perfect. Middle a cash you working year. I be fourth thinking is Can little year? use think up we in the increased flow it bit positive was than next bit to more little next free the barring something for I a of flow that And a maybe still just cash

David Barta

Yes.

up from wrapping year, compression obviously, this the pay and we'll business, on So, revolver. down that and question, take asked proceeds Kyle sale of the had the the

the projects will to again, we're we continue operating This mean going available not we're do is where where and how other you structures interest opportunity, then Middle increase lines. type interest think a also payment at was a as that. of different on projects for dependent being about fourth due And concerned the we have that substantially focused have investment move certainly that third in -- drove as some I our say cash major the about And, We to what at point thoughtful of in a challenges on in the we're And the East that significant if debt where forward. also we're however, forward, way. at we I revolver flow also, lots of committed upon to of just amount in in those would there. and quarter of And quarter, well. decisions capital ways a from completing be couple the having we're to I projects year, are in and capital have, awards few make call, the I we're the of And growth it some fund up. be We have would for we're ways much kind these of the can in these we next initially of we the And projects, capital go. successful I'll use process focused as don't earlier, there's said wrapping terms this then the projects. growth project what the traditionally, of residual and a look point. some at more like

We've substantial comes had of upfront where customers. to projects from Some down had reimbursements we've negotiations. it customer

where taking -- prudent of solve next keeping the advantage accomplishing for are but to with being Again, balance also can of balance of this. lots and about be we kind of prudent there's help looking them these as year. at as around that haven't a thoughtful customers So, opportunities us, both, sheet, get And sheet, for to we but opportunities see and we taking creative also us advantage problem. ways a it's finalized high-return

profile of got hybrid award start, from frankly -- as project, quarter, the is it's we first out it on come it. the a project. of It's and depends kind it's some product project it's the in that be product sale. a determining where year, Middle And predominantly our said some that we in that East to next for schedule -- sales got critical And AMS of cash will

a It we're got So therefore, continuing uncertainties real kind XXX% major which procuring you terms almost of start and early on the use a question much. through. more how what's through depend on, work it's that. to caused that equipment forward, And on is If of It's that. it. start as the go and the -- And year. COVID-related for is at working too get will we capital And of to to just just in provide But to project civil to side to depend again, too capital said. a site element when we're spending working of continuing much there. will color this that schedule, working starts the the work point, it's the that’s really going again, Andrew next

growth small as number. committed fairly the year, is a next So, I CapEx said,

way, will with the particular use being capital you COVID-related well have there information the purposes. and will again, on this for or working prepayments together give And project. two on come But resolved. modeling those are to schedule kind this issues in customer, to a as payments will and for us some depend working We progress the the then, have of capital planning

Doug Becker

in, looking can it that. statement? be a that to fair fair cash Is you'll some we pretty appreciate free positive, that that flow were say high-return Is borrowing obviously investments appreciate. I outside

David Barta

and over large a as project big pointing $XXX is It's keep the top said. project, we million Again, back this I to It -- projects. line.

suggest normal considerations would as just investment. substantial capital so, And a working fairly capital working

all go can to of that I'm the see so, kind yet not far we going pieces. And until

project capital finalize a kind to to up. we've through that this and and kind just There plan specific. get but plan, can But particular progress the customer again, need final of of we is before of component schedule, schedule work work there, a little if you and only into heads will. And through payments our not real a how the the a working on work so, got spending to get we

Doug Becker

Sure. just And the on one last one then, guidance.

I think, was terms it the XXs for upper for in quarter. fourth of EBITDA

variables Just we be an just out for any keeping business? eye particular should for the

David Barta

No. business. I normal would say, it's

in been lead it seen helped As as all prepared of certain zone. some that of kind AMS. into a It's been similar when we've of said forward to but easier of But, comments, steps some on forward, say, than minuses step the that there, able these to tried we've pluses countries the get certainly some anticipate That's working it get I certainly we've two kind that usual the all of COVID. had. can think blended regions steps for on. three part, kind we and We've back, most to that variables to back comes the helped projects us and and in point. would we've we There's to to people

Operator

comes [Operator Capital. Monachello Instructions] with Next question AltaCorp Tim from

Tim Monachello

everyone. Hey. Good morning,

CapEx rolling of and But, excluding where for are XXXX, coming contracts next renewals projects, Just a excluding I'm see in at already. be sustaining needed knowing looked that we've understanding I sign of a little CapEx XXXX guess, year, your couple what do where growth? questions. might to bit kind you growth just

David Barta

Yes.

deviate from sustaining, there's of going other -- we've to to us in been kind I kind growth. think, the significantly that to that's cause in than nothing of on $XX million million past $XX a

renewals. CapEx that anything includes we the things, or of Corporate have of So, small tied IT, a include to some would kind do maintenance

I So, see that changing. absolutely don't

state can firmly as we others, and think, between $XX million million it. and maintenance for I we $XX call

fast I a pretty think, that's number. hard and

a big but plan. the range, Now, fine-tune it's that we'll with pretty

piece, very we've be think, with what consistent traditionally that I So, should seen.

Tim Monachello

Okay.

you'd be cash free fair in and XXXX? investment positive working So, a before assumption, growth capital

David Barta

Yes.

not mean, of about two this. an I thinking it. when that's a of we're as volume unwinds -- we're way. think, of that's business we're fair capital distributor, a I not Yes, kind seller. -- a tremendous We're not way it's because definitely angles fair not a working a amount type item declines, to that

a lot volumes inventory tied have ECO a supporting our and also a either. in AMS start more to investment our our means So, tremendous of But returning, projects working capital supporting and we business. when again, normal is it course, don't

really does, as is going is down we're as also protecting need investment be to the can balance have going we're opportunities always to, it, to it balanced prudent which again, as be making to terms the those So, to come it and as versus and the projects, to trying ability that we we in rattle we in of sheet.

Tim Monachello

Got it.

up what that are $XX QX -- might what from got sort In previously. think terms high which we presentation, progression think takes and preliminary of about the there? it? on of or better the of project, it EBITDA, or just based where Eastern is a sort the high we the sorry, of it influence you the had provided says was expect how think should I the to end Middle the end, guidance, high-XXs sort high range if higher it Curious, -- million you gives in the is of in What should or really middle the that? And of

David Barta

Yes.

come about our I to ago, it. developing to with our scenario, again, kind -- we've of guidance, on talked too try think every up and this of blended I case many as a we scenarios we about go and maybe expected of about think couple try how think think we it's about quarters

us. second COVID I and what and the affect So, impacts that think we're anticipating that how wave could of more environment, business of could thinking through normal mean

wouldn't which in particularly the I worried think, about, months. been it's normal a there's last anything environment, XX-plus pretty balanced certainly view. is than business we're I say, that other And just the challenged

good it's end a same and pretty but we fairly we similar up that some opportunities I that in spot. some that, about or kind that feel and there's So, of think view still balanced puts takes in

Tim Monachello

Okay. Got it.

you'd...? project that So, would shifted then that Eastern XXXX of some Middle into

David Barta

Yes.

a was said, large very we as project, that So project.

this So, type two the a long schedule. mean, was initial project. I years schedule is

we've to all seen the definitely and we're the have we And so, as project Andrew completing lot schedule. for right. deliverables the and slide our successful, initial of engineering of a the said, And been sourcing

that's get basically critical able start difficult. think, that the preparation. us and the that's what's the customer to and And be site I doing site civil work, for part so to to is been

And schedule so, caused to that's the move.

recognizing forward schedules what year. anticipated, there's this It's project XXXX, initial have will for less project and actually into that than we would initially revenue XXXX point. are the So, into go that that we'll this given at slipped if this we -- see

Tim Monachello

it. Earlier last then, stimulus October, saw me. in Got Okay. we come one with Argentina gas government out a for the And program.

attract even couple $X over on seeing years hoping next sort about You're to as from early impact the fringes invest of to horizon in you any Are just of positive stages? guys gas on program production. that it's the or increased billion the

David Barta

say, initially, were we there's comments billions was renewed interest. a flow. slower Argentina of Yes. slow. been early of going been about of the been would There lot are on I seeing [indiscernible] And would people much to But, very dollars in that's excitement have think, than, thought. lot I it's that discovery. a as the And

a I think, for investments. to good good there's and be, The those bad capital certainly of make to the news challenge There's is an The people opportunity is going in-country news. kind it's available there. need. is

us good cautiously financed? the is, -- around largest to and there we look it's opportunity we as question just potentially the and you've very around how concerns said move in the there's So, and see it public carefully, NOC environment there, a enhanced terms think that one big I some potentially the need that opportunity invest. but deals, risk And think, that at has for currency we so equipment, to of it, enhanced of they a devaluation, it's customers and and got ECO forth. certainly credit given one concerns is and

-- do long. have that the renewals we we've -- got we time. been so So, we've there think all always We've for happening got there

confident those of -- the in that had future and big renewal. there are contracts, the got projects renewing conversations us year, opportunities getting coming we of mentioned think we particulars I more because those. not be we're materialize through that more this are that in come we And, will for up down in. involved make earlier or some As whether there with customers be XXXX sense a and having there'll with We've things things to are can to frankly that those are initial as and to things in

Tim Monachello

the capital glad in risk in pointed in as past you has them inherent and I'm changed. you and of years Argentina profile that obviously, how about -- most operating the risk out think investment So, you And today? guys of Argentina sort that

you investments view about has projects So, the on guess, returns new think do how or those I Argentina and/or forward? I capital thresholds changed, structure, from contract guess going in

David Barta

have there, competencies, that quite years does projects. there. has country. forward, cause I base over to customers the would company. and relationships, a It have in in management mean have success and core probably have certainly, we emerging And say customers. thoughtful environment be we Yes. phenomenal it had certainly we the our put have we customers the -- I so does just But, would think, think in very really investment at we Argentina we've the there, these kind with And I added going least team I nothing a new changed. perspective. of about rival you good But, any there enjoyed phenomenal from risk

to standpoint we're this us. to and think again, to it's continue us, certainly going and And financial we'll success. great mutual only leverage a asset try and from there people but makes customers in work understanding their move to and needs we're a history needs, and sense and for as So, a standpoint, with way their but we've we'll we actively got leverage, I more our And contracting operational forward. some working that a not for processes other there that have successes

needs an customers So, call able around of forward. both increase to it we're end, in be move make it things. to sense definitely to for seeing the dialogue in, us the But with

Operator

time. questions I'll turn no further back management closing are to this There for at it remarks.

Andrew Way

Okay.

at everyone have we also all our for allowing that really thanking to you an give fourth safe. difficult that of you some employees globally. like all of everything thank through of be And to pretty And finish forward situations months look the last to for few end we us in are. above updating beyond quarter. update working where So, by the dialing the Thanks and today gone I'd doing. and Thanks. you you're Bye-bye.

Operator

Thank day. you. parties may This disconnect. Have concludes today's good conference. All a

Exterran (EXTN) 2 Nov 202020 Q3 Earnings call transcript