EXTN - Earnings call transcript Q2 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings and welcome to Exterran Corporation Second Quarter 2021 Earnings Call. [Operator Instructions] I would now like to turn this conference over to your host, Mr. Blake Hancock, Vice President, Investor Relation for Exterran Corporation. Thank you.

You may begin.

Blake Hancock

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

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

Andrew Way

second continues when Exterran execution safety, good on XXXX. quarter pipeline grow. the in compared and Overall, in that to of second commercial on backlog company on to capitalize as up the our Thanks, quarter EBITDA an expectations a adjusted over with to Blake as and focused robust performed our global quarter came basis, line operational well XX% remain morning, of everyone. we strong the employee efficiency, positioning the

spoke, potential of be of operating to parts environment to starting the to the dynamic. virus, the to we appears working be continues to latest traveled Having vaccine are last impact since severity COVID-XX world variants of challenges. the different lower the the the While create

logistical to quarter. get equipment, facilities in challenges to We and some important people third the are beginning see and sites

supply of second global risk continues be given mitigate the these to the to year. of most chain, We present half the and this challenges our in continue greatest see provides COVID we

continues topic checkpoints others we us. inflation. to and inflation investors distinct of commercial I can the that earnings with been Another impact last come around would areas say where have has up three since

first are revenue annual typically to escalation operational that being The there increase projects we generate allowing for and and clauses inflation. have rates us

construction. second under The would be area project

leverage to help supply minimize offset we Here our chain costs. inflation and global

as continues opportunities we our continue costs over customers the demand project both and and monitor over Latin strongly gas are these X.X drive months, biggest inflation projects. margin also the to We inflation the customers see Middle And to well Commercially, adjustment also but the bid we've material on our continue and with feel we in bulk us continue have control in billion to impacts over impact in award The we our further projects passing afforded time America natural any have seen gas globally validity The between with several water to an reduce seeing our on minimize lastly, globally. I and to are East products. made Asia would is ability water our or discussions us to incremental CapEx have our to allow changes of not but bid work we through phase. in opportunities, Pacific. to Overall, and material the our the past on minimize to bid to say better the costs. here

any material XXX to second the additional There in and can that are without region have add in quarter to renewals needs. constructive year. in contracts over also million over signed We Latin We CapEx renewals conversation or new meaningfully on America. XX the in opportunities the views continue million past our backlog in

the On in work front, eco our we make accounted would to and this meaningfully add the has eco-project more the to to future. year. eco-backlog, of This nearly at water backlog XX% one least potential towards incremental continue water for

at to outside build originated we off be see we applications other petroleum look beginning also and to of book mining, our look to begin few. what industries, into our And oil just water set we of many technology, municipal where branching this in opportunity and business, sectors out across will to including a name continue As continue waste as gas. at technology to we're technology needed

value financial our We enhanced is that confident and that compelling creation. drive will performance are water business growth poised for

the has over commercially little past and operationally, changed. Looking quarter,

both progress cover opportunities. We will should the the that about that that, turn now Dave. And on accelerate and our process review capital drive is continue it new will help win transformation over and transition continue only the for to to to company. structure ability with They excited well push fronts are and to and I underway

David Barta

Andrew. thanks right, All

for deferred segment primarily in of end at the adjusted XX%. of of rate million, segment operations on quarter and margins of operating our in rate XX% gross in of Since XXXX. we perspective, $XXX acceleration U.S. $XX which million approximately increased EBITDA reported a we efficiencies. with the a to to results exceeded margin a the revenue line This flat EBITDA while and revenue QX backlog due of improvement resulting QX, $X.X contract the margin Eco productivity fabrication was gross in guidance. significant as XX% stood adjusted the have EBITDA better the the our delivered compression $XX have For $XX margin quarter XX%. Revenue was From is business, of closed sale an million million revenue billion. sequentially to

seasonality in margin the was $XX margin a challenges prior million. was of rate flat Revenue impacting project. Adjusted Revenue the ramp the East under due million margin gross was and margins AMS gross For million the quarter segment higher to Middle million, was while of adjusted as first XX% our abated COVID Revenue X $X adjusted revenue product was X%. gross resulted in adjusted flat. gross XX%. sales absorption. This $XX margin sequentially gross declined gross continuing was of with rate margin of sequentially and segment increased in resulting quarter

sales million compared second product the first $XXX backlog quarter, Our of of end $XXX the quarter. end to at at was the million the

sheet to our at total the debt Moving end quarter the balance of the million. $XXX was

debt While $XXX our net was million.

the ratio to comparison X.X improved leverage Our times at X.X times in first of quarter. the end

as the capacity total of was the Our quarter. million available at $XXX end

the over million the $XX available range. Our we to high respect the grew With adjusted in by third expect from prior quarter. be to million EBITDA mid $XX to quarter, capacity

region, meaningful increase half in drive the a continued the expect product which will sales revenue. We progress second in key East on projects Middle

Clearly in For guidance of the QX we million execution suggests our EBITDA to current of EBITDA ramp in pace expect has is be a outlook the year, view the remained project $XXX East. $XXX which driven our as million. between the and expected unchanged, by Middle this adjusted

earlier, is a forecasted with the be As guidance. reimbursable Maintenance customers an second year between phenomenal execute issues expected $XX CapEx million. operating various of suppliers COVID said to job million. present ongoing XX different us impact unfolds employees, year $XXX will prepare hurdles. as continue our hold the remains in That Andrew CapEx million around million mentioned million and the the the and for and XXXX be will $XXX done well $XX and ability SG&A from between our to pandemic How to have CapEx actions appropriate million. taking still as anticipating approximately $XX for other possible. and is challenge. They should to to half dictate the

remind I we're you Lastly, minutes undertaken a discuss want capital of to to review I this is being opportunities take ongoing advantage take liquidity enhance continue the our review. tracking. of few pipeline will to to the structure to

longer I'll didn't financial that On over blends call additional as the both us conversations term to to the very This timeframe. operational burdens term, define and with developing a his potential projects short we set had for the call over several we best longer with And in we that, path term. With with good balance ECO turn remarks. effort the to made They've structure forward allow have productive QX regard some our the a back the secure the on in variables closing without sheet. CapEx partners. Andrew progress

Andrew Way

Dave. Thanks,

amplify several to the we quarters forward quarters and Exterran see opportunity our stage Project in and journey to solution. to the execution back market including outlook. our the and opportunities turn that about Exterran cost things and excited proven to integrated is I and call convert provide. to to remains next a the I'm into products on near organization key growth given the orders water, our and look to control and our to that and the both success structure, leading look to customer to in ahead gas set focus further over three following transformational market relationships, into I we space set natural commercially the over start value we of this come now intend the on tremendous will to year its with lie will We years. can our the leadership services, continue very the the for that, And the fully continue operator. opportunity state and the term with see

Operator

Please of session. time, proceed Capital question this Kyle your At Our you. answer lines Instructions] question and from be with [Operator a conducting first Thank One. question. we'll with comes May

Kyle May

right, morning, All everyone. good

Andrew Way

Kyle. morning good Hey

Kyle May

more as guidance, of look year? a momentum maybe we look quarter. for Dave, growth your third half mentioned in and the the you at with results you fourth then talk quarter at first and driving starting into year ramp the Maybe initial that how the the carries that Can next what's about big

Andrew Way

Yes.

guidance assumption what's maybe you not improving tell some first So on is really global dramatically. markets the in I'll

of every amount we've frankly, large, we continue see to you think day. shared to is I seems and grow as pipeline tremendous opportunity the

do into I in a on. But assumed the run. the function actionable lot are orders it's we there's of a short haven't we guidance, have. those what's what think and is, that its backlog driving really we turn So going the have that news in better But

book the ship for, but on that have projects Middle and although it's project certain in there we environment dependent best continue based view with in some this the really, are certainly cautious driving MSI make and And So our backlog we're what's are it's so of head the variants that. forth COVID significant and to their we the and assumptions schedule. highly have, raise certainly you going East a of that part

obviously, really they other what's starting and to hold So is a that some base well long project really it finishing underway. that That's projects take as we have ramp up. COVID as delays is don't after, driving

Kyle May

ongoing. any color the thoughts review any can That's around appreciate strategic But so it. share what far? just process I wondering learned is still structure your that maybe helpful. from Got capital if you you've And

Andrew Way

Yes.

is something we've said, take from ourselves This advantage start. think to see. we I to that the the a about positioning opportunities comments strong couple of is really start, of pipeline

we we're guidance out in a So CapEx the side And of kind in that reason offensive And if operational of it's balance are a really therefore have be do requirements, capital you Middle assumed not I couple of really have a is, we've the project why And very projects of couple will. things in East. and and predominantly by of as anything. working proactive laid we're the next driven of topics, looking move, go just we to as well. that we've some sheet also rush large on think working thoughtful, we're kind for trying to both financial years, there's the terms but part which always the is this

operationally, on that it. but side forecast ideally, the financial obviously math the we of make So could improvements, change

something. would operational calculation prefer kind of I kind to working than much into in environment in if changes that hand, have the improvements of solutions are hand change to financial that those there rush to you So would or somewhat will

you So I and can a with in and are it's get a difficult the things be as of environment logistical goal of tremendous and facing. line, shared, the But very dialogue customers. with amount they to just of a it really work this to hand imagine environment in of just kind opportunities, tremendous amount hand on lot to challenges given customers going uncertainties seems

Kyle May

I appreciate back. turn And that. a it. Got Everybody I'll it day. have good

Operator

Thank you.

line I'm is from Northland with comes proceed Please your sorry. line Our Becker question. Mr. your question Capital. Doug with Becker, live. next of

from of comes line your Please Samantha with ISI. with proceed question next question. Evercore Hoh Our the

Samantha Hoh

it's back Is just it's second Hi, stay the like quarter. low topic. noticed on to mean, guided I on that $X CapEx bit just loaded a down also, a the then here range have came end there some to guys, just seems started it for maybe came I for very CapEx? million in you little little and back

David Barta

But the ECO that's relates we it some now. we and kind mean, and topic of fluid. that signed his for to Andrew shared this comments get just I to and again, we've operationally project year project about in same we number of mentioned that one CapEx. been been Yes. a always the quarters it's talking of hope

So that had originally bit little our starting forecasts we in a earlier.

timing So related. it's more

Samantha Hoh

And time guys was but natural focus only have to the I on lot power about and the I of if just know gas exposed be grids? power in we guys a water side, might increase you business, that spent specifically any the infrastructure spinning bill, an on and wondering how you comments the

Andrew Way

of us. momentum don't there Yes. for I think a there's probably initially, lot

infrastructure gas would I in U.S. think build that welcome. obviously the the we something would natural of would further anything be incentivize out

think obviously, solution. we sense to In as perspective. part going it gas variety from have fact strongly, natural a in much neutral just makes believe worldwide believe that of I is ultimately, of we carbon too very situation It

see So the we're runway very what and then bullish on in there. we water to on addition, long very that side. think And is there natural a gas

Samantha Hoh

pretty you is like be And it or a it the driver break go business, of you Earlier main like actually waterside. the just more the sort if like I into water bigger uses three was then Is area all could That'd the little growth? integrated an on maybe beneficiaries? business of can extensive interesting. could in out do if being deck within is it that project, of of more, do like wondering had treatment? driver guess think the Like, see is guys Or primary water if bit you business? be you some which technologies, we the will you separation, different I kind sides AWS, of delve of, the really on maybe which had

David Barta

Yes.

Andrew to, we deal treatment. off and this I had anything we've want have, think he technology the might shared as wastewater out I'll start and the technology started in

can water with asked then are, sample dealing sends us applications and our the And with oftentimes of where the solution. start situations us that broad. be up to So they're a off quite with we engineer truly customer the come

And of think very years as technology, more it's even to of a new patented technology in additional around technologies that So shared, to we see the you'll using and in putting effort flexible bringing have lot and we're we've technology. terms the the we're I marketplace. quarters come,

a energy can and number I today an So think be problem we've on water there industries, it's anywhere one, I focused the this last potential other tech being where examples, being beyond other But of industrial someone again, is another applied. wastewater for has years. been think, where

Samantha Hoh

Thank you.

Operator

Thank you.

Please Tim comes Our of Monachello next with proceed question the question. with Capital. your ATB from line

Tim Monachello

Hi, good morning, everyone.

Andrew Way

Morning.

Tim Monachello

execution regions Delta in towards. across I project or variant. that's curious your slowdown starting first to is how project understand, see My impacted question around just I'm being if you're to any just guess,

Andrew Way

Tim. Hi

no the the countries, COVID Texas, different on West regions think first say, within some I apply saw I where based the versus we say, Coast, East no little peak. what a the here the to similar different Delta different globally. has different, would implications variant a lot on governments, Coast we're of at seems really every we're even of would I from perspective live countries, generally the is based you or U.S., to whether material state seeing, lot operationally, all, their or in that different So A of that

just or what is think to produce only of perspective execute a point Exterran build can our so needs to have some you that from effectively to operations time engineer, What locations and manufacture, not ship. to an seeing to Exterran what move and internally we challenges seeing and our an point customers. employees at to are start done. we're in together we're is increase up get things and COVID suddenly light Then and that seeing just and site. is capabilities view, absolute, brings There on projects caught we where in have execute seeing is bring much and Exterran dramatic I for today globally of the

what would should in our certain were we're componentry resolving we've that in open, that lanes and a personnel are indication certain that that backup, our I small certain needing seeing needs the to that problem. skids, both starting logistics that's there relevant countries requiring So we're conditions. to a And show to we're Dubai, that there shipped where shipping into that just certain make are sure there require some physical customers provisions today infrastructure certain are is manufacturing cases that got be countries, in say be

a now. So globally we'll in provide becoming some these the peak, subject hot locations, at norm working. And topic Tim, where of that the vaccination locations XXXX new is have a certain having you're to people right is of at

While people they're supervising. that contractors or were

just sure environment in in challenges. is an has that's way done a and safe logistics capable that of So the making its

no COVID And many about this, one projects bid wrote were so how when these contracts to and into manage and won of thought originally.

to prevention as for rectify where we doubling job So down sure are to work pivot. we adjust. and a something it fast cases safely to and good eye believe can. is as that And blip, on we've how is, we're and that We're an we on make we an the far. we we back news having keep making see I we so our where can in and that intensity But do sure done exceptional having do get

countries clearly It's a different concern, seeing of that we're obviously little managing Latin concerns. by right a And we're parts a now bit of it East, you Middle gives some daily. of seeing It of we're some the country. America, in kind in differs So more scale.

So internally do start starting see operating more we continuing the is to haven't it of our it, locations intense the we're managing but when COVID. a little see. changed really since we And just rhythms job bit a to wonderful in teams certain becoming

Tim Monachello

as Eastern specifically the large Middle speak progressing you expected? to Is Can that project?

Andrew Way

progressing. is project The Yes.

preparedness Houston. In work that's been week have engineering fact, East into location as a work, ground topic, we and already significant with we the teams progressing we working head we project on well the the with the of that got as A to upfront Middle Site from on underway. The customer that's working and about documented next aspects is ready and on that complete. has in in amount we're where line the we're speak on handover of talked process with speak as we of that. lot anticipated. the what We've manufacturing

right feel critically of that everything say the so is that on I clearly earlier eye country us are we do. we gave today. the adjust. And now, topic with where we on controlling. that feel important and if we good an But into time the keeping make on are organization. And built an are situation with a sure important spend feel today where to I'd today. But clearly good we're we that It's we it's That's good can as we lot with to we internally. to a where guidance what very we critically that are project. crops It have we But up, something we

Tim Monachello

Next question.

see quarter, the were treating life North bookings as American North second in of, and you starting in move quarter, guess, signs into processing fairly obviously, third still depressed bookings? on American of terms to bookings, I are the you Just

Andrew Way

I the some margins. the I'd of course, I as yes. traditionally some we been There in the of we've a as There simply in. said, we bookings compression was in of the And supplied have quarter, that seen didn't say, were is result would And answer opportunities we've that So industry, our you've that, that as Exterran. certainly wheelhouse what in second mean, seen, would what we company the made think participate increase happen.

had for we're can that's done of What the we sure the now aligned place. the companies bookings. is chasing the on that sake what with of not infrastructure bookings we in So get making focused strategy

many with customers we and plants So that successfully we've been working have are operating previously today. shipped hard

better as certainly pipeline So you better the America today, good, base where and a to today. debate we own have, And and I the months locations. I ago. activity, better U.S. Tim, say did we ago, a bottlenecks feel of frankly to be large as than know, than and the install six did feel certainly capacity their good regions today We additional seeing facilities whether and we've to North need combination where are certain feel who in it year got gas across bid capacity I of certainly customers through and feel relates a moved working processing internal

X to And more X discussions X would where I some in of would maybe train site play. were train way and train out for Brownfield or some original looking they successful the are Greenfield talks locations, say to build a X we on train So a and are there a for Brownfield in And the in on where many have we role cases. cases.

delays, in North combination, But good these go internally lot cases, international is entities we've our us seen for of pipeline is our we of question what just I'd question lot activity of time in certain a U.S. the building nicely. all which mapping pipeline. a goal about A comfortable feel you're we're that internationally leading get that before. the large America, go many negotiated not is really dealing build of some becomes projects with of of on the A small the pipeline were And we're to project So are these little the based we've continuing describe spent is of in of go. NOC can built is of is projects. goal, component comes and always we the very a public. because on lot how as a function companies the facilities the lately where when going an and [Indiscernible] we our say a negotiating in spend question first, we we cases, The an indicators gap. talking as go. on this time Because work. aspects the of the on the different the And to lot the that organization, we easier either always We with fact

on pick bit And aspects so lot pull on see, past. up there publicly somewhat of we're permanent of we that to But the hesitant you various little I and level various some the data in can to a we think still indications earnings available their saw that's is information. a a that for and don't time. in seeing back that get of going to come back again,

I relevant that of a And opportunity it's sure all, means best think gas locations that making customers is the provide reconciliation may whatever in the that first of the somewhat the there's use where the can for how flowing of of they where and equipment be. have gas; moving.

just better of key the kind North one highlighted bit question. seen starts But equally it's take North America, that of up with a a winded are about in where in side. we've us with and trading and level the for indications But significantly past like processing that we're little request the of markets So on is as for quote, important the for activity a activity not that feel off would a request that or certainly is away which from that and seeing we to America, starts point always bid today international I answer it's long I important. you to the off

In an the in time future story. projects will in of I past quarter the hopefully water into on future we with lot And say of our news and spent markets. have customers the some you it's I'd the side certain and share have critical to key technology how itself that equal on that, few proving with a next working success months some manifest plans. On we'll

we in converting. we so in the critical commercially, where we half that's us. front need that focus good second And the pipeline have And feel the for clearly of are start

Tim Monachello

business of in fair has sort US maybe the exit you that the the the say later a would up made I in compression cycle that's comment participant of cycle. a

bookings of In terms activity.

You think that's fair?

Andrew Way

life see I get compression it's yes, initially, tended you'll bit follow the of we plant compression capital, to deferring increase bigger that of get a signs head people tended then see start. maybe business, little are as to to production think still the the trying that think, traditionally I and been first, throughput, after so a

Tim Monachello

for me. an one, on I'm energy give last things then processing And gas if like just you of transition wondering for CCUS, idea equipment. you're me what you. bio Got seeing opportunities, applications hydrogen

David Barta

I plan, and really end, those growth a us aspects working it's where and the our think pretty new for all indications part of various through topics strategic have of early all looks rigorous we're as product that in team at we of robust, technologies. development

with were in deeper context potential looking with much to at, some others. And partner a

that no are are you ideas have natural and a you But a we're and public the team revenue, of gas out those our for by led some work technologies of the we our certainly short think looking described. I water in as are company I for of that a provider Exterran, think, certainly But be to there hasn't been companies alternative a traditional model team, there for potentials of at technology and that and that natural know, some there seeing interest. great areas Tim, lot us term.

produce So an base that time technology on potentially world. where of that some equipment our areas in cases and is the are, various we're to And we're the we're traditional enjoying bolt in have market, installed of bear more our enormous own understanding we where equipment, already us, to some can the efficiency of of do looking and The already bringing what about applications today that's make looking gaps great Exterran use some the we of our to say install hydrocarbons. new customers at thing now how for efficient. doing right energy we some the around we're producing the at I'd spending technology it efficiencies

through we're But you to in a put can value subject I that it's big real time working So update No on. today. we're that that. dollars spending

Tim Monachello

will I answers. turn back. the appreciate I helpful. really That's

Operator

Thank you.

Our next of question. Doug with with question Capital. Northland the Please your from proceed comes line Becker

Doug Becker

Dave, couple few mentioned review. give just improvements structure part of Thanks, as the a might a operational look what you that times like? examples capital you Can

David Barta

more opportunities maybe and is word. more And again, operational, the better

So forecast working and CapEx we've then is assets, dependent upon again, the obviously, and capital. information provided

keep it a could customers there and looking are is improve a project motivations situation. we payments for our the whether is constantly that under a be make to whatever we working about good on an side? like, an today the that our there us working their So East, are on would very with to We've constantly we long It's and that willing improve we capital short that an suppliers that couple a project term, or where Middle like that, if a relationships situation? vendors big to this hard on and that customer sense to match at something's try things with someone looking, to our a can anything component, ECO primarily to there them we're and own curve contract business, and really internal could is term. examples fortunately, with with it's And payments, do fluid in customer example. working see is somewhere cash AMS has there in or suppliers be would example. ways trying the can could talked realize might That facility the equipment be, this, but be buy So potentially

the kind flexibility working needle nice but always potential So and that provide be I be things projects. type we're say we would those powder something backlog would thread way think I about ourselves on the and situation, to that to day, it's on certainly every think real more of more dry the a offensive of here this in are of

Doug Becker

you issuing Makes were sense. I'm And all options then anything in as the last table core, review. on table thinking that at equity? mentioned the of taken about off Has point, the been this particular, part

David Barta

that investors. a considering the probably that comes our for in deliberations. we not of I that make go a board sense team We're that out But of it options to and to have our specifics into company anything our particular, the when of this going point management that stakeholders doesn't rule all board all was and think

And And of and we'll talk management it. so point, some think, are share, those And, at we're topics, the frankly, board it. way we'll then. addressing about more I that's that's way have the kinds the and both approaching to

Doug Becker

is more ultimately see one the debt the the this. Just absolute out? this the we ratio plan that on that Is be decline is as actually rolled leverage expectation expectation, last or is potentially really it levels managing

David Barta

us, debt levels or leverage both. would Yes. that actually lower just way that If just other. that's advantage the addressing are But opportunities, capital we in would frankly, it's say require can structure that disruption it very list, there on way why lot side. of take opportunities, and are a the the type of operational for operational kind one of I on the and things a solves high any versus doesn't probably of obviously

Doug Becker

Sounds you. Thank good.

Operator

Our line comes DiRubbio of from your proceed with next question. question Please Brian Baird. with

Brian DiRubbio

you and that a of review structure So timeframe with chicken new is you're contracts circle from it. to gone back preventing sort capital on haven't you a thoughts this where actually occurring? I'm Good morning. do on to steps your love the you model provide problem, egg wondering, what I didn't recognizing on your have you communicated going haven't just the be? that is forward the and business want

Andrew Way

where you powder, the more more had dry and to in not said, This you've side there. anyway. got this of every is and flexible, really, of the from opportunity haven't when gun as construct head issues probably on any X.X billion, got we commercial being we've pipeline we've our is is will, there's about a about if a this start, a No, situation

few we're some to is these it got trying deals we into this we We're way there. from there's can a best throughout, yes, to we support, projects, in flexible to This opportunities. as looking imagine issue not are that sales walk at the as product billion the say, be forward, to really is, out. and by but prepared to There and project commercial about positioned gun can glad traditional is I And large not hybrid. tracking. Eco some all customer ourselves the crisis. being all. a always is what to years about of the we transparent that to It's mean, It's a not would It's project, see over that's being on way next we X.X large take Eco of there's really no motivated very product every figure a You head. to pipeline I little tell those sale possible advantage go there's yes.

Brian DiRubbio

it cash we paid requests cash provided better would track quarterly a with on and interest a just cash what's Got than really if but basis, be paid, you taxes can question flow. it on helpful going and more so

Andrew Way

Noted.

Brian DiRubbio

thank Great, you.

Operator

to gentlemen, any Ladies this for question back final you. and Mr. Way turn I'll answer Thank our concludes the floor session. comments. and

Andrew Way

for next Thank your part we Have everyone you. in a earnings later interest. and forward you call. safe Appreciate look of to today. update the summer the after and Thank dialing you

Operator

concludes you. This Thank today's conference.

this time. at lines your you disconnect may your participation. for Thank You

Exterran (EXTN) 10 Aug 212021 Q2 Earnings call transcript