Thank everyone. good you, John, and morning,
operating annual earnings John by to shareholders marked include a raise and with of $XXX million million income, our the and us for Select many finally, $XX.X $X.XX balance, by $XXX of record course of net total $XXX $X.X in $XX the our mentioned, strong million financial record EBITDA net and enabled revenue, of share, XX% year, billion activities. of million results As of retire year finishing dividend metrics. XXXX adjusted These year million financial cash position a cash debt provided These liquidity. per the quarterly to provide returns across over outstanding of
our customers, of has steady cash this critical more levels and and generation levels and business. consolidation headwind half commodity and operators Water regions softened networks size, the demand water scope water benefit demands activity the the aligned growth over activity unique infrastructure-based back completions customers to drivers networks drilling recent that largest with infrastructure with profitability production-levered and we with continue and ongoing to even of across all lifecycle recycling as a Select that the Increased to Importantly, by transition water Solutions, our achieved have despite price volatility. our success supply balance high-quality secular to Select's declining company industry a flow year. serve full from partners
segment. While and Technologies impacted saw the in segments ultimately were declines, the revenue more and Water industry Infrastructure Chemical by completions-levered Water the fourth activity profitability Services gains continued quarter
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history usage long-term in We a an agreements a contract. execute project the access a many of Thompson across backed of the have regions, case in put long new to unique us greenfield exclusive and by position which, Pipeline,
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In recent wave, assets basins located to also economically are we announced rather acquisitions infrastructure discrete, the networks. highly of growth distressed but or our across organic infrastructure of not our January. regional within underutilized to in addition opportunities, These these previous footprint entities acquisition two contracted three similar multiple
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forward these like into where provide acquired to our their networks. we we additional high-XXs existing We continue with our we the announced to currently yesterday backlog margins bring economics network discrete projects move year, new to we on with utilization, ones move on upward gross the to as under may accretive projects see execute the to connect and the As boost to additional of through assets to ability elect mid- acquisitions expect assets trajectory discussion. also our to to resume
to As goal predictable contribution repeatable, high-margin reach this profit our for achievable streams. John corporate is segment mentioned, of XXXX, of we but gross by end the believe an overall aspirational revenue XX% by underpinned
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and open remain cash buybacks recently we within commitment a as sheet, infrastructure to dividend. are our asset a increased while in bolt-ons While we and flow prioritizing tactical to execution balance maintain from incremental use strong projects capital we the near term, potential the regular on of
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margin results accounting year-end after the X of production QX, relatively X over activity was for write-downs about down The to even with X% legacy Technologies $X with levels, inventory declined Even million bit by so, business the revenue the percentage over expectations insurance a points our came for XX%. gross in chemicals of a points and decline. below adjustments, accounting sequentially bit the impacted here I referenced. items Chemical by in in line margins for quarter, fourth
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million SG&A and third. fourth the relative of in to While increased related higher costs or $XX this, $X.X quarter million, the majority the million, transaction fourth rebranding $X.X to by quarter to
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our However, firmly EBITDA the year-over-year we XXXX in growing in a course driven our the by during basis improvement anticipated segments, over of Chemicals margin substantial our segment and and growth Infrastructure adjusted on XXXX. continued Water Services anticipate
annual which our should tax all website, available made XX-K, in week, as fourth spending understand evolves. benefit tax-related XX-K recent to and reflect a report listeners as adjustments changes few recognized our code. provide assessments by the TRA detail. impacted evaluated or financial independent also company be may the has TRA our encourage loss liability and I this years quarterly growing These attributes by our is be forward-looking sizable savings and an change also have tax likely that performance asset receivable and our XXXX agreements, years. forward-looking carryforwards in statements. triggered our financial reasonably on time to to deferred sustained third-party the the multiple we review quarter found TRA, XXXX to annual related to operating under into in as company tax future assessment and greater financial tax the next They well covered informed Concurrently, The net a and advisers saw U.S. projections by our progresses long-standing to may impacts. Select's profitability capital in tax
million benefited a expense net quarter valuation million. $XX.X assets, partially fourth $XX.X by $XX.X positively of was of allowance income of release offset associated tax a Our tax by deferred agreements receivable million with
years. $X relatively anticipate low pretax expense XXXX applied likely the impact would in in assets this increase to tax tax cash to a becoming million, state payments modest From million perspective, income is operating future we tax outlay percentage an including be accounting cash to primarily to While book expense our $X XXXX XX% existing tax in taxes, deferred a to forecasted prior range. to
in mid- provides increased employ high-$XX acquisitions us. quarterly, to per our acquisitions. I recent our range and facility of should expect, continue infrastructure quarter capital This execute lending we an linked sustainability $X will as organic the facility Depreciation interest And to million cost and expense $X attractive for amortization, increase million million to modestly from recent quarterly to development.
continue targets year interest for see to outperforming sustainability will water the rate reduction the safety recycling second for initiation. and We facility's the of benefits employee KPIs our consecutive since
$XXX of $XXX net of million million. the below quarter to million, $XXX finished our just fourth $XX we previous CapEx With year guidance million, at
The of healthy project development projects. maintenance are overall related infrastructure acquisitions growth improvement going CapEx, for XXXX. going to $XX million weighted towards of and this towards anticipate expect million about the component this towards growth $XX initiatives. which CapEx million $XXX opportunities is entering backlog and ongoing net spend a We We $XX with remaining heavily additional is of largest in margin recent and to XXXX to ongoing million million CapEx $XXX
of the $XX sales million proceeds from to asset during $XX CapEx million to spend in Additionally, gross XXXX. against we this year net anticipate generating
convert CapEx. into after in our we adjusted to flow we've of dollars than operations cash expect and those exceed outlined, EBITDA more free As XXXX XX% XXXX from
$XX like the couple from on high-return, QX, As water year receivable move conclude by goals the in debt-free, value balances million, hand. of our million XXXX, over $XXX or and our our We over forward infrastructure of with I'd to year reduced but a vision XXXX. the ended the million of course financial cash end with not of $XXX with accounts of just from shareholder long-lived, accomplished and we growing
And dollars cash and to infrastructure During adjusted across our line to needed EBITDA X/X XXX% flow XXXX, water and is to from that, them door. support and and performance their free success the for to Select year-on-year. value our due integrate that we open teams, bottom value over I'd to dollars up translate with Operator? while realize both it many grow the thank profitability like converted into investing nearly hard sustained to This I'll operations, questions. in the to of investments work. dedicated by
