Apergy Corporation (APY) Q4 2019 Earnings Call Transcript

Apergy Corporation (APY) Q4 2019 Earnings Call Transcript

apergy earnings corporation apy transcript
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Apergy Corporation (APY) Q4 2019 Earnings Call Transcript

Jay will then discuss our full year and fourth quarter results, and we'll be referring to the slides posted on our website, before turning the call back to Soma to discuss the progress on our growth initiatives.. I will now turn the call over to Soma to discuss Apergy's full year and fourth quarter results.. I would like to welcome our shareholders, our analysts and our employees to our full year and fourth quarter 2019 earnings call.. Turning to our full year and fourth quarter results, onshore activity levels in the U.S. remains subdued with particular weakness in December, driven by budget exhaustion and capital discipline at E&P operators.. Excluding $7.7 million of isolated fourth quarter charges in our U.S. artificial lift business related to a customer bankruptcy, fixed asset adjustments and few customer concessions, full year 2019 adjusted EBITDA was $259 million and $52 million in the fourth quarter.. Excluding isolated charges, our adjusted EBITDA margin was 21% in the fourth quarter and 23% for full year 2019.. Full year international revenues outside of North America were strong in 2019, achieving 12% growth over prior year.. We converted 10% of our revenue to free cash flow for both the…

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