Core Laboratories NV (CLB) Q1 2020 Earnings Call Transcript

Core Laboratories NV (CLB) Q1 2020 Earnings Call Transcript

We'd like to welcome all of our shareholders, analysts, and most importantly, our employees to Core Laboratories' first quarter 2020 earnings conference call.. Then I'll return and review Core's three financial tenets, which the company employs to build long-term shareholder value.. I'd like to review the three financial tenets of which Core has used to build shareholder value over the 25-year history of being a publicly traded company.. During the first quarter of 2020, Core generated over $18.5 million in free cash flow, marking the 74th consecutive quarter of generating free cash.. Also in the first quarter, Core once again produced oil field industry-leading return on invested capital for the 42nd consecutive quarter with an ROIC exceeding 12%.. And Core's third financial tenet, Core returned over $12 million back to our shareholders via our quarterly dividend and repurchasing a modest amount of stock while reducing debt in the quarter.. Then I will provide the overview of our operational performance for the first quarter, material items in the balance sheet and cash flow.. It is still important to understand that Core Lab was one of the few oil field service companies, which was able to remain profitable and generate free cash