Diligent boards login2/27/2023 ![]() ![]() Tidewater Renewables expects gross capital cost to be approximately 10% above the previously announced guidance of $235 million. Renewables business continues to outperform expectations in both adjusted EBITDA and distributable cash flow but do also want to highlight that consistent with the global economic environment, Tidewater Renewables is experiencing capital cost inflationary pressures as we resolve supply chain disruptions while adhering to the construction time line. We have increased our guidance from - for 2022 from $230 million to $245 million of adjusted EBITDA to $235 million to $255 million of consolidated adjusted EBITDA and do expect the strong performance to continue into and through 2023. We expect a strong Q4 and have increased our 2022 guidance as a result. ![]() This represents a 17% increase in adjusted EBITDA year-over-year. We are pleased to have delivered another strong quarter where we delivered $62 million of consolidated adjusted EBITDA in Q3 2022. I apologize for the technical difficulties. So again, thanks again for joining us today. We'll take it back and start from the top just because they're not sure where you lost us. We have increased our guidance for 2022 from $230 million to $245 million of adjusted EBITDA to $235 million to $255 million of consolidated adjusted EBITDA and do expect the strong performance to continue into and through 2023. Good afternoon to those of you out east, and good morning to those of us here in the West, and thank you for joining our Q3 2022 conference call. And with that, I'll pass it off to Joel Macleod to discuss some highlights from the quarter. To know more about these forward-looking statements and non-GAAP measures, please see the company's various financial reports, which are available at and on SEDAR. Further, some of the information provided refers to non-GAAP measures. ![]() Forward-looking statements we may express or imply today are subject to risks and uncertainties, which can cause actual results to differ from expectations. Before passing the call off to Joel to review some highlights, I just want to quickly remind you that some of the comments made today may be forward-looking in nature and are based on Tidewater's current expectations, estimates, judgments and projections. And on the call with me today is Joel MacLeod, Tidewater's Chairman and CEO Brian Newmarch, Chief Financial Officer and Doug Beamer, Tidewater's VP of Corporate Finance. I'm Scott Bowman, Director of Capital Markets. Thank you, and welcome, everyone, to Tidewater Midstream's Third Quarter Results Conference Call. And I would like to turn the conference over to Scott Bowman, Director of Capital Markets. Also note that this call is being recorded on Thursday, November 10, 2022. If at any time during this call, you require for an operator. Following the presentation, we will conduct a question-and-answer session. At this time, all participants are in listen on the mode. Welcome to Tidewater Midstream Q3 Financial Results Conference Call. Good afternoon, and morning, ladies and gentlemen. Scott Bowman - Director of Capital Markets ![]() ( OTCPK:TWMIF) Q3 2022 Earnings Conference Call Novem1:00 PM ET Tidewater Midstream and Infrastructure Ltd. ![]()
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