![]() We expanded and upgraded our coiled tubing fleet, increasing our large diameter unit count from 6 to 10 units. We maintained our industry leading safety record and expanded our customer base. We plan to materially reduce our CapEx spend in 2019, which should position us to further strengthen our balance sheet. Our net debt balance as of Decemstands at $19.6 million. We enhanced our balance sheet using IPO proceed to pay down debt and we put in place to new ABL facility. 2018 full year revenues were up 38% to $604 million and our adjusted EBITDA was up 47% to $60 million. Before I discuss the specifics of the fourth quarter, I'd like to mark our first anniversary as a public company by highlighting the progress we have made over the past year. Thank you, Ken, and good morning everyone. The comments today may also include certain non-GAAP financial measures, additional details and reconciliation to the most directly comparable GAAP financial measures are included in the quarterly press release, which can be found on the QES website.Īnd now with that behind me, I'd like to turn the call over to QES's President and CEO, Mr. The listener encouraged to read the annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K to understand certain of those risks, uncertainties and contingencies. However, various risks, uncertainties and contingencies could cause actual results, performance or achievements to differ materially from those expressed in the statements made by management. These forward-looking statements reflect the current views of QES' management. In addition, the comments made by management during this conference call may contain forward-looking statements within the meaning of the United States Federal Securities Laws. Please note that information reported on this call speaks only as of today, March 7, 2019, and therefore, you're advised that time-sensitive information may no longer be accurate as of time of any replay listening or transcript reading. ![]() And more information on how to access the replay features was included in yesterday's earnings release. There is also a recorded replay available until March 14, 2019. Following my remarks, management will provide a high-level commentary on the financial details of the fourth quarter and outlook before opening the call for Q&A.īefore I turn the call over to management, I have a few housekeeping details to run through, there will be a replay of today's call and it will be available via webcast on the Company's website at. With me today are Rogers Herndon, QES's President and CEO and Keefer Lehner, the CFO and Executive Vice President. We appreciate you joining us for the Quintana Energy Services conference call and webcast to review fourth quarter 2018 results. Thank you, operator, and good morning everyone. It is now my pleasure to introduce your host, Ken Dennard with Dennard Lascar, Investor Relations. As a reminder, this conference is being recorded. A question-and-answer session will follow the formal presentation. At this time, all participants are in a listen-only mode. Greetings, and welcome to the Quintana Energy Services Fourth Quarter Earnings Conference Call. Harry Pollans - Bank of America Merrill Lynch Taylor Zurcher - Tudor, Pickering, Holt & Company ![]() ![]() ( NYSE: QES) Q4 2018 Earnings Conference Call Ma10:00 AM ET ![]()
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