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As an example, our directional drilling segment saw a sizable drop in revenue, both sequentially and year-over-year, yet adjusted EBITDA and adjusted EBITDA margin came in at or near all-time highs.įurthermore, and perhaps the best illustration of these efforts is the fact that we generated roughly the same consolidated adjusted EBITDA in Q4, as we did in Q2, despite seeing revenue decline by $30 million.įinally, we generated over $14 million in free cash flow during the fourth quarter in the face of deteriorating market conditions, and constraint customer spending. While the fourth quarter and the year as a whole proved to be extremely challenging, our efforts to right size and optimize our operations are having a clear positive impact on results. Thank you for joining us today for Quintana Energy Services fourth quarter 2019 conference call. 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, I would like to turn the call over to QES’s President and CEO, Mr. The comments today may also include certain non-GAAP financial measures. The listener is 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 these risks, uncertainties and contingencies. However, various risks and 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, management's comments may contain forward-looking statements within the meaning of the United States federal securities laws. And therefore, you're advised that time sensitive information may no longer be accurate as of the time of any replay listening or transcript reading. Please note that the information reported on this call speaks only as of today, March 5, 2020.
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For information on how to access that replay feature please refer to yesterday's earnings release. There will also be a recorded replay available until March 12, 2020. There will be a replay of today's call, it will be available by webcast on the company's website and that's. 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 questions and answers. With me today are Chris Baker, QES's President and Chief Executive Officer and Keefer Lehner, Chief Financial Officer and Executive Vice President. We appreciate you joining us for the Quintana Energy Services conference call and webcast to review fourth quarter 2019 results. Thank you, operator and good morning everyone. It is now my pleasure to introduce your host for today's call. As a reminder, this conference call is being recorded. Greetings, and welcome to the Quintana Energy Services' Fourth Quarter Earnings Conference Call. ( NYSE: QES) Q4 2019 Earnings Conference Call Ma10:00 AM ET
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