C&J Energy Services, Ltd. (NYSE:CJES) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 03, 2018 • 10:00 am ET

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C&J Energy Services, Ltd. (NYSE:CJES) Q1 2018 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good day and welcome to the C&J Energy Services Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions). Please note this event is being recorded.

I would now like to turn the conference over to Daniel Jenkins, Vice President of Investor Relations.

Executive
Daniel Jenkins

Thank you, operator. Good morning, everyone, and welcome to the C&J Energy Services earnings conference call to discuss our results for the first quarter of 2018. With me today are Don Gawick, President and Chief Executive Officer; Mike Galvan, Interim Chief Financial Officer and Chief Accounting Officer and Pat Bixenman, Chief Administrative Officer and the President of Research and Technology. We appreciate your participation.

Before we get started, I would like to direct your attention to the forward-looking statements disclaimer contained in the news release that we issued this morning and is currently posted in the Investor Relations section of the Company's website.

In summary, the cautionary note states that information provided in the news release and on this conference call that speaks to the Company's expectations or predictions of the future are considered forward-looking statements intended to be covered by the safe harbor provisions under the federal securities laws. Such forward-looking statements are subject to risks and uncertainties, many of which are beyond the Company's control, which could cause our actual results to differ materially from those expressed in or implied by these statements.

We refer you to C&J's disclosures regarding risk factors and forward-looking statements in our filings with the SEC for a discussion of the known material factors that could cause our actual results to differ materially from those indicated or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements for any reason, and these statements speak only as of the date they were made.

Our comments today include non-GAAP financial measures. Additional details and the reconciliation to the most directly comparable GAAP financial measures are included in our first quarter earnings press release.

As a reminder, today's call is being webcast live and a replay will be available in the Investor Relations section of our website. Please note that information related on this call speaks only as of today, May 3, 2018. So, any time sensitive information may no longer be accurate at the time of the replay.

With that said, I'd like to turn the call over to Don Gawick, President and Chief Executive Officer of C&J Energy Services.

Executive
Donald Gawick

Thanks Daniel. Good morning everyone. Thank you for joining us today to discuss our results for the first quarter of 2018. We delivered another quarter of strong results, capitalizing on increasing customer demand in our core service lines and improve market pricing. We grew revenue 12.5% and adjusted EBITDA by over 28% sequentially. Achieving five consecutive quarters of double digit revenue and adjusted EBITDA growth is a solid testament to our ability to execute and deliver on our operational and financial plans.

In our Completion Services segment, we benefited from a full quarter impact