Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) Q4 2018 Earnings Conference Call - Final Transcript
Feb 28, 2019 • 08:30 am ET
Good morning, and welcome to the Solaris Fourth Quarter and Full Year 2018 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 Yvonne Fletcher, Senior Vice President, Finance and Investor Relations. Please go ahead.
Good morning and welcome to the Solaris Fourth Quarter and Full Year 2018 Earnings Conference Call. I'm joined today by our Chairman and CEO, Bill Zartler; our President and CFO, Kyle Ramachandran; and our Chief Operating Officer, Kelly Price.
Before we begin, I'd like to remind you of our standard cautionary remarks regarding the forward-looking nature of some of the statements that we will make today. Such forward-looking statements may include comments regarding future financial results and reflect a number of known and unknown risks. Please refer to our press release issued yesterday, along with other recent public filings with the Securities and Exchange Commission that outline those risks.
I would also like to point out that our earnings release and today's conference call will contain discussion of our non-GAAP financial measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are available in our earnings release.
With that, I'll now turn the call over to our Chairman and CEO, Bill Zartler.
William A. Zartler
Thank you, Yvonne, and welcome, everyone. 2018 was a transformative year for Soliris across a number of funds. First, we significantly expanded our Mobile Proppant Management System offering. We began 2018, with only 77 Mobile Proppant Management Systems in the fleet, which represented a market presence about on par with our next largest competitor. During the year, we outdid the competition and demonstrated to customers that Solaris Solutions can reliably increase completion efficiency and enhance wellsite safety. As a result, we ended the year with a leading share of around a third of the total market and 160 Mobile Proppant Management Systems in the fleet. Bakken (ph) we diversify our product offering. In 2018, we completed the construction of our facility in Kingfisher Oklahoma and commenced transloading activity. In addition, we designed and manufactured and introduced our new silo based patent pending mobile chemical management system to the market.
Our mobile chemical system is the new product lines both Soliris and the industry, and represents additional growth potential for the company as we look to 2019. Finally in 2018, we introduced our last Mobile Proppant Management Service offering, which we expect to grow in 2019. While many of our customers prefer to run our systems simply for the benefits of the wellsite in their own supply chain, a segment of the market is looking for a fully delivered solution that we expect to continue to service in 2019. The transformational business that we drove in 2018 is also evident in our financial results. Solaris's adjusted EBITDA