Nine Energy Service, Inc. (NYSE:NINE) Q4 2018 Earnings Conference Call - Final Transcript
Mar 07, 2019 • 11:00 am ET
Greetings and welcome to the Nine Energy Service Fourth Quarter and Year End 2018 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) Please note this conference call is being recorded.
I will now turn the conference over to your host Ms. Heather Schmidt. Thank you, you may begin.
Thank you. Good morning everyone and welcome to the Nine Energy Service earnings conference call to discuss our results for the fourth quarter and full year 2018.
With me today are Ann Fox, President and Chief Executive Officer; and Clinton Roeder, Chief Financial Officer. We appreciate your participation. Some of our comments today may include forward-looking statements reflecting Nine's views about future events. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations. We advise listeners to review our earnings release and the risk factors discussed in our filings with the SEC.
We undertake no obligation to revise or update publicly any forward-looking statements for any reason. Our comments today also include non-GAAP financial measures, additional details and a reconciliation to the most directly comparable GAAP financial measures are also included in our fourth quarter press release and can be found in the Investor Relations section of our website.
As a reminder, all financial and operational results for the full year and fourth quarter are consolidated for Nine, Frac Technology's and Magnum, and includes the legacy Nine business, in only the last six days of October and full month November and December for Magnum, reflecting the close of the transaction on October 25, 2018. All of Magnum's and Frac Technology's financial information from the acquisition date forward are reported under our Completion Solutions segment, as part of our completion tools service line.
I will now turn the call over to Ann Fox.
Ann G. Fox
Thanks, Heather. Good morning, everyone. Thank you for joining us today to discuss our fourth quarter and full year results for 2018. I want to start by talking about the year and highlight some of the teams many accomplishments. I am extremely proud of our team and the contribution that have come from every part of the organization. This year, we have grown through both profitable organic growth, as well as the strategic M&A.
We have and remain focused on driving value for our shareholders, customers and employees, and our positioning Nine as a completions focused company, that has coupled excellent conveyance service and execution at the well site with forward leaning technology.
Nine has realized tremendous financial growth year-over-year. Growing revenue by approximately 52% to $827.2 million, adjusted EBITDA by over 140% to $141.1 million and adjusted consolidated EBITDA margin by over 600 basis points. Every quarter of this year we saw sequential margin expansion. In Q1 of 2018, Nine's adjusted EBITDA margin was approximately 14%, representing margin expansion of approximately 700 basis