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1Q 2019 Earnings Presentation – CJ Energy Services Inc.

CJ Energy Services Inc. · May 7, 2019 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 1
  2. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 2
  3. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 3
    Increased consolidated revenue 4% to 511 million, generated Adjusted EBITDA(1) of just under 50 million and reported Adjusted EPS(1) of (0.28) Increased fracturing revenue by 22% and grew profitability per fleet by over 60% to 10.2…
  4. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 4
    1Q19 Market Conditions Consolidated Revenue Revenue decreased y-o-y but increased 4% sequentially; Adj. ( in MM) EBITDA decreased both y-o-y and sequentially 611 Results negatively affected by inclement weather and lower 568…
  5. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 5
    Revenue by Business Revenue by Basin Fluids Management 7% 6% Rig Services 13% 13% 42% Fracturing Coiled Tubing 5% 46% 12% 11% Cementing 9% 2% Other 18% 16% Completions Wireline & Pumping West Texas South Texas /…
  6. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 6
    ( in MM) Segment revenue decreased 13% year-over-year, 413 but increased 12% sequentially to 327MM 374 373 Segment Adjusted EBITDA decreased 33% year- over-year, but increased 23% sequentially to 54MM 327 293 Fracturing revenue…
  7. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 7
    ( in MM) Segment revenue and Adjusted EBITDA decreased both year-over-year and sequentially Cementing revenue decreased 12% year-over-year 99 96 94 and 15% sequentially 87 Cementing business was negatively affected by: 79 o…
  8. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 8
    Segment revenue increased 14% year-over-year to ( in MM) 105MM and was essentially flat sequentially Segment Adjusted EBITDA increased 25% year-over- 99 104 105 year, but decreased 47% sequentially to 7MM 99 91 Segment…
  9. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 9
    SG&A Expense D&A Expense ( in MM) ( in MM) 61 63 60 66 54 60 46 50 54 50 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q19 Highlights 2Q19 Cost Guidance SG&A expense decreased 19% year-over-year but…
  10. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 10
    No Leverage and Ample Liquidity 2019 Capital Budget & Highlights ( in MM) Cash ABL Availability Corporate, Facilities, R&T and Other 466 13% 393 371 364 17% Growth 356 317 235 275 70% Maintenance 110 136 76 89 6/30/2018…
  11. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 11
    2Q19 Outlook 2019 Thoughts Expecting consolidated revenue to increase mid to high Current 2019 budget calls for 695,000 HHP deployed single digits sequentially and profitability to improve mostly throughout the year at improving…
  12. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 12
  13. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 13
  14. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 14
    MM; unless otherwise stated Full Year 1Q'18 2Q'18 3Q'18 4Q'18 2018 1Q'19 Revenue Completion Services 374 413 373 293 1,454 327 Well Construction & Intervention Services 88 99 96 94 376 79 Well Support Services 91 99 99 104 393 105…
  15. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 15
    C&J ENERGY SERVICES INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) (In thousands, except per share data) (Unaudited) Three Months Ended March 31, 2019 December 31, 2018 September 30, 2018…
  16. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 16
    C&J ENERGY SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF NET DECREASE IN CASH AND CASH EQUIVALENTS TO FREE CASH FLOW USAGE (In thousands) (Unaudited) Three Months Ended March 31, 2019 Net decrease in cash and cash equivalents…
  17. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 17
    C&J ENERGY SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF FRACTURING NET INCOME (LOSS) TO FRACTURING ADJUSTED EBITDA (In thousands, except average active fleet data) (Unaudited) Three Months Ended March 31, 2019 December 31,…
  18. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 18
    Fracturing Stages Wireline Runs 16,203 15,849 4,823 4,872 5,100 14,704 4,652 4,197 13,132 12,628 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 Coiled Tubing Jobs Cementing Jobs 810 843 721 2,503 721 2,357…
  19. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 19
    U.S. Rig Hours U.S. Truck Hours 336,261 337,306 96,208 95,149 310,445 93,911 307,002 305,546 92,428 92,956 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19
  20. 1Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 20

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