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2Q 2019 Earnings Presentation – CJ Energy Services Inc.

CJ Energy Services Inc. · Aug 6, 2019 · 21 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. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 1
  2. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 2
  3. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 3
    Consolidated revenue totaled 501 million, generating Adjusted EBITDA(1) of 52 million, reported Adjusted EPS(1) of (0.20), and free cash flow(2) of 26 million Stacked under-utilized equipment in several businesses and idled two…
  4. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 4
    2Q19 Market Conditions Consolidated Revenue Revenue decreased 18% y-o-y and 2% sequentially; Adj. ( in MM) EBITDA decreased 43% y-o-y, but increased 5% sequentially 611 Results negatively affected by increased white space in our…
  5. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 5
    Revenue by Business Revenue by Basin Fluids Management 7% 9% Rig Services 14% 15% 34% Fracturing Coiled Tubing 44% 5% 13% 10% Cementing 2% 10% 19% Other 18% Completions Wireline & Pumpdown West Texas South Texas /…
  6. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 6
    ( in MM) Segment revenue decreased 22% year-over-year 413 and 1% sequentially to 322MM 373 Segment Adjusted EBITDA decreased 43% year- over-year and 12% sequentially to 48MM 327 322 293 Fracturing revenue decreased 24%…
  7. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 7
    ( in MM) Segment revenue decreased 27% year-over-year and 8% sequentially to 73 million 99 96 94 Segment Adjusted EBITDA decreased year-over- year, but increased 8% sequentially to 7 million 79 73 Segment profitability improved…
  8. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 8
    ( in MM) Segment revenue increased 8% year-over-year to 106MM and was essentially flat sequentially 105 106 99 99 104 Segment Adjusted EBITDA increased 17% year-over- year and doubled sequentially to 13MM Segment profitability…
  9. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 9
    SG&A Expense D&A Expense ( in MM) ( in MM) 60 57 61 63 60 58 54 52 55 54 50 50 50 49 46 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 (1) SG&A Adjusted SG&A 2Q19 Highlights 3Q19 Cost Guidance SG&A expense…
  10. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 10
    No Leverage and Ample Liquidity Revised 2019 Capital Budget ( in MM) Cash ABL Availability Corporate, Facilities, 393 R&T and Other 371 364 380 7% 8% Growth 235 266 317 275 85% Maintenance 136 114 76 89 9/30/2018…
  11. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 11
    3Q19 Outlook(1) 2H19 Thoughts(1) Currently expecting consolidated revenue to decline mid to Focused on dedicating deployed fracturing fleets with long- upper single digits sequentially due to the divestiture of our standing, efficient…
  12. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 12
  13. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 13
  14. 2Q 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 2Q'19 Revenue Completion Services 374 413 373 293 1,454 327 322 Well Construction & Intervention Services 88 99 96 94 376 79 73 Well Support Services 91 99 99 104…
  15. 2Q 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) TO ADJUSTED EBITDA (In thousands, except per share data) (Unaudited) Three Months Ended June 30, 2019 March 31, 2019…
  16. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 16
    C&J ENERGY SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS TO FREE CASH FLOW GENERATION (USAGE) (In thousands) (Unaudited) Three Months Six Months June 30, 2019 Net increase…
  17. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 17
    C&J ENERGY SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF FRACTURING NET INCOME (LOSS) TO ADJUSTED EBITDA (In thousands, except average active fleet data) (Unaudited) Three Months Ended June 30, 2019 March 31, 2019 December 31,…
  18. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 18
    C&J ENERGY SERVICES INC. AND SUBSIDIARIES RECONCILIATION OF SG&A TO ADJUSTED SG&A (In thousands) (Unaudited) Three Months Ended June 30, 2019 March 31, 2019 June 30, 2018 SG&A 54,562 53,684 59,908 Severance and business…
  19. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 19
    Fracturing Stages Wireline Runs 16,203 15,849 15,546 4,823 4,872 5,100 4,743 4,197 13,132 12,628 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 Coiled Tubing Jobs Cementing Jobs 843 2,357 2,248 721 2,097 721…
  20. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 20
    U.S. Rig Hours U.S. Truck Hours 336,261 337,306 335,892 96,208 95,985 95,149 310,445 93,911 305,546 92,956 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19
  21. 2Q 2019 Earnings Presentation – CJ Energy Services Inc. – slide 21

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