Select Water Solutions(US:WTTR)2019-08-07 22:51Financial Data and Key Metrics Changes - Total revenue for Q2 2019 was $45.2 million, a decrease of 7.6% compared to $48.9 million in Q2 2018, primarily due to challenges in the lay flat hose business [18] - Adjusted EBITDA for Q2 2019 was $5.3 million, an increase from $4.1 million in Q1 2019, with an adjusted EBITDA margin increase of 324 basis points [30] - The net loss for Q2 2019 was $5 million, improved from a net loss of $11.2 million in the same period last year [28] Business Line Data and Key Metrics Changes - Revenue in Rocky Mountain internal trucking operations increased by 3.7% year-over-year, while third-party trucking revenue decreased by approximately 17% [20] - In the Northeast division, revenue improved by 11.6% year-over-year due to the acquisition of new disposal wells, with disposal revenue more than tripling compared to Q2 2018 [21] - The Southern division experienced a 10.5% revenue decrease, primarily due to reduced disposal volumes from a key pipeline customer [22] Market Data and Key Metrics Changes - Rig counts in the operating basins increased by 1% year-over-year, with the number of wells completed up by 5% [24] - Oil production volumes increased by 14% and gas production by 19% in the basins where the company operates [24] Company Strategy and Development Direction - The company is focused on creating scale, improving market presence, and enhancing customer value propositions while maintaining a conservative leverage ratio [14] - Strategic investments are being made in core assets, with a disciplined approach to capital spending [31] - The company is diversifying its customer base and developing strategies to better serve top customers [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the competitive market environment and the need for ongoing improvements to translate initiatives into better financial results [15] - The company is focused on optimizing operations, improving safety records, and reducing costs while maintaining service quality [13] Other Important Information - General and administrative expenses decreased by 16.7% year-over-year to $4.7 million, primarily due to cost-saving initiatives [27] - Total liquidity available as of June 30, 2019, was $22.6 million, consisting of cash and revolver availability [32] Q&A Session Summary Question: No questions were raised during the Q&A session - Management indicated that there were no questions and thanked participants for their time [36]