FTS International, Inc. announced preliminary financial and operational results

0
654

FTS International, Inc. FTSI, +5.47% (the “Company” or “FTSI”) today announced preliminary financial and operational results for the fourth quarter of 2018.

Preliminary Fourth Quarter Results

Revenue of $245 million to $250 million
Net income of $25 million to $27 million
Adjusted EBITDA of $62 million to $64 million
Capital expenditures of approximately $16 million for the fourth quarter and $101 million for the year
Repaid $57 million of debt, bringing principal amount of debt to approximately $508 million
$330 million of net debt, excluding unamortized discount and debt issuance costs

Average active frac fleets during the fourth quarter 2018 were 19.3, down from 21.8 in the third quarter 2018.
FTSI completed 6,038 stages during the fourth quarter 2018, or 313 stages per active fleet. This compares to 6,991 stages in the third quarter 2018, or 321 stages per active fleet.

Previous articleThe Frack sand Glut Means 19% Drop in Prices
Next articleBrent Oil Eases From 2019 Highs as Markets Await Trade Talks Outcome