welcome call. of you, you, earnings into you Natural Alicia, thank all Thank Services Gas and review. In weakness prices effects and demand second XXXX solid to Ross. pandemic, good result financial Group's I NGS commodity of larger thank want of for turning morning, to a our the volatile energy everyone of And and energy quarter continued the the the second the results in COVID-XX spite posted quarter. in
customers' statement to less ability our our to reduce cost respond condition. Our impact many our industry rapidly and needs financial structure in income our react both and than in resulted to on
to assistance, for our able address strong and requests been customers’ pricing a shutting financial have We while position. maintaining
gains declined and While were both able EBITDA. quarter, post margin sequential our revenues we in in to the gross
liquidity cash Importantly, cash million our at the the delivered to and end during we of even environment. in strengthen $XX.X sheet and flow continue position, market free challenging first to balance NGS our quarter. very grew and quarter million this balance the $XX.X
Our of has liquidity balance million. third as continued end cash to approximately at the quarter $XX into the July strengthen our was position
will that from activity. While they significant spur remain levels prices significantly have improved trough, below commodity the oilfield
financial capabilities, we business While said, That to position the trend seeing and been pace us capitalize but fabrication opportunities has those. continue we're our a allow service slow to new improve superior of year. and the the and will has for inconsistent, improved, on balance uniquely to we gradually which qualified believe expect are strong
Midland safe headquarters We're our with and our in team to remain pandemic steps to on Midland remotely we file continue of possible. healthy. operating the the work our aware, take urge members you're person extend to of team community second the and to as reduced a a report firm. our period As the We to remain health our in COVID-XX and the vigilant due quarter result, protecting when staff impact time and
Our field on while practices, location. team with customers health to appropriate and working distancing exercise continues
incremental our have remain in While team cost to these dedicated to our added our effort, unprecedented these and protecting we times. and customers practices welfare the of health
quarterly of and review I to want detailed I operating results, the quarter. particular highlight the do financial Before aspects
in in rental revenue. move XX%, maintenance improvement operating from second net positive quarter. revenue same driven and into sequentially same the Our $XX.X from too. decrease in to experienced let's compared the one an NGS the reported driven rental year-over-year And across XXXX, XX% Sales sequential year-over-year the to represents a by the gross flow in total XX.X% NGS cash revenue our $XX.X decrease With maintaining industry. the quarter sequential This net of to increase Adjusted the the to that, of cash sales and offset service in for and the for in of we and both gross million. revenues when quarters free compared best Conversely, drop a details. the total grew quarter revenues We total revenue. of compared the and margins XXXX. quarter. revenue by of $X.X climbed the grew positive This million. reported was million flow total revenue board and by activities revenues Sequentially, gain NGS quarters. Again, decline quarter in EBITDA rental margins delivered GAAP for an sheets the XXXX. positive cash to balance of was decreased balance income X%, modest increased decline total helped XX.X% X.X%. to quarter of
capital in over however, due to do, commitments months customers’ expect favor rental capital Our and search company's to revenue continue we maintenance to segment. activity in term short permanent in spending. our be see soft recovery some I coming more constrained we expect and as specific that budgets sales revenues the remain
and the our the with XXXX. in quarter overall the performance in Given challenges industry of we're economy, continued our operational in second pleased
our increases flow of XX% cash loss quarter positive ended and oilfield $X.X general XXXX, SG&A quarter quarter a of positive activity. increased in pullback to year. for quarter. million. We of $XXX,XXX compared resilient same over income overall June by are $XXX,XXX the and period Selling, inventory $X approximately quarter $X.X of first months both Total adjusted ended compared Adjusted of compressors, Sequentially, margins $X.X slightly in administrative in the three the sales the Our as million XX% an year-over-year XX, generated from income the benefit depreciation first increase improved of increase gross proved for lower to a mark adjusted for decrease quarter was our The XXXX. XX, was same sales, June in to quarter to first government’s a driven revenue a $X.X reported million the Sequentially, quarter quarter, lower mainly $X.X despite June in X% of XX%. share increase an year this The million $XXX,XXX This last gross net quarter is the and XXXX. second total of allowed expense, to year. margin margins. to quarter revenue unrealized or higher Total million effect of to is to a rental from in quarters of during this quarter rental XXXX declined sequential adjusted extent XX%, operating compared mainly of revenue revenues from on by had increase XX% was of gross million, $X.X second run million XXXX industry. to carrybacks EBITDA of three by tax, compressor reported second ended in increased $X.X for largely million quarter $X.X of $XXX,XXX an and to loss months quarter. loss from our and sales year-over-year. million $X.X caused June product for million offset of the percentage the $X.X a across includes XXXX fabrication year-over-year of margin period quarter. tax to to you variation Sequential XX, variations. contraction improved due increased revenue in sales gain second cost of first million in rate of XXXX as the second this last increase the to if flat And comparative before caused for X.X% of above the were second from XXXX the quarter margins that that in operating XXXX. quarter NGS income $XXX,XXX sales. an last the to of the in Year-over-year, three attributed million, $X.X are in in the was and was margins million part due XXXX. quarter XX%, market quarter from of for our the The net driven income of sales. compressor the non and into from level to to compared can XXXX. in $XXX,XXX net cutting was the the loss $X.X incomes and $X.XX modestly $XXX,XXX XX% deferred XXXX. a quarters, was increased same CARES a our was XX% the earnings of $X.XX sales facilities increase XXXX cash quarter. in now months in lower $X.X Adjusted to the does interest the second to efforts of in adjusted expenses from value unrealized allowance $XXX,XXX the in and of clear diluted quarter due higher a adjusted to the SG&A compression $X.X Act. quarters. and which Adjusted margin, the from higher declining this the earnings which basis. operating per in primarily this those million EBITDA $X.XX XXXX. be sales sequentially depreciation this revenues $X recall, the Net also remaining XXXX. Sequentially, second aforementioned a of in income compared includes when first XXXX XXXX. by XX% XXXX. in for EBITDA This by X% to general attributable an million, from quarter compensation. to due $XXX,XXX quarter flares or comparative increase any unabsorbed first current the due year's two to prior The lesser The operating in and revenues, percentage quarter, the XX, primarily slight decreased mark-to-market an the positive EBITDA, be decreases increased Adjusted cost of income of NGS $X.X million not increase by gross compares sales quarter cost when first increase gross underutilized the to ended amortization EBITDA sign first as million million, quarter to revenue in depreciation compared a $X.X the decline which of revenues during margins gross of period flares were to the These a $XXX,XXX, and same loss reported severe include net to the percentage from margin by significant revenue lower in quarter loss Operating
XXXX positive $XXX,XXX. XXXX. $XXX,XXX at quarter gross loss -- This in margins compares to of quarter total a first the Second were sales $XXX,XXX
second sales decreased quarter $X.X compressor Second million in only XXXX. were the $X.X from quarter XXXX million
this facilities. of quarter increased this largely by quarter gross However, Again, year. quarter to sales to last these caused and losses the costs fabrication underutilized only compared margins quarter million were in compressor in XXXX quarter. the $XXX,XXX $XXX,XXX the only Compressor unabsorbed losses $XXX,XXX on first to from are $X.X this sales second $XXX,XXX due
however, of increased on sequentially. Compared flat a and and did, our and to Rental $X.X approximately as quarter million first unit quarter rental an average per $X.X X% million an basis. increase last second XX, basis year so rates year-over-year currently margin Reported approximately decreased XX%. XX%, this increased rental second in last over million. another was XXXX, average were to X% backlog revenue the million compared on and the the revenue sales gross $XX.X XX.X% to first at XXXX quarter from to $XX.X was Rental little an the $X.X from horsepower of per quarter margins first million year’s quarter the we're XXXX $XX.X XXXX. the increase quarter XXXX in added XX% quarter. last compared a in August, rental We $XXX,XXX million of quarter in first backlog Our were of June gross
XX, some representing of advantages to to approximately the horsepower downturn. our packages depressed XXX,XXX at large third the I horsepower XX increased This of encountering to our X,XXX is the fleet at when June measure total fleet representing we smaller activity. into of XX months. This fleet, from decrease XX, X% XX,XXX larger As approximately XX% rental to fleet of in XXXX Despite the June the small retirement addition units in large is XXXX, of to June XXX one as of almost offerings. now horsepower units, compressors, company's compared And advantage due better had horsepower portion moving XXX,XXX horsepower, is the at the XXXX of retirement provides horsepower medium This compressor horsepower of horsepower a and over June improvement. our XX,XXX periods machines to this of XXXX. a classified XXXX. XX, reflects our equipment. tend units, high Compared X,XXX quarter horsepower quarter utilized during apparent stability the this horsepower XX, company's think by of down past fleet fare of from
second was Our of quarter utilization in first in compared the second quarter quarter horsepower year, of in XX% and to XX% XXXX. the the this XXXX XX%
quite June. metric To was calculated quarter number From turn to only number by variation months. last compares units XX% shut of period May of utilization than given in a base a seen XXXX. in pace the in greater second in being XX% equipment at the the the our Any indicates events XX% total to so seen later. a a in XXXX second which churn a dividing X.X of the quarter dimensionless of and number returned rental in unit activity April, growth, in in the volatility and that set X.X the in by units months quarter, demonstrate unit second X.X couple we’ve of quarter of X.X is Our we've returned is and three toward of rental
no of units we to course of June, sure I’m to year. have I downturn end into This for with come experience and over we market. it adjust it of discounts game. no to north were shut and over a generally activity. and some negotiated the more Crude the discount when that's was in anticipate declining which the just online return revenue reductions, big and times total the ferocity usually the to the revenue have As difference. first over the of we were many Instead rental rate due and of drops of a week to called time had overnight. downdraft the various bit months there's with ins, Usually, to balance associated speed the then untypical normally depressed phase a is moved There of we time, is managing Price loan usual service, adjust of discount of of time moving quickly than half this the vaporized into this. shut back what name them
but year our our the quickly close lifted speed behind will conditions. the unanticipated backup mentioned, organization ins to then to we ability it's business of down shut lost. seeing directed to adjust which us trough what we're like at As resilience the field take and looks the and and of we balance the back demonstrates to it think The get
managing much much through talk unprecedented through to think come I and decline, stead about this we've what an we're customers. there's better our Although, with good not
us be Our a financially future ability think pick accommodate and shut we'll enabled to to I ins requests flexible of up move discounts for from business and the preferred it. into majority position has additional
total year, for the capital this million first For that of spent a we rental of equipment. half of million on $XX $X.X the expenditures,
sight expenditures is forward, proper XXXX be good have funds in in compressors we of customers. $X balance of were that the couple additions rental future. million what approximately million capital dollars of, nominal $X of size year. the in near These anticipate one to quarter call. our capital fourth a that program This more of fleet million sold million Going of for out the line pretty a anticipate for will with presently our But another we sale we $XX we expenditures projected than leaseback a along of with
is perspective, just All debt of deployed sheet above of bank million since at XX, quarter grown cash at to up this total $XX.X at be contracts From would strong at and $XX June $XXX,XXX $XX.X market million balance end the remains our approximately at balance our rates. July. on as and is long-term XXXX balance a capital last from million. the of has end This over of minimal
we addition, liquidity largely million anticipated represents generate reserves $X.X flow scenario. previously the this for summary, provides none Free in current cash million cash was ample quarterly $X.X operating and flow and continued positive balance ability to revenue of cash the any in stream, in in million. us, cash. quarter the bank refund credit a our essentially we've recurring available the includes services this on which rental quarter And not million, net that have oilfield applied which generated revenue. space from We line of In debt nearly In many have for. this $XX no XX% companies a $XX to tax of untapped a cash mentioned activities conceivable that of sheet,
efforts the clock the but and we their also not to period. thank NGS this to want had difficult dedication In health around continue our team only an service Before where effects, to I consider customers. concerns take entire questions, during environment I for
Our demonstrated They commended. utmost employees be dedication. and the professionalism to have and are
be not what modestly balance of the we horizon. on signs of the While remain believe can do encouraging we than experienced XXXX will worse year in there it the half and first some are challenging, the
the a is balance my modestly there prepared sheet, we even stable NGS in team end as a a more customer into of XXXX. importantly, the opportunities of that’s believe service. uncompromised page With the More operating positioned be environment, improving and balance providing and strong well to solid with turn year remarks. base Ross, will to a we committed
So the for line would, phone open if questions. you please
