Thanks, Blake.
like I Before in an of about to we helping would results know the future. Frank’s better get excited to be results, how you to lead employee quarterly way I to the the and am
was not for difficult after the Frank’s It years a our later industry oil past The half As Board even many know, prices I few and X and the company. have of the of started joined high IPO to rig about year our been when in second counts months plummet. XXXX. you
a of macro to the challenges issues In a internal addition from the downturn, transitioning public to of company. had has to the manage Frank’s private
of by have successful the successful a oil Fairmont serving boards board part being on have Frank’s companies CEO years, worked fortunate while am for been learned board a and in on of sector Core the teams I in of and service to addition Laboratories management I X been only for the X to or including the great on companies. some I Hydro, been So lot have I Frank’s, have the Santrol. weeks.
to course, experiences with times, But No include times now brought only as Of not turning rearview These me well. future. those of we’re experiences challenge good to but the Frank’s. the more I mirror.
looking for I through the a see Frank’s. We’re great windshield, future and
optimism? have the industry, to standpoint, not certain macro a bottom real From to excitement as But ahead an believe hit we I company. only starting move as Frank’s markets. my why but So with do in has we’re a
me Let few examples. you a give
at employees. Employees anywhere Frank’s foremost, and else. never First many and has consider Frank’s great love working working would
that employees Seasons. sacrifices company, such employees the personal not so some exactly good not staying have for of in even working employees. third-generation some These are places as crazy at that second-generation Frank’s We have are on that and pleasant, like rigs are the Four made shifts the
would employees is customer and support walls the to make walk their through in taken sure employees of brick Our of. care fellow
the running in we’re services. undisputed leader Second, tubular
the have tools best jobs. to We handle the technology toughest and
technological We safety, market edge. service. largest the Outside either in patents every We in market we have or XXX U.S., and have not XXX leader around U.S. but the patents our issued understands customer issued may share or truly the I the either technology have pending. we am not everyone the world, in sure are pending.
have $XXX grow million the strongest cash with need we This we equivalents industry business. one of in flexibility us almost and financial the Next, debt. the to balance in the gives with sheets no
portfolio running to that We have tubular continues an amazing tools, grow. array and of
services. well our construction as Blackhawks offering products well drilling of Additionally, we and as intervention expanding well are and tools
So on vision make for enable insisting employees. our on employees. we focus I’m sure renewed I what’s to my Frank’s? want a
tell then make if are but you be mobility. former simple owners. means and ideas X This our and upward the enable? your it means XXX% I mean succession companies working need made a what mine benefits. put of pay goal has that that think XX We’ve for would by training enabling own months, you and of come profit like suggestions and tracks creating but We good owners, like those employees, our a A can those am is best, having training, about. with really off cross-training, used last planning grow concept. All many all I great career and and a to providing by to means owned good can expected hiring mobility. So safe It plug environment. don’t boss what a up providing that of fair door. for talking and improvement. powerful Frank’s. decisions to do check the having those also baseline, providing the is strides Make And make Employees first, been enabled always by That’s things upward with think brains leaks. Frank’s Think over have employees has incidents. starts to at the Enabling engaging we great safety but leaks.
are years, but they they that totally I are accountability. accountability. is relates have accountability, but full for to not accountable they Frank’s would need have of corporate was field all thing employees successful, and the great support division there. does system see the Core support have I will No and systems big for their have name those a and Another staff specific board be will functions. to point I presidents all tools results. managers this to The is we the names accountable. get to pushed operations into Laboratories at on Their like over XX the here. of
have results not past third quartile timeframe on or totally terms Depending to over two, is return. as last happy. with these not fourth we been shareholder on of The like performer or year consistently results. unacceptable. look performance. I’d address the choose, total which This you Now I’m a our is in I board back happy
not employees happy. our shareholders are not happy. are And Our
and One those the we the and you to of great hear most shareholders today, as talk great takeaways at them. not balance good sheet. are great giving it Remember technology as our well important I grow We mentioned a top of is, must a employees, strengths line. for beginning bottom return the to the expect my line
all and these deliver We proud of. shareholder total be can will use returns we excel strengths to
will time. we growth how the create our revenue for will am significantly leading shareholders So over development improve new focus, profitability productivity, going and forward? a I which strategic of value
do. embedded in strategy-focused everything we thinking We are become with strategic organization agile, going as an to continuously
Our by In shareholder understood to our are strategic developing and order five every owned strategy return, we themes. will be employee. increase
the enabling envy on as that from place potential First, oil to long known the service. talked filling a we has and we high been industry. will people. damper The about feeling, in Frank’s develop work people. want put in I’ve to employees the with bottom temporarily being downturn already but to of have may return the
will go remain we of a in even leader. technological terms Second, being further and
listening step with technological avenue but TRS, have on traditionally work superiority. developments This to we true been continue change technology to for our additional an has now by will customers. Blackhawk, for We
and rig complete to safer We on that enable services will drill that and to extend our customers our cheaper. provide introduce solutions wells new solutions time the innovative and comprehensive our faster, and customers, and products
we management. utilize leadership and practices best will Third, of financial
will We have do. in accountability everything we
business, wisely business Profitability will the capital the the and profitable forecast results great of beginning want to be allocate revenue. ability yield Fourth, be transaction. part do priority. from to grow a will everything a analysis to we we of end Our any financial
and understand profitability know will We why. region by customer, and country the
or pick Effective in make being assets Lastly, we return and means will because with for us our represents focus the in safely customers. leaks. value and right our service the a use an changes effective. agile, time, impressive the place, customers for and we product the great pivot line right organization, Agile the we’ll of shareholders. price productive Frank’s plug at Efficient efficient solutions can best profit we means be where which market at superior pillars with first and a our believe they are a on can being means deliver productively
based of to will cost a am The the implement on on and clearly emphasize me not horizon to After very in be weeks, prioritized I initiatives. to in we’re time and position stages X initiatives investment specific we details. required. choose planning revenue impact, early pursue elaborate Let
these the over will out be to launched. initiatives months, X and fleshed X next However,
on you forward, will progress update strategic Going initiatives. in executing our I these
on their the the towards million efforts a a by Frank’s quarter return sale the and tax of assets, positive in of of road. free let’s cash now, $X to second the achieving internal move allows very aircraft improvements Slide us including little driven on in the was free path the king in flow cash saw opportunities flow first since this team I’m positive downturn, time take sustained step for over and cash quarter of cash management to The our highlights positive So for growth and of the flexibility the future. receivables, a down pleased the nonessential is financial delivering X. abroad. with facilities In a of advantage million from collection $XX XXXX. to third in flow
in increase rig our also up revenue improvement U.S. continued sequentially with We XX% count. had X% business Land to compared in Services a
year the XXXX, first this the first some we X count seen revenue in our has Even business. have the the rig X to due growth up-sell U.S. the increase During technology. fourth months of see months declines this of in of to compared begun land expect Land though still revenue to in we quarter, the XX%
quarter Another be markets. positive more slightly saw segments our costs selected down development of business despite and in as being to and International in International hard to as teams the increases can in mix the work improved well in improved in Blackhawk control profitable some the margins was attributed the to flat work we revenue The Blackhawk.
during novel this we by the tools as already This, revenue rig solution latest and Finally, tools. eliminating for tools, need the tool strings our casing more help save encouraging rig has other us of successful VersaFlo commercial per well customers growing I’d of running features the realized and our quarter highlight to drill into customer pipe flowback This are recovery and XXXX. VersaFlo very runs addition new is as successful and are customers. and been multiple fourth innovation as The to improve will The lead this benefits run more improved our the set for like new circulation in to and of for the division. valuable casing and fluid time landing response by will to tool. the safety first
first. to to of and customer call putting ingenuity work attention for team the in the technology I the engineering needs their and want dedication Additionally, our of
example innovations XX-inch well their a well to the delivery vertical and our the the handling We Another a Kyle? I for system the the called accomplishments regularly well implement reputation Kyle take are Canada. as providing will allowed to over that pride service are that to reengineering site-specific our trusted great more products and construction give string offshore some financial to successes reinforce third These casing our This value-added engineering pipe suspension customers. is of quarter conditions. these in specific With detail commitment and types on are that, intervention confident conductor customer of to design we of call meet and provider turn services. to technology and results.