everyone. Thank for you, discuss joining and quarter good financial results. Thanks our Michael, morning, us first today to
were revenues as immediately compared X.X% XXXX up quarter quarter. First to the preceding
Southwest better performed performed Northeast/Mid-Con for and substantially While peers our our segments Mountains our our than expectations. somewhat better segment our expectations and Rocky than the quarter, worse slightly than
gains the Rocky Northeast/Mid-Con organic both in and of X.X% geo growth Revenue revenue organic XX% the share Specifically, X.X% Southwest these segments in by respectively, approximately decline segments segment. Rocky a Mountains delivered Northeast/Mid-Con driven market and greater of and offset segments. Mountains was revenues by in growth in
the of reflected certain particularly the of such the first geo activity our in months revenue pricing very Southwest asset two during not The utilization environment our as pricing lower chose region the assets. deploy of While customers, result environment. Southwest decline was to wireline slow these weak of quarter, we the and levels by that a
Fortunately, has are on line. and back picked and up firmed May pricing during assets as coming has these activity April
Importantly, in experienced strong revenue segments all geo April. growth
In April, month experienced adjusted EBITDA Moreover, the the month of increase February, more quarter, first Company challenging in EBITDA as third approximately double revenue compared fact, XX% April Notwithstanding the of April margins greater was adjusted the quarter. adjusted than the our conditions EBITDA margin than of February approximately generated market peer-leading XX%. of adjusted the quarter, first EBITDA, XX%. and was the to
quarter we second and that approximate approximately begin XX% such increase have the to second during approximate the the continued million. XX% as XXXX quarter, of adjusted by compared to an increase in $XX the revenues, profitability revenues the first in month Company quarter, May EBITDA expecting improve is accompanied to As an
in important also pumping, high-pressure requested growth the several the testing by our of we flow expansion markets. large because have from coiled to rollout back who of of services on accelerate, services. the in spreads coiled non-frac The and our diameter our tubing because but diameter thru-tubing our DHPS the wireline, and Rockies, effect is services geo our half other As pull-through rollout the large planned of of of the customers Mid-Con flow that’s the our assets planned only complementary to expect second we revenue profitability specific services in and and aided tubing back year, and the look of not us
now the into on Company. for productive finally, driving of take a customer I recently gaining we will the a our quarter been spend. of of what to has existing would very penetration the accounts, services complete review will And of integration moment to We customer greater first like acquired focused remain businesses. course share
expected the Tecton and successfully expanded integration services in while recent respectively. Services existing in the of quarter, of to end be are XXXX, and during completed acquisitions Rockies of the Tecton through the During will Bone The quarters third Services. integrations presence of Red be the integration of by Mid-Con provided QX strengthened completed Red the be breadth will we These QX. the completed to and our customers the geographical second Bone before and Energy of
We trained the testing service advance product and specific filtration, approximately product new and line. regional tubing of our flow in back and have of XX line service coiled hired launches personnel our
related first and executed will our Southwest combination and the our we to to XX% tubing full-year hangers the XX quarter market, continued or lines Tempress additional fact, in discuss and were with of including bearing tool services million of XXXX assembly. expenses training large count the total with tubing integration approximately X. proprietary motor On spreads recent approximately PSLs, associated our operating prior services In through discuss diameter plugs, and performance spreads in And out personnel acquisitions service three flotation we current today’s our these first our increasing of several month of rolling the segment Havok quarter. product and the guidance. principally coiled out Transaction $X large with new to flawlessly quarter have out operating by collars own new financial May, roll second roll the and HydroPull review liner XXXX our of coiled personnel call, oilfield dissolvable proprietary along our diameter on-boarding
Libya. year the in conflicts reviewing describe on solid quarter of Since marked oil its demand U.S. approximately which aggressive fourth the a allies, XXXX, by from recovered cuts since output benchmark is up decline start the OPEC Iran best current XX%, experts to and and of in market government XXXX. much the growth Industry Venezuela to prices U.S. to environment. price and and in sanctions escalating services oil crude Let’s its dramatic begin the oilfield
the crude late right occurred in quarter benchmark, wild fourth increase E&P sequential U.S. season, our substantial a in and the XXX strong near a a in in benchmark oil XXXX The in in of Permian our U.S. of the The the end a a the off DUC first first from XXXX of Completion in as count decline in the in middle also number to fiscal the by quarter, is both budgeting was the wells of XX% XXX downward by mid-single-digit current of issues which the as of year. start of activity pressure Permian led of cores of the and high June operating to rig XXXX frac XXXX resulted reflected a decline or oil of by With quarter. largely the drilled capacity a which substantial in up the completion slowdown to prices end the XXXX quarter activity the XX% decline year-over-year the in to on spending would DUCs takeaway ramp companies accompanied and but another resolved of count. slow the to count in by have the number Permian. increase uncompleted be put second in as
overall by Permian the XX% DUCs of the E&Ps activity. DUC behavior of note, result to completion capacity significantly in count expect to marked over the has focused Permian the this attended year-over-year for on of have generating accounted in additional positive with Clearly, and capital increase the recently, DUC in of a to a U.S. operators review free a industry. as adherence health the has more and which capital come pipeline positive long-term drawdown On line We the the a most count for in increased change the in flow cross-section the taken the disciplined we Specifically, shareholders. returning on very budget cash approach to broad
to turn slide quarter three XXXX results. our consolidated first Let's and review
solidly in segment reflected Mountains to quarter recent share greater performance all were XXXX and to to net quarter adjusted contributions EBITDA X.X% revenue Southwest segment almost First positive net Rockies share, segments, Southwest XX.X% Revenue by adjusted $XXX.X customers in earnings adjusted approximately addition costs, Rocky new XX%. million and a and Northeast/Mid-Con while increased million, existing revenues and the lower respectively. in profitability the number basis our completion revenues by market offset $X.XX of the services The respectively, margin segment both and revenues. and to all XX%, segments negatively an and XXXX. were by operating $X.X in earnings and contributed decreased Northeast/Mid-Con line activities course Mountains XX%, customers Adjusted increased and intervention million and from Essentially, fourth our of approximately of adjusted breadth EBITDA $X was the acquisitions. of XX.X% per adjusted XX%, adjusted of the of were earnings net segment. services diluted greater impacted earnings provided million share revenues the Rocky revenues EBITDA earnings, compared first quarter gains XXXX and $XX.X product million including increase of of and as the growth Northeast/Mid-Con QX on by production adjusted were XX% and per $X.X increased operating respectively,
financial Mountains and Let's with first our now segment. results, four turn quarter beginning XXXX slide review Rocky segment to our
services, DHPS, $X breadth of complementary of contributions initial First $X.X both was of and share earlier, active XXXX, increased million, we acquisitions. quarter driven and high-pressure services. fourth Adjusted our million, XXXX the $XX thru-tubing increase revenues, out and mentioned and EBITDA of as in respect as customers coil of non-frac with XX.X%, of $XX $X.X compared XXXX. Mountains under the large earnings wireline, increase pull-through existing the number With million to from plan reflected adjusted which diameter footprint the including PSL XX% XX.X% compared Rockies, the an pumping, the to market just tubing broaden segment increases quarter provided the operating during were as course our further Rocky to million or of million or services further by gains and revenues of recent an enables of rollout customers of XXXX to fourth quarter other of
performance. turn our Let's to Northeast/Mid-Con five review slide segment and
provided of First growth quarter and increased of XXXX and XX%. earnings growth increases with customers, but of to we compared driven $XX about of was quarter $X.X growth primarily deliver services XX% contributions increased or million XX.X% operating approximately segment. of of from quarter X.X% million compared market breath of represented was or revenue and in revenues did million were This EBITDA million $X.X gains, $X revenues revenue the organic million or that by XX% the existing fourth share Adjusted in to Northeast/Mid-Con customers Adjusted included XXXX. as the segment number $XX including fourth both XXXX. active recent as the revenues acquisitions, initial and
including Mid-Con to roll further broaden which the the expect tubing we our Here we services. enables coiled of -- large footprint to expect further PSL services complementary XXXX, importantly the in out of pull-through out our in diameter
In planning back Mid-Con. addition, into flow to services roll newly we’re the out PSL acquired
to turn results and the first the quarter of six Company’s slide Southwest review segment. Let’s
quarter The support PSL first of hiring and coiled XX in For and and early beginning of the February Southwest to of the and our of quarter. Mid-Con in the first to Rockies. approximately decreased to the the $XX assets segment personnel the environment approximately segment the related XX% quarter quarter, Southwest training utilization a completion tubing slow weak majority million, ramp-up in first and costs at bore the driven in vast by activities of wireline the revenues March launch low our activities of pricing
of other coiled XX% $X.X to $X the X only EBITDA reflects tubing and trained decreased large in of additional units. As decline discussed and of and core revenues of was tubing XX% XXXX. Rockies increasing million the Mid-Con while diameter and million Southwest of total or diameter of tubing was operating count million executed loss absorption compared of segment as and in the or teams to quarter operation May, by coiled total the in hired Southwest the $X.X spreads segment a XX% flawlessly of coiled XX% earlier, three Adjusted large performance financial revenues rollout segments, through the quarter Adjusted cost. and significantly fourth of month spreads about first the our two the our lagged
now review a moment position Let’s our take and slide seven. financial on
XXXX, support lines. service rollout expenditures and and outstanding million, million XX, debt of approximately cash $XXX $XXX in was the XX%. $XXX was million, resulted debt product reflecting April less Company’s new to a Bone net million to acquisitions approximately capital our hand of ratio net under were facility. the Company’s approximately credit no debt Tecton There net of As long-term Red of $XXX the and the Total capital on of cash borrowings
So, lines expenditures by were $X.X recently complete related capital fiscal investments cash strategy expenditures segments. plan the flow, provided current third of The for year phase XXXX, reflecting XXXX Company substantially net approximately $XX service quarter reduced the product geographic to the months Company’s by expects the appropriate end of the three ended in the in April Capital was of million, quarter period strategic cash XX, expand flow XXXX. million. expects acquired to to our XXXX and throughout in the beginning investment and strong fourth free and operations of
now briefly guidance. review our XXXX second Let's and full-year quarter
First, to the second quarter.
That XXX earnings and an are that is XXXX, be compensation of XXXX. expect be and of $XX expected the earnings to diluted XX% be to about adjusted expected about quarter. and improvement, million on margin EBITDA exclude to expected diluted share. about would basis-point to quarter of would compensation compared $X.XX to revenues exclude adjusted to as quarter Net per we the XX%. increase million, and be XX% So, approximately Return to be and or increase an the invested about approximately XX% approximately in approximately of be $XXX per is non-cash amortization $XX compared capital approximately EBITDA net share of expense first an to first non-cash expense, million as
I'll reflecting about share about margin. expected Net about million, nine comp our XX% about roll guidance. diluted out new our are of per segment customers. by million third by and about product EBITDA full-year expense exclude each are to by to earnings service Company relevant million. range to the the broader net now to to be enabling lines turn representing adjusted slide $XXX and approximately expects in and strategic amortization to full $XXX CapEx review its complete the about to XX% investment substantially increase quarter and approximate increase per Q&A are for on all turn the to and increase substantial call non-cash an year. to expected With by Revenues for to this XX% exclude positive and and beginning non-cash and free of XX% million, regions, required adjusted to $XXX earnings cash Michael the plan thereby end of XX%, expected to Return of expected share. be call. to flow phase capital for comp $X.XX related back invested Let's Capital EBITDA of the adjusted QX offer reduced expected is portion full-year the XXXX. XX% to $XXX approximately diluted expenditures the investments respectively, geographic about and about is that to morning’s The over services services for to expects XXXX
