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Liberty Oilfield Services (LBRT) CEO Chris Wright on Q2 2018 Results - Earnings Call Transcript

Aug. 02, 2018 4:04 PM ETLiberty Energy Inc. (LBRT)1 Comment
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Liberty Oilfield Services (NYSE:LBRT) Q2 2018 Earnings Conference Call August 2, 2018 10:00 AM ET


Chris Wright - Chief Executive Officer

Michael Stock - Chief Financial Officer

Ron Gusek - President


Sean Meakim - JPMorgan

Jud Bailey - Wells Fargo

Connor Lynagh - Morgan Stanley

George O'Leary - Tudor, Pickering and Holt

Jon Hunter - Cowen


Good morning and welcome to the Liberty Oilfield Services Second Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

Some of our comments today may include forward-looking statements, reflecting the company’s view about future prospects, revenues, expenses or profits. These matters involve risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These statements reflect the company’s beliefs based on the current conditions that are subject to certain risks and uncertainties that are detailed in the company’s earnings release and other public filings.

Our comments today also include non-GAAP financial and operational measures. These non-GAAP measures including EBITDA, adjusted EBITDA and pre-tax return on capital employed, are not a substitute for GAAP measures and may not be comparable to similar measures of other companies. A reconciliation of net income to EBITDA and adjusted EBITDA and the calculation of pre-tax return on capital employed, as discussed on this call, are presented in the company’s earnings release, which is available on its website.

I would now like to turn the conference over to Liberty’s CEO, Chris Wright. Please go ahead.

Chris Wright

Good morning, everyone, and thank you for joining us. I am quite proud to discuss with you today our second quarter 2018 results. Working together with our customers, the Liberty team drove average throughput to new all-time highs delivering record revenue, net income and adjusted EBITDA for the quarter. These results

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