Cactus, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the Cactus Q4 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1 on your telephone. During the Q&A session, we ask that you please limit yourself to one question and one follow-up. If you require any further assistance, please press star zero. I would now like to hand the conference over to your speaker today, Mr. John Fitzgerald. Please go ahead, sir.

Thank you, and good morning, everyone. We appreciate your participation in today's call. The speakers on today's call will be Scott Bender, our Chief Executive Officer, and Steve Tadlock, our Chief Financial Officer. Also joining us today are Joel Bender, Senior Vice President and Chief Operating Officer, Stephen Bender, Vice President of Operations, and David Isaac, our General Counsel and Vice President of Administration. Yesterday, we issued our earnings release, which is available on our website. Please note that any comments we make on today's call regarding projections or our expectations for future events are forward-looking statements covered by the Private Securities Litigation Reform Act. Forward-looking statements are subject to a number of risks and uncertainties. many of which are beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations. We advise listeners to review our earnings release and the risk factors discussed in our filings with the SEC. Any forward-looking statements we make today are only as of today's date and we undertake no obligation to publicly update or review any forward-looking statements. In addition, during today's call, we will reference certain non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release. With that, I will turn the call over to Scott.

Thanks, John, and good morning to everyone. The year in which the U.S. rate count was down 55% year over year, CACTUS showcased its ability to outperform by recording adjusted EBITDA margins of nearly 35%, and generating free cash flow of 117 million. We were able to offset a portion of the general activity decline by growing our market share from 31% at year end 2019 to a record 43% by the fourth quarter of 2020. We were further pleased to see overall activity begin to improve during the fourth quarter, a trend which continued in early 2021. We ended the year with no bank debt and $289 million in cash. So in summary, fourth quarter revenues were just above $68 million. Adjusted EBITDA was approximately $20 million. Adjusted EBITDA margins were 29%. Our cash balance increased to nearly $289 million. And we paid a quarterly dividend of $0.09 per share. Now I'll turn the call over to Steve Tadlock, our CFO, who will review our financial results. And following his remarks, I'll provide some thoughts on our outlook for the near term before opening the lines for Q&A. Steve?