Cactus, Inc.

Good day, and thank you for standing by. Welcome to the CACTUS fourth quarter 2021 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 the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, John Fitzgerald, Director of CorpDev and IR. Please go ahead.

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, Steven Bender, Vice President of Operations, and David Isaac, our General Counsel and Vice President of Administration. Please note that any comments we make on today's call Regarding projections or 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. Reconciliation to these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release. And with that, I will turn it over to Scott.

Thanks, John, and good morning to everyone. Our business improved materially during the four quarters. and I was particularly proud of the returns achieved in our product business line in light of supply chain challenges. As mentioned on our last earnings call, we made the conscious decision to proactively add inventory and people, believing that activity gains were on the horizon. As a result, we are now well positioned to capitalize on further growth in our industry. Some fourth quarter highlights include revenue increased 13% sequentially, outpacing the gain in the U.S. land rig count. Adjusted EBITDA improved by 14% sequentially. Adjusted EBITDA margins were 28%, up 50 basis points versus the third quarter. We paid a quarterly dividend of $0.10 per share, and we ended the quarter with $302 million in cash and no debt. Following the quarter, due to our financial strength and performance through the cycle, our board increased the quarterly dividend by 10% to $0.11 per share. I now turn the call over to Steve Tadlock, our CFO, who will review our financial results. Following his remarks, I'll provide some thoughts on our outlook for the near term before opening the lines for Q&A.