Cactus, Inc.

Good day and thank you for standing by. Welcome to the CACTUS Q1 2023 Earnings Conference Call. At this time, all participants are in listen only mode. After the presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message confirming that your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Alan Boyd, Director of Corporate Development and Investor Relations. Please go ahead, Alan.

Thank you, and good morning. We appreciate you joining us on today's call. Our speakers 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, TS, CEO of FlexDeal, and Will Marsh, 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. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release. With that, I'll turn the call over to Scott.

Thanks, Alan, and good morning to everyone. Before we commence our comments regarding the quarter, I want to take this opportunity to acknowledge some changes to our management team. Alan Boyd, who provided the introductions this morning, has joined us from Halliburton. as Director of Corporate Development and Investor Relations. Alan has an extensive background ranging from investment banking to working as a drilling engineer at ExxonMobil. He will be taking over for John, who's moving over to serve as CFO of Flex Steel. On behalf of our entire team, I'd like to thank John for his efforts leading our investor relations function as we matured as a public company and look forward to his continued success in the new role. The past few months have been incredibly active here at Cactus. We announced and closed the FlexDeal acquisition during the quarter, and our reported results for the quarter include one month of contribution from FlexDeal's business. On a standalone basis, Cactus would have once again set records for both quarterly revenue and adjusted EBITDA as U.S. well-head market share hit an all-time high. Consistent with the past, we'll walk through Cactus' results in detail, discussing product, rental, and field service. On a go-forward basis, we will report legacy cactus as the pressure control segment and flex steel as a spoolable technology segment, and our guidance will reflect how we intend to report results in the future. Note that we will continue to evaluate the reporting structure, particularly around corporate SG&A. Some highlights for the first quarter include revenue of $228 million, Adjusted EBITDA of $79 million. Adjusted EBITDA margins were nearly 35%. Wallhead market share was a record 43%. And we paid a quarterly dividend of $0.11 per share. And I'll 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. Steve?