Quintana Energy Services Provides Preliminary Fourth Quarter 2018 Results

Quintana Energy Services Inc. (NYSE: QES) (“QES” or the “Company”) today announced preliminary fourth quarter 2018 results.

Fourth quarter 2018 revenue is expected to range between $158.1 million to $161.3 million, fourth quarter 2018 net loss is expected to range between $(1.8) million to $(1.5) million¹ and fourth quarter 2018 Adjusted EBITDA⁽¹⁾ is expected to range between $13.2 million to $14.5 million. In the fourth quarter, QES weathered a tough macro environment and is expecting to record a 6% sequential increase in revenue, a 31% sequential decrease in net loss and an 8% sequential increase in Adjusted EBITDA⁽²⁾.

Rogers Herndon, QES President and Chief Executive Officer, stated, “I’m pleased to report that revenue increased sequentially at three of our four segments despite the market headwinds experienced in the fourth quarter. The sequential increase in revenue was largely driven by increased utilization in our Directional Drilling segment, and increased utilization and stages pumped in our Pressure Pumping segment, offset by reduced pricing driven by market dynamics. The sequential decrease in net loss and increase in Adjusted EBITDA was largely driven by improved results in our Directional Drilling segment.

“Additionally, we deployed two incremental large diameter coiled tubing units and executed on our previously announced Wireline segment reorganization late in the fourth quarter and believe the benefits of this reorganization will prove out in the first quarter of 2019. We will discuss our results and market outlook in more detail when we release earnings on March 6, 2019.”

QES will release actual fourth quarter 2018 and full year financial results on March 6, 2019, after the market closes. The Company has scheduled a conference call to discuss its financial results on Thursday, March 7, 2019, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).

About Quintana Energy Services

QES is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies operating in both conventional and unconventional plays in all of the active major basins throughout the U.S. The Company’s primary services include: directional drilling, pressure pumping, pressure control and wireline services. The Company offers a complementary suite of products and services to a broad customer base that is supported by in-house manufacturing, repair and maintenance capabilities. More information is available at www.quintanaenergyservices.com.