U.S. Well Services Announces Second Quarter 2019 Financial and Operational Results
U.S. Well Services, Inc. - Class A (USWS)
Company Research
Source: GlobeNewswire
HOUSTON, Aug. 06, 2019 (GLOBE NEWSWIRE) -- U.S. Well Services, Inc. (the “Company”, “U.S. Well Services” or “we”) (NASDAQ: USWS) today reported second quarter 2019 financial and operational results. Second Quarter 2019 Highlights Deployed two new electric fleets in April and June, respectively, bringing total fleets to 13, including four electric and nine conventional fleets, with an average of 10.4 fully-utilized equivalent fleets for the quarterTotal revenue increased 8% sequentially to $151.4 million from $139.8 million in the first quarter of 2019Net loss attributable to the Company of $21.5 million compared to net loss of $22.3 million in the first quarter of 2019Adjusted EBITDA(1) increased 52% to $42.6 million compared to $28.0 million in the first quarter of 2019Reported annualized Adjusted EBITDA per fully-utilized fleet of $16.4 million compared to $11.4 million for the first quarter of 2019(2)Completed a $55.0 million convertible preferred equity offering in May to fu
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