Basic Energy Services, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Third Quarter of 2018; Provides Tax Rate Guidance for the Full Year of 2018
For the six months, the company reported total revenue of $488,034,000 as compared to $395,315,000 for the same period last year. Loss before income taxes was $70,366,000 as compared to $62,193,000 for the same period last year. Net loss was $70,585,000 as compared to $62,567,000 for the same period last year. Basic and diluted loss per share was $2.67 as compared to $2.41 for the same period last year. EBITDA was $15,032,000 as compared to $7,447,000 for the same period last year. Adjusted EBITDA was $50,261,000 as compared to $21,501,000 for the same period last year. Capital expenditures: Property and equipment was $31,698,000 as compared to $33,745,000 for the same period last year.
For he third quarter of 2018, revenues will be flat to slightly higher.
For the full year of 2018, operating tax benefit rate is expected to be around 20%.