Basic Energy Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenues of $235,266,000 against $155,526,000 a year ago. Operating loss was $10,386,000 against $93,020,000 a year ago. Loss before income taxes was $20,574,000 against income before income taxes of $141,941,000 a year ago. Net loss was $20,262,000 or $0.78 basic and diluted per share against net profit of $141,941,000 or $3.15 diluted per share a year ago. EBITDA was $21,051,000 against $225,442,000 a year ago. Adjusted EBITDA was $22,485,000 against adjusted LBITDA of $5,234,000 a year ago. Adjusted net loss was $14.4 million or $0.55 per share. Capital expenditures: property and equipment was $15,071,000 against $9,782,000 a year ago.

For the year, the company reported total revenues of $864,041,000 against $547,497,000 a year ago. Operating loss was $61,350,000 against $296,092,000 a year ago. Loss before income taxes was $98,352,000 against $127,256,000 a year ago. Net loss was $96,674,000 or $3.72 basic and diluted per share against $123,373,000 or $2.94 diluted per share a year ago. EBITDA was $51,278,000 against $187,574,000 a year ago. Adjusted EBITDA was $59,806,000 against adjusted LBITDA of $29,153,000 a year ago. Adjusted net loss was $59.2 million or $2.33 per share. Capital expenditures: property and equipment was $63,366,000 against $32,689,000 a year ago.

Basic currently anticipates maintenance capital expenditures for 2018 to be $95 million, including $40 million of capital leases.

The company expects the exit rate for first quarter 2018 EBITDA to be higher than any run rates company experienced in 2017.

The company also anticipates that revenues for the first half of 2018 are likely to be 7% to 10% higher than the second half of 2017.