Investor Presentaiton
Clean Balance Sheet & Low Capital Intensity
Balance Sheet & Capital Summary
June 30, 2020 cash balance of $270.7 million
Expect 2020 to be a year of meaningful cash
generation
Ability to quickly scale back growth capital
expenditures
■Modest maintenance capex requirements
■ Full year 2020 net capital expenditure guidance of
$20 to $25 million
■Majority of capital expenditures committed
to before March of 2020
■ Anticipate annualized run-rate of
approximately $10 million by year-end
Adjusted EBITDA (1) - Net Capital Expenditures (2) ($ in
millions)
$14.8
$81.4
2016
2017
$173.1
$144.4
$140.1
2018
2019
LTM Q2 2020
Net Capital Expenditures (2) ($ in millions)
$68.2
$55.9
$43.7
$30.7
$17.4
2016
2017
2018
2019
LTM Q2 2020
Strong balance sheet with track record of cash flow generation
EBITDA and Adjusted EBITDA are non-GAAP financial measures. Cactus defines Adjusted EBITDA as EBITDA excluding (gain) loss on debt extinguishment, stock-based compensation, non-cash adjustments for the revaluation of the liability related to the tax receivable
agreement, and equity offering expenses. The Appendix at the back of this presentation contains a reconciliation of EBITDA and Adjusted EBITDA to net income, the most comparable financial measure calculated in accordance with GAAP.
Source: Company filings.
1)
2)
Net Capital Expenditures equals net cash flows from investing activities.
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