Welcome to the Q2 2021 Frank's International N.V. Earnings Conference Call. My name is Vanessa, and I'll be your operator for today's call. [Operator Instructions] Thank you, so much for standing-by. I will now turn the call over to Melissa Cougle.

Good morning, and welcome to the Frank's International conference call to discuss our second quarter results. Our speakers today, as shown on slide 2 of the earnings presentation, are Mike Kearney, Chairman, President and Chief Executive Officer; and myself, Melissa Cougle, Senior Vice President and Chief Financial Officer. A presentation has been posted on our website that we will refer to throughout this call. If you'd like to view this presentation, please go to the Investors section of our corporate website at franksinternational.com. Before we begin commenting on our second quarter results, there are a few legal items that we would like to cover on slides 3 and 4. First, remarks made by company representatives may refer to or contain forward-looking statements. Such remarks are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such statements speak only as of today's date, and the company assumes no responsibility to update any forward-looking statements as of any future date. The company has included in its SEC filings cautionary language identifying important factors that could cause actual results to be materially different from those set forth in any forward-looking statements. A more complete discussion of these risks is included in the company's SEC filings, which may be accessed on the SEC's website or on our website at franksinternational.com. Please note that any non-GAAP financial measures discussed during this call are defined and reconciled to the most directly comparable GAAP financial measure in our second quarter 2021 earnings release. I will now turn the call over to Mike, who will give some financial and operational highlights from our second quarter and an update on our merger with Expro Group, after which I will review the financial performance details. We will not be hosting a question-and-answer session on today's call, although we encourage our analysts and investors to please reach out with any follow-ups.

Thank you, Melissa. We appreciate everyone joining us for the call today. Turning to slide 5. We delivered solid second quarter results, with adjusted EBITDA increasing 85% sequentially. Total revenue also improved 14% from the prior quarter. Our profitability has continued to improve each quarter, since we initiated our profitability improvement plan. These actions, as well as our general business recovery, resulted in adjusted EBITDA margins of 12%, which are the highest margins achieved since the beginning of 2016. Customer activity levels have continued to increase across all of our segments and geographies, starting with revenue growth of 8% sequentially in our Tubular Running Services segment. In our Tubular segment, revenue increased 42% sequentially, with strong tubular deliveries and higher drilling tool activity, including an international tubular delivery. Although, we experienced a pullback in our Tubular segment in the first quarter, we did see the expected improvements in both domestic and international tubular deliveries in the second quarter and believe the second half of the year will bring more steady progress, barring any unplanned delays in deliveries. In our Cementing Equipment segment, revenue increased 15% sequentially, due to improvements in the Gulf of Mexico and the execution of our international growth strategy, which included additional activity in Asia Pacific and the Caribbean. We continue to contend with the challenges brought about by COVID-19. As previously communicated, we've been able to successfully adapt and deliver our services in a safe manner for our customers. And once again, we experienced no disruptions from COVID this past quarter. We continue to monitor the situation to ensure we are keeping our employees safe, while delivering exemplary service to our customers. In spite of our significantly improved operating results, we still are incurring additional costs related to COVID travel protocols and restrictions, placed on our…

Thank you, Mike. Referring to slide 9. During the second quarter, revenue increased 14% sequentially showing strong growth. We experienced improvements across all segments and regions during the quarter with increasing activity levels globally and improved penetration of our newer product lines. The company was able to translate these increases into significantly improved profitability with adjusted EBITDA of $12.4 million, an increase of 85% from the prior quarter. This strong performance is due to Frank's historically high operating leverage with additional benefit from our cost improvements made and the adoption of higher-margin technology packages. Turning to slide 10. Our Tubular Running Services segment, second quarter revenue totaled $71.9 million compared to $66.3 million in the prior quarter. Higher activity levels across regions drove the sequential improvement with several rig start-ups that occurred during the first quarter now seeing a full quarter of revenue. Segment adjusted EBITDA totaled $9.8 million or 14% of revenue in the second quarter compared to $8.1 million or 12% of revenue in the prior quarter. We see continued incremental improvement in this segment in the second half of the year. In our Tubular segment as presented on slide 11, second quarter revenue totaled $16.6 million compared to $11.7 million in the prior quarter increasing 42% sequentially with a couple of significant tubular deliveries occurring during the quarter and over 25% growth in our Drilling Technologies business, which is seeing revenue expand past pre-COVID levels. Segment adjusted EBITDA totaled $4.1 million or 25% of revenue in the second quarter compared to $600,000 or 5% of revenue in the prior quarter. The increase in profitability pertained largely to product mix changes as well as the tubular delivery during the first quarter that carried higher product costs. Concluding segment overviews on slide 12. Cementing Equipment revenue for the second…

Thank you, Melissa. Before we close out today's call, I would like to reiterate a few key points. First, we are very excited about our planned combination with Expro Group, which is expected to close by the end of the third quarter. The teams of both respective companies are dedicated to creating one of the strongest oilfield service companies in the industry and providing some of the most innovative solutions to our customers globally Second, Frank expects to experience additional improvement in the second half of the year, as we maintain a strong line of sight on additional rig deployments and project start-ups. Finally, we will continue to focus on operational execution, capital discipline and cost reduction efforts, which has enabled us to maintain one of the strongest balance sheets in the oilfield services space. This enviable position puts the new combined company on solid footing as it progresses through the integration process and positions itself for future growth and expansion. As we approach the closing of the Expro merger, I would like to reiterate my continued thanks to all of our employees for their hard work and dedication to the Frank's organization. Your unselfish drive to excel, even through the difficulties brought about by COVID has enabled our organization to stay focused on providing the absolute, best service quality for our customers and safety for our employees. We look forward to updating you on our progress in the near future as a combined entity. Many thanks to everyone on the call, for your continued interest in Frank's. We hope you enjoy the rest of your day. Goodbye.

Thank you. Ladies and gentlemen, this concludes our conference. We thank you for participating. You may now disconnect. End of Q&A: