The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Keith MacKey - RBC Capital Markets, Research Division - Analyst
: So Celine, like how you pointed out that Q1 essentially matched the first quarter of 2020 from a -- certainly from a revenue and EBITDA standpoint,
I know there's been some differences in the mix between the Canadian and U.S. rig count across those 2 quarters. But what else is there that might
maybe suggest the underlying EBITDA generation potential of the business has changed versus 2 years ago?
Question: Keith MacKey - RBC Capital Markets, Research Division - Analyst
: Got it. And how about the international margins in that context? Cash gross margins in that segment pretty strong this quarter. How should we
be thinking about that going forward?
Question: Keith MacKey - RBC Capital Markets, Research Division - Analyst
: Got it. And one final one. Certainly, a strong cash balance and have had so for quite some time. With industry activity improving, margins expanding,
when maybe -- does cash build take a backseat to some other uses of cash, whether it be increased shareholder returns, acquisition, organic growth
or other?
Question: Keith MacKey - RBC Capital Markets, Research Division - Analyst
: Got it. Maybe just one follow-up on that. If I were to ask it a slightly different way. Do you have a minimum cash balance in mind? Or is it, as you
say, just an output of how the business is going?
Question: John Gibson - BMO Capital Markets Equity Research - Analyst
: Congrats on strong quarter. Just on your revenue per day number, can you maybe quantify how much of the increase is due to pricing increases
versus same market share or product development?
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APRIL 29, 2022 / 3:00PM, PSI.TO - Q1 2022 Pason Systems Inc Earnings Call
Question: John Gibson - BMO Capital Markets Equity Research - Analyst
: Okay. Great. And I'm going to stick with pricing here. In previous quarters, you kind of spoke to it still being below pre-pandemic levels or where
are we at now relative to pre-pandemic or even relative to prior peak activity levels?
Question: John Gibson - BMO Capital Markets Equity Research - Analyst
: Got it. And sorry to keep harping on this. But we're hearing from some of your drilling peers that they can push pricing from here despite pretty
significant increases lately. Is this also the case for Pason?
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