ProFrac Holding Corp. Stock Price, News & Analysis

ProFrac Holding Corp. (NASDAQ: PFHC, ACDC) has scheduled its first quarter 2023 financial results announcement for May 10, 2023, at 11:00 a.m. Eastern / 10:00 a.m. Central. The call will be accessible via phone or online. For those unable to attend, a replay will be available until May 17, 2023. The company, founded in 2016, focuses on energy services, providing well stimulation and proppants production to the oil and gas sector. ProFrac aims to reduce greenhouse gas emissions through innovative technologies while meeting hydraulic fracturing needs. Investors can find more information on their official site.

The Wilks Family, the largest shareholder of ProFrac Holdings Corp. (NASDAQ: ACDC), released an open letter to shareholders on April 12, 2023. They express confidence in ProFrac's strategic vision and highlight the company's leadership in fleet profitability. The family announced their exchange of Class B shares for Class A shares, aimed at streamlining ProFrac's corporate structure by eliminating the Up-C structure. This change is expected to reduce compliance costs and enhance the company’s chances for index inclusion, potentially attracting more investors. Additionally, recent open market purchases by the Wilks family and Board members total 927,995 shares, reflecting their commitment to ProFrac's future. The family encourages ProFrac to present a plan for returning capital to shareholders and expresses optimism for the company’s growth and innovation.

ProFrac Holding Corp. (NASDAQ: ACDC) reported strong financial results for Q4 and FY 2022, achieving total revenue of $2.4 billion, a 216% year-over-year increase. Net income rose to $342.7 million, recovering from a loss of ($43.5) million in 2021. Adjusted EBITDA, excluding Flotek, surged 520% to $835.5 million. Q4 revenue was $794.1 million, up 14% sequentially, although net income declined 17% to $116 million. The company closed several acquisitions, including Producers Service Holdings. Challenges include lower commodity prices affecting operational efficiency in 2023.

ProFrac Holding Corp. (NASDAQ: ACDC) has announced that it will report its 2022 fourth quarter financial results on March 21, 2023, ahead of a live conference call scheduled for 11:30 a.m. Eastern. Investors can join the call via phone or online. A replay will be available until March 28, 2023. Founded in 2016, ProFrac specializes in hydraulic fracturing and aims to reduce greenhouse gas emissions through innovative technologies. The company serves leading upstream oil and gas firms in North America.

ProFrac Holding Corp. (NASDAQ: ACDC) has completed its acquisition of Performance Proppants for approximately $475 million, enhancing its vertical integration in the Haynesville region. This acquisition positions ProFrac as the largest in-basin proppant producer in North America, with four mines and a production capacity of 10.4 million tons per year. The company plans to improve operational efficiency and reduce completion costs for customers. Additionally, ProFrac has increased its ABL Credit Facility from $280 million to $400 million, borrowing $298 million for this acquisition while maintaining $79 million in availability.

ProFrac Holding Corp. (NASDAQ: ACDC) announced the completion of its acquisitions of REV Energy Holdings, LLC and Producers Services Holdings LLC for a total of approximately $175 million. The REV acquisition involves $140 million in transaction value, funded by $70 million in Class B shares and seller financing. The Producers deal is valued at $35 million, with half paid in Class A shares. These acquisitions enhance ProFrac's operational footprint in the Rockies, Bakken, and Northeast, adding six frac fleets capable of 404,500 hydraulic horsepower and expected to boost earnings and cash flow in 2023.

ProFrac Holding Corp. (NASDAQ: ACDC) has completed the acquisition of Monarch Silica's sand mining operations in the Eagle Ford and announced agreements to acquire REV Energy Holdings for $140 million and Performance Proppants for $475 million. These transactions aim to enhance ProFrac's pressure pumping capabilities and vertical integration strategy, potentially increasing capacity and efficiency. While the acquisitions are expected to be accretive to earnings, the company must navigate funding risks and regulatory approvals for successful completion.

ProFrac Holding Corp. (NASDAQ: ACDC) announced an agreement to acquire Monarch Silica's Eagle Ford sand mining operations, expected to close by the end of 2022. This acquisition supports ProFrac's vertical integration strategy, enhancing access to quality local proppant in the region. Monarch's production capacity is projected to reach nearly 4 million tons annually by Q1 2023, allowing ProFrac to bundle internally sourced proppant across its active fleets. The deal reflects ProFrac's growth in the energy sector and commitment to operational efficiency.