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ProFrac Holding Corp. reports energy-services developments tied to hydraulic fracturing, proppant production, completion services and complementary products for upstream oil and natural gas companies working North American unconventional resources. The company describes itself as technology-focused and vertically integrated, with reported activity in Stimulation Services, Proppant Production, Manufacturing and Flotek.
Recurring company news includes quarterly and annual results, segment revenue and Adjusted EBITDA commentary, business optimization and capital-expenditure updates, and activity levels in U.S. onshore completions. ProFrac also reports technology initiatives such as closed-loop fracturing with Seismos, where real-time in-well measurements and surface actuation are used to optimize frac stages.
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.
ProFrac Holding Corp. (NASDAQ: ACDC) reported a strong third quarter for 2022, with total revenue reaching $696.7 million, an 18% increase from the previous quarter. Net income rose 105% sequentially to $143.4 million. Adjusted EBITDA excluding Flotek grew 23% to $267.2 million, reflecting operational efficiency. The company consolidated Flotek's results, contributing $46.9 million in revenue but impacting EBITDA negatively. Following the recent acquisition of U.S. Well Services, ProFrac anticipates further growth in revenue and fleet expansion.