Welcome to our dedicated page for ProFrac Holding news (Ticker: ACDC), a resource for investors and traders seeking the latest updates and insights on ProFrac Holding stock.
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) 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.