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ProPetro Holding Corp. (NYSE: PUMP) reported robust financial results for Q1 2024, with total revenue reaching $406 million, a 17% increase from the prior quarter. The company posted a net income of $20 million, compared to a net loss in the previous quarter, along with an adjusted EBITDA of $93 million, showing a 45% increase. ProPetro also secured a long-term contract with ExxonMobil for electric-powered hydraulic fracturing fleets, expanded its share repurchase program by $100 million, and repurchased 3.0 million shares. The company generated $75 million in net cash from operating activities and $41 million in Free Cash Flow. Additionally, ProPetro aims to maintain low-end guidance for capital expenditures in 2024 and expects strong demand for its services and equipment.
ProPetro Holding Corp. (NYSE: PUMP) has signed a three-year Agreement to provide electric hydraulic fracturing services to ExxonMobil in the Permian Basin. The Agreement includes the deployment of FORCESM electric fleets, emphasizing sustainability and operational excellence. ProPetro aims to deliver innovative, cost-effective, and environmentally friendly energy solutions, showcasing a commitment to high-quality, low-emission services.
