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ProPetro Holding Corp. reports news about its completion-services business and the expansion of its PROPWR power generation division. The company provides premium completion services to upstream oil and gas operators developing North American unconventional resources, with a history of hydraulic fracturing activity centered on the Permian Basin.
Recurring updates include quarterly operating results, fleet utilization, FORCE electric fleet execution, gas-to-power solutions for oil and gas, data center and industrial customers, equipment purchases, lease and debt financing, convertible note activity, and supplier or customer agreements supporting power generation capacity.
ProPetro (NYSE: PUMP) reported strong Q1 2025 financial results with total revenue of $359 million, up 12% from the previous quarter. The company achieved a net income of $10 million ($0.09 per diluted share), compared to a net loss of $17 million in Q4 2024.
Key highlights include:
- Adjusted EBITDA of $73 million (20% of revenue)
- Free Cash Flow of $22 million
- Increased PROPWR power generation capacity from 140 to 220 megawatts
- Secured letters of intent for 75 megawatts with two Permian Basin operators
The company updated its 2025 guidance with capital expenditures between $295-345 million, reduced by 9%. Operating fleet size is expected to decrease to 13-14 active hydraulic fracturing fleets in Q2 2025 due to oil price declines. About 50% of ProPetro's active hydraulic horsepower operates under long-term contracts, including dual-fuel and electric-powered fleets.
ProPetro Holding Corp. (NYSE: PUMP) has scheduled its first quarter 2025 earnings release for Tuesday, April 29, 2025, before market opening. The company will host a conference call on the same day at 8:00 AM Central Time to discuss the results.
Investors can access the conference call through multiple channels: U.S. callers can dial toll-free at 1-844-340-9046, while international participants can dial 1-412-858-5205. The call will also be available via webcast on the company's website. A replay will be accessible for one week following the call through various numbers for U.S., Canadian, and international callers using the access code 1778575.
ProPetro Holding Corp. (NYSE: PUMP) announced that Chief Financial Officer David Schorlemer will depart effective March 3, 2025. During his 4.5-year tenure, Schorlemer led several accretive transactions, implemented a share repurchase program, and strengthened the company's finance, accounting, and technology functions.
Chief Accounting Officer Celina A. Davila, who was appointed in November 2023, will serve as interim principal financial officer until a new CFO is appointed. CEO Sam Sledge expressed confidence in the company's ability to maintain high-level execution during this transition period, citing the strong team built under Davila and Schorlemer's leadership.
ProPetro (NYSE: PUMP) reported financial results for Q4 and full year 2024. Full-year revenue decreased 11% to $1.4 billion, with a net loss of $138 million compared to net income of $86 million in 2023. Adjusted EBITDA declined 30% to $283 million.
The company launched PROPWR℠, ordering 140 megawatts of power generation equipment, and completed the AquaProp℠ acquisition. They repurchased 7.2 million shares in 2024, with total repurchases of 13.0 million shares since May 2023. Capital expenditures reduced by 57% to $133 million.
Q4 2024 revenue was $321 million, down from $361 million in Q3, with a net loss of $17 million. The company expects to run 14-15 frac fleets in Q1 2025 and projects 2025 capital expenditures between $300-400 million.
ArcBest (ARCB) reported Q4 2024 revenue of $1.0 billion, down from $1.1 billion in Q4 2023, with net income decreasing to $29.0 million ($1.24 per diluted share) from $48.8 million ($2.01 per diluted share). Full-year 2024 revenue was $4.2 billion versus $4.4 billion in 2023.
The Asset-Based segment saw Q4 revenue decline 7.6% to $656.2 million, with tonnage per day decreasing 7.3% and operating income falling to $52.3 million. The Asset-Light segment reported Q4 revenue of $375.4 million, down 9.2%, with an operating loss of $1.6 million.
The company returned over $85 million to shareholders through share repurchases and dividends in 2024. Total net capital expenditures were $288 million, including $160 million for revenue equipment and $85 million in real estate.
ProPetro Holding Corp. (NYSE: PUMP) has announced its upcoming fourth quarter 2024 earnings release, scheduled for Wednesday, February 19, 2025, before market opening. The company will host a conference call at 8:00 AM Central Time on the same day to discuss the results.
Investors can access the conference call through multiple channels: U.S. callers can dial toll-free at 1-844-340-9046, while international callers can use 1-412-858-5205. The call will also be available via webcast on ProPetro's website. A replay will be accessible for one week following the call, with specific access codes provided for U.S., Canadian, and international callers.
ProPetro Holding Corp. (NYSE: PUMP) has entered into a term contract to provide electric hydraulic fracturing services for a major Permian-focused oil and gas operator. CEO Sam Sledge announced that this contract marks the deployment of their fourth FORCE® electric frac fleet. ProPetro currently has four such fleets on term contracts, which require around 165 megawatts of mobile power generation equipment. The company emphasizes the efficiency and value delivered by these fleets to their customers. The announcement underscores ProPetro's strategy to build a profitable business and highlights the expected growth in mobile power demand for electric-powered hydraulic fracturing fleets. The company’s mobile power generation solutions business, ProPWR℠, is set to capitalize on these trends, benefiting from increased demand in the oil and gas sector and other industries, including AI data centers.
ProPetro (NYSE: PUMP) has announced the launch of ProPWR, a new subsidiary focused on mobile natural gas-fueled power generation. The company has placed an initial order for over 110 megawatts of power generation equipment, representing a $122 million investment. The equipment will serve multiple oilfield and industrial applications across the Permian Basin.
The investment will be funded through a combination of cash (up to $20 million in early 2025) and external financing. Equipment deliveries are scheduled between June 2025 and March 2026. ProPWR aims to support ProPetro's FORCE® electric-powered hydraulic fracturing fleets, which currently utilize approximately 140 megawatts of mobile power generation capacity, and plans to expand into non-oil and gas applications such as industrial projects and data centers.
ProPetro reported Q3 2024 financial results with total revenue of $361 million, up 1% from previous quarter. The company recorded a net loss of $137 million ($1.32 per diluted share), including a $189 million noncash impairment expense related to Tier II diesel-only equipment. Adjusted EBITDA was $71 million, representing 20% of revenue. The company repurchased 1.3 million shares during Q3, with total repurchases of 12.6 million shares since May 2023. Three FORCE® electric-powered hydraulic fracturing fleets are operational, with fourth and fifth deployments planned for year-end 2024 and early 2025.