Propetro Holding Stock Price, News & Analysis

ProPetro Holding Corp. (NYSE: PUMP) has announced the acquisition of its Coiled Tubing assets by STEP Energy Services (USA) Ltd. ProPetro opted for payment in cash and shares in STEP, reflecting confidence in STEP's growth potential. CEO Sam Sledge stated that this strategic move aims to optimize ProPetro's asset portfolio and enable the coiled tubing business to thrive under STEP's leadership. The company remains committed to driving sustainable long-term growth and enhancing shareholder value.

ProPetro Holding Corp. (NYSE: PUMP) has signed a long-term lease for two electric frac fleets, set to be delivered in Q3 2023. CEO Sam Sledge noted this move aligns with their fleet transition strategy and responds to rising demand for electric solutions in the Permian Basin. The new fleets aim to reduce costs and greenhouse gas emissions for clients while enhancing ProPetro's competitiveness. CFO David Schorlemer highlighted the agreement's capital-efficient financing and an option to purchase the fleets post-lease, anticipating significant free cash flow and lower capital expenditures in fiscal 2023.

ProPetro Holding Corp. (NYSE: PUMP) reported a 11% increase in second quarter 2022 revenue to $315 million, compared to $283 million in Q1 2022. However, the company faced a net loss of $33 million, or $0.32 per diluted share, mainly due to a $57 million impairment expense. Adjusted EBITDA rose 13% to $76 million, driven by improved operational performance. The company also achieved positive free cash flow of approximately $0.6 million, a significant recovery from negative free cash flow of $39 million in Q1. Looking ahead, ProPetro anticipates capital expenditures between $300 million and $350 million for 2022.

ProPetro Holding Corp. (NYSE: PUMP) will release its second quarter 2022 earnings on August 2, 2022, after trading closes. The company will host a conference call on August 3, 2022, at 8:00 AM CT to discuss the results. U.S. callers can reach the call at 1-844-340-9046, while international callers can dial 1-412-858-5205. A replay will be available for a week after the call. For more details, visit www.propetroservices.com.

ProPetro Holding Corp. (NYSE: PUMP) reported a 15% revenue increase to $283 million for Q1 2022, up from $246 million in Q4 2021. The company achieved net income of $12 million ($0.11 per diluted share), rebounding from a net loss of $20 million in the prior quarter. Adjusted EBITDA surged 81% to $67 million, reflecting improved fleet utilization and pricing. However, operational challenges persisted, with negative free cash flow of $39 million. CEO Sam Sledge highlighted margin improvements and a focus on capital-efficient growth despite tightening market conditions.

ProPetro Holding Corp. announced an extension of its asset-based loan facility to a five-year term, reducing commitments from $300 million to $150 million. The amended facility extends maturity from 2023 to 2027 and includes updated advance formulas, enhancing availability and improving pricing. No advances are currently outstanding. CFO David Schorlemer expressed satisfaction with the support from major financial institutions such as Barclays, JPMorgan Chase, Goldman Sachs, and Bank of America, emphasizing capital efficiency and strong liquidity for future operations.

ProPetro Services, Inc. has entered into an Amended and Restated Pressure Pumping Services Agreement with Pioneer Natural Resources USA, Inc., effective January 1, 2022, until December 31, 2022, with potential extension through 2023. The agreement updates performance standards and pricing, focusing on hydraulic fracturing services in the Permian Basin, resulting in improved completions performance. ProPetro's CEO highlights the importance of the partnership, while Pioneer emphasizes continuous performance improvement.

ProPetro Holding Corp. (NYSE: PUMP) announced its first quarter 2022 earnings release scheduled for Tuesday, May 3, 2022, after trading hours. The company will host a conference call on Wednesday, May 4, 2022, at 8:00 AM Central Time to discuss the results. U.S. callers can join by dialing 1-844-340-9046, while international participants can call 1-412-858-5205. A replay of the call will be available for one week. ProPetro is based in Midland, Texas, providing pressure pumping and related services in the North American oil and gas sector.

ProPetro Holding Corp. (NYSE: PUMP) reported a net loss of $20 million in Q4 2021, compared to a $5 million loss in Q3 2021. Revenue decreased 2% to $246 million, while Adjusted EBITDA fell 12% to $37 million. Despite a reduced fleet utilization of 12.5 compared to 13.8 fleets in Q3, the company generated positive free cash flow of $26 million. Total liquidity stood at $169 million. CEO Sam Sledge emphasized the company's focus on operational excellence and a favorable market outlook for 2022.