Propetro Holding Stock Price, News & Analysis

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.

ProPetro Holding Corp. (NYSE: PUMP) announced that Phillip Gobe will transition from Executive Chairman to Non-Executive Chairman of the Board effective March 31, 2022. Gobe has been a Board member since July 2019, previously serving as CEO until August 2021. His leadership during challenging times, including the COVID-19 pandemic, positioned ProPetro for future success. Lead Independent Director Tony Best acknowledged Gobe's contributions and emphasized the company's strong executive team moving forward.

ProPetro Holding Corp. (NYSE: PUMP) is set to release its fourth quarter earnings on February 22, 2022, after market close. A conference call will occur on February 23, 2022, at 8:00 AM Central Time to discuss the results. U.S. participants can join via toll-free number 1-844-340-9046, while international callers should dial 1-412-858-5205. For those unable to attend, a replay will be available for one week. ProPetro operates in the oilfield services industry, catering to North American oil and gas exploration and production firms.

ProPetro Holding Corp. (NYSE: PUMP) has settled its SEC investigation without any monetary penalty. The settlement requires the company to cease and desist from specified violations of federal securities laws related to financial controls and disclosures. ProPetro emphasized its full cooperation with the SEC and highlighted remedial actions taken to improve internal policies and governance. All previously identified material weaknesses have been addressed, reinforcing the company's operational integrity. This resolution aims to strengthen ProPetro's corporate culture moving forward.