Welcome to our dedicated page for Propetro Holding news (Ticker: PUMP), a resource for investors and traders seeking the latest updates and insights on Propetro Holding stock.
ProPetro Holding Corp. (NYSE: PUMP) is a Midland, Texas-based provider of completion and power services to upstream oil and gas companies developing North American unconventional oil and natural gas resources. Its news flow reflects both its traditional hydraulic fracturing and completion operations and the expansion of its PROPWR℠ power services platform.
Readers of this page can follow company announcements on quarterly financial and operational results, including revenue trends, net income or loss, adjusted EBITDA, capital expenditures and liquidity metrics. Earnings releases frequently include management commentary on market conditions in the Permian Basin, frac fleet utilization, contract coverage for hydraulic horsepower and the performance of Tier IV dual-fuel and FORCE® electric-powered fleets.
News items also highlight PROPWR developments, such as the inaugural 10-year contract for 80 megawatts of power generation capacity for a distributed oilfield microgrid, a long-term 60 megawatt contract with a hyperscaler data center operator in the Midwest region of the United States, and a contract to supply power to a subsidiary of Coterra Energy Inc. in the New Mexico portion of the Permian Basin. These releases describe turnkey power solutions, use of in-field gas, hybrid battery and natural gas generator systems, and growth in PROPWR’s contracted and ordered megawatt capacity.
Additional updates include announcements of earnings conference calls, leadership changes such as the appointment of a new Chief Financial Officer, and capital allocation decisions like share repurchase program extensions. Investors and analysts can use this news feed to monitor ProPetro’s operational strategy, contract wins, power equipment orders and financing arrangements that shape the company’s role in completion services and gas-to-power solutions.
ProPetro Holding Corp. (NYSE: PUMP) reported third quarter 2020 financial results, showing revenue of $133.7 million, up from $106.1 million in Q2. However, net loss increased to $29.2 million or $0.29 per diluted share, compared to a loss of $25.9 million in the prior quarter. Adjusted EBITDA fell to $17.4 million from $25.4 million. Effective utilization improved to 8.5 fleets from 4.0 fleets. Free cash flow was $16.9 million, while liquidity reached $85.9 million.
ProPetro Holding Corp. (NYSE: PUMP) will release its third quarter 2020 earnings on November 2, 2020, after market close. A conference call is scheduled for November 3, 2020, at 8:00 AM CT to discuss these results. U.S. callers can dial 1-844-340-9046, while international callers may use 1-412-858-5205. The call will also be available via webcast at www.propetroservices.com. A replay will be accessible for a week post-call, using access code 10147385.
ProPetro Holding Corp. (NYSE: PUMP) announced the appointment of David Schorlemer as Chief Financial Officer effective October 23, 2020. Schorlemer brings over 25 years of experience in finance and management from his previous role at Basic Energy Services. CEO Phillip Gobe welcomed Schorlemer, emphasizing his expertise in public company governance as essential for maintaining competitiveness. The Company also acknowledged the contributions of former CFO Darin Holderness in navigating challenging times, establishing a strong financial foundation.