ProFrac Holding Stock Price, News & Analysis

ProFrac Holding Corp. (NASDAQ: ACDC) is a technology-focused, vertically integrated energy services holding company that supports upstream oil and natural gas producers working in North American unconventional resource plays. According to the company’s public disclosures, ProFrac provides hydraulic fracturing, proppant production, related completion services, and complementary products and services to exploration and production (E&P) companies engaged in the development of unconventional oil and natural gas resources.

ProFrac operates through three primary business segments: Stimulation Services, Proppant Production, and Manufacturing, along with a category reported as Other Business Activities. The Stimulation Services segment operates mobile hydraulic fracturing fleets and auxiliary equipment that generate revenue by providing stimulation services to upstream customers. The Proppant Production segment supplies proppant used in fracturing operations, including a significant level of intercompany sales to ProFrac’s own stimulation operations. The Manufacturing segment supports the broader business by producing equipment and related components, also with a substantial intercompany revenue contribution. Other Business Activities include the results of Flotek Industries and Livewire Power, as described in the company’s financial reports.

Business model and vertical integration

Based on the company’s statements, ProFrac’s business model centers on delivering hydraulic fracturing and completion-related services while controlling key inputs through vertical integration. The Stimulation Services segment is a core revenue driver, with ProFrac highlighting its fleet of mobile hydraulic fracturing units and associated equipment. The Proppant Production segment provides proppant to both internal and external customers, and a notable portion of this segment’s revenue is generated through intercompany transactions with ProFrac’s own fleets. The Manufacturing segment contributes by supplying equipment and services that support ProFrac’s operations and customers.

The company describes itself as vertically integrated and technology-focused, emphasizing that it combines service delivery with control over proppant supply and manufacturing capabilities. This structure is intended to support operational efficiency, asset management, and responsiveness to changing market conditions in the onshore completions market.

Operations, segments, and related activities

In its financial updates, ProFrac provides segment-level information that illustrates how its operations are organized:

• Stimulation Services: Generates revenue from hydraulic fracturing services provided to upstream oil and natural gas companies. The company reports segment revenues and Adjusted EBITDA for this business, noting that it operates a fleet of mobile hydraulic fracturing units and auxiliary equipment.
• Proppant Production: Produces proppant for use in fracturing operations. Public disclosures indicate that a significant percentage of this segment’s revenue is intercompany, reflecting sales to ProFrac’s own stimulation fleets.
• Manufacturing: Provides manufacturing-related products and services that support ProFrac’s operations. This segment also records a high proportion of intercompany revenue.
• Other Business Activities: Includes the results of Flotek Industries and Livewire Power, which ProFrac identifies as part of its broader business activities.

ProFrac’s filings and press releases also discuss its use of non-GAAP financial measures such as Adjusted EBITDA, Free Cash Flow, and Net Debt, which management and other stakeholders use to assess financial performance, liquidity, and leverage. These measures are reconciled to the most directly comparable GAAP metrics in the company’s published materials.

Technology focus and partnerships

The company describes itself as technology-focused and innovation-driven in its energy services activities. In a joint announcement with Seismos, ProFrac highlighted a strategic partnership to deploy Closed Loop Fracturing across major U.S. basins. According to that announcement, ProFrac is working with Seismos to offer supervised and unsupervised closed-loop fracturing modes that use real-time subsurface data and preconfigured decision frameworks to adjust completion designs while a stage is active. ProFrac states that this approach is intended to enhance control, optimization, and stage-level accountability in fracturing operations.

ProFrac has also referenced its ProPilot platform in its financial communications, describing it as an automation system used in fracturing operations. The company reports that ProPilot has been deployed to all of its active fleets and is associated with improvements in automated fracturing operations and operating efficiency. These technology initiatives are presented by ProFrac as part of its effort to drive performance and optimization in completions.

Capital structure and liquidity management

ProFrac’s SEC filings and press releases describe several actions related to capital structure, liquidity, and financial flexibility. The company reports on its total debt, net debt, cash and cash equivalents, and liquidity, and has discussed steps to manage its balance sheet amid market headwinds. For example, ProFrac has disclosed amendments to its Alpine Term Loan Credit Agreement, including reductions in scheduled amortization payments and a deferral of certain leverage ratio tests. It has also reported issuances of senior secured floating rate notes due 2029, with proceeds intended to fund capital expenditures and for general corporate purposes.

In addition, ProFrac announced an underwritten public offering of its Class A common stock, registered on a shelf registration statement on Form S-3. The company has described the intended use of proceeds from this offering as including repayment of borrowings under its asset-based revolving credit agreement, potential investment opportunities, and working capital and other general corporate purposes. These actions are presented as part of ProFrac’s approach to enhancing liquidity and financial flexibility.

Market context and end customers

Across its public communications, ProFrac consistently states that its customers are upstream oil and natural gas companies engaged in the exploration and production of North American unconventional resources. The company’s services and products are positioned around supporting E&P operators in onshore completions, with a focus on hydraulic fracturing and related completion services. ProFrac’s partnership announcements reference work across major U.S. basins and engagement with large operators, although specific customer names are not detailed in the provided materials.

Use of non-GAAP measures

ProFrac devotes significant disclosure to explaining its use of non-GAAP financial measures. It defines Adjusted EBITDA as net income (loss) before interest expense, income taxes, depreciation, depletion and amortization, loss or gain on disposal of assets, stock-based compensation, and certain other specified charges. Free Cash Flow is defined as net cash provided by or used in operating activities less investment in property, plant and equipment plus proceeds from asset sales. Net Debt is defined as total debt plus unamortized discounts, premiums, and issuance costs, less cash and cash equivalents. The company states that these measures are used by management, investors, commercial banks, and research analysts to evaluate financial performance, liquidity, and leverage, while noting the limitations of non-GAAP metrics and providing reconciliations to GAAP measures.

Stock listing and corporate status

According to its SEC filings, ProFrac Holding Corp.’s Class A common stock is listed on The Nasdaq Global Select Market under the trading symbol ACDC. The filings also indicate that warrants to purchase Class A common stock trade under the symbol ACDCW on the same market. The company is incorporated in Delaware and provides its corporate contact information in its Form 8-K filings. There is no indication in the provided materials of a name change, merger completion, delisting, or bankruptcy event.

Key points for investors and observers

For users researching ACDC stock, the available public information highlights several structural features of ProFrac’s business:

• It is an energy services holding company focused on hydraulic fracturing, completion services, and related products for North American unconventional oil and natural gas E&P operators.
• It operates through Stimulation Services, Proppant Production, Manufacturing, and Other Business Activities, with a notable degree of vertical integration and intercompany activity among segments.
• It emphasizes technology and automation in its operations, including the use of ProPilot and a partnership with Seismos for closed-loop fracturing.
• It actively manages its capital structure through debt arrangements, note issuances, and equity offerings, and provides detailed non-GAAP metrics to describe its financial performance and liquidity.

All of the information summarized here is drawn from ProFrac’s press releases and SEC filings included in the input data. Users seeking more detailed or updated information should review the company’s most recent public filings and disclosures.