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ProFrac Holding Corp. (NASDAQ: ACDC) announced on May 16, 2024, that CFO Lance Turner will resign, effective June 17, 2024. Turner will remain as a consultant to ensure a smooth transition to the new CFO, Austin Harbour. Turner has been with ProFrac for two years and significantly contributed to the company's financial management and strategic direction. Austin Harbour, who brings extensive industry experience, including roles at Piper Sandler and Superior Energy Services, will succeed Turner. Harbour holds an MBA from Texas A&M University and a bachelor's degree from Texas Christian University.
ProFrac Holding Corp. reported strong first-quarter 2024 financial and operational results, with total revenue growing 19% to $581.5 million. Net income improved from a loss of $96.5 million to $3.0 million. Adjusted EBITDA increased by 46% to $159.7 million. Free cash flow grew 102% to $25.8 million. The company's outlook is positive, with steady pricing in the Stimulation Services segment and expected growth in Proppant Production volumes and profitability.